How do you say, lease option in simple terms? - Posted by Robjan (ILL)


#1

Posted by Brad Crouch on March 02, 1999 at 10:46:28:

Robjan,

For tenant buyers:
Rent to own. Make your down payment in installments (separate check)

For property owners (master lease):
I’ll guarantee your payments and the maintenance, commencing as soon as I get a qualified tenant in there. Even if the place becomes vacant, your payments will be made . . . as long as you agree to let me put a tenant in your house. Without that agreement, I cannot make your payments.

Brad


#2

How do you say, lease option in simple terms? - Posted by Robjan (ILL)

Posted by Robjan (ILL) on March 02, 1999 at 10:30:04:

My husband and I just finished Ron LeGrand’s Fast Cash course and feel were ready to go out and start making money! Re: lease options, I know we probably know more about it than the people we will be talking to but with anything new, you feel a little intimidated that you won’t know how to answer their questions properly without sounding like you don’t know what your talking about and doing the stammering dah dah dah thing. We have been role playing and the thing we get stuck on is when you tell them you may qualify for our lease option program and the ask," what is a lease option?" Does anyone have a simple way to answer that without saying too much and putting your foot in your mouth? We know what it is, but putting it in simple to understand terms gets us stumped. Any suggestions would be appreciated. Thanks


#3

Re: How do you say, lease option in simple terms? - Posted by Frank [Pgh PA]

Posted by Frank [Pgh PA] on March 02, 1999 at 20:11:21:

Suggestion: Stop using “Lease Option” and start using “Rent To Own.”


#4

Re: How do you say, lease option in simple terms? - Posted by Jay

Posted by Jay on March 02, 1999 at 12:15:44:

Can you say “Rent To Own” When you mention those
3 little words a light comes on and them you can
further educate them on what it is that you are
trying to accomplish.


#5

Re: How do you say, lease option in simple terms? - Posted by Bo (GA)

Posted by Bo (GA) on March 02, 1999 at 11:58:54:

I usually say: A lease option gives you the exclusive right to buy the house, i.e. I can not sell it to anybody else. But it is your choice; you do not have to buy it.

I sometimes also say: An option is something you buy and all options have the following in common: A duration and a strike price; so for as long as you are within the duration period, you can buy the house at the pre-determined price (strike price). This gives you the benefit of living in a house, building equity (rent credit) and buy at a later time when your financial situation is such that you can qualify for conventional financing.

Hope this helps.

Bo (GA)