Help me on Greg Murphy's Method

I found this on thru Bing.com
Check out this site,must not be illegal in Texas.

http://www.finehomeshouston.com/rent-true-lease.php

I just spoke to TX Board Certified RE Attny yesterday (not investor friendly) and he said that there is a FEDERAL law they are trying pass to prohibit owner financing unless you OWN the property and are selling it to a relative. It was supposed to go into effect June 30th, but put a moritorium on it until August.
Also they are trying to restrict FSBOs as well stating that all official transactions will have to go through a mortgage broker to be legal.
This is as of 8/10/10, but he said at the end of August we will know more solid info. So, if you want to do it, do it FAST!

Again, this guy was not investor friendly and just like EVERYTHING else, there are ways to get around every law, you just need a BETTER lawyer. (Thank you OJ Simpson!)

KHennessey
"Giving You Freedom"

Instead of using the term Lease Option, consider Rent to Own. For whatever reason, Texans like this better. I hear quite often that this or that real estate investing technique is illegal. This most often it comes from a Realtor that may know a lot about real estate property but less about their state law. A savvy real estate attorney can lead you in the right direction. If one technique doesn't work well from a legal stand point, there are plenty to choose from. If you are ever in doubt, you can always call the Real Estate Dept in the Attorney General's Office.

Good Luck!