Question on Option/Lease - Posted by Samw
Posted by Samw on June 29, 2003 at 13:31:38:
I recently bought the How to get rich by helping others book by Ernest Tew, and I have a question on the Net lease option.The question is more geared towards how the Net lease option is able to bypass the Florida licence requirement?
For example if I enter into a Net lease option with say 2 buyers over the year and both are net lease agreements where the tenant/lessee has the option to exercise their right in 5 years.And assuming they did execise thier option they will be basically take over the title of the mobile home at the agreed option price.When they do that,will I still be treated as a dealer as I am transferring the title to two mobile homes in that given year?
I do understand the benefits of selling on option/lease as it will go around the 6% sales tax and all the benefits but Iam not sure about what I meantioned above
Would appreciate all responses…