How Do Lease Options Work And How To Get Rich Doing Them
Another very popular real estate investing technique used by savvy investors is Lease Options or Rent to Own as it is sometimes known by. A lease option has been very valuable in my real estate investment toolbox. I use this technique to purchase real estate, and also in a slow real estate market to sell property, while still getting the full asking price. WHAT IS A LEASE OPTION? There’s no mystery here. It is what it sounds like, two separate methods combined into one. You have the lease, which is a bilateral agreement binding two parties contractually to perform specific actions. One party agrees to pay money in exchange for access to a property. The other part agrees to let or lease the property to the first party in exchange for a certain amount of money in set periods. The option is a unilateral agreement binding the seller to selling a property to you exclusively, for a predetermined price, but at a later date sometime in the future. HOW DO WE USE THIS TECHNIQUE?
