Travis Hughes wrote: Can someone describe to me the process to execute a lease option in Texas? I've been poking around the net and haven't found any good advice just yet. I am looking to acquire a property subject to the existing loan, and then lease option it to a tenant-buyer so that I can take the small amount of cashflow between the lease and the PITI payments, as well as capture the equity when the tenant-buyer closes on the house. Also, I don't think this violates the SAFE act, but please let me know if there is something I need to be concerned about here.
Thanks!
Travis,
This is not a process I recommned for the uneducated and inexperienced investor. The strategy is great great however, due to new laws passed in Texas a few years ago this is "ALMOST" impossible to do "legally" and risky. Honestly you would be much better off to sell the house with a WRAP mortgage and comply with the SAFE rules. SAFE is not a show stopper you just need to use the correct RMLO certified folks and you'll be just fine.
I'd be happy to discuss if you want to call me.
Tim
817-599-8058
www.AllWholesaleProperties.com
www.WeBuyTarrantCountyHouses.com
www.SellYourDFWHouse.com
www.GetFreeElectriciyToday.com
