OfflineI have heard that it is illegal to do lease options and purchases in Texas. I don't mean in buying for myself, but what is described in the books and videos. Speaking in terms of preforeclosure purchase to lease to another individual. Does this make sense or am I just confusing myself....lol. Any help is appreciated.
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I was under the impression that these ads were placed by the current owners of the property.
L/Os are not illegal in TX but you have to be very careful there. TX and NC are the two states that it is more difficult to do them.
John Jackson in Ft Worth has a very successful L/O company and has been doing them for over eight years. He has spent over $10,000 dollars developing his contracts so that they are TOTALLY legal in TX. Check out his website.
http://leaseoptionclasses.com/
I took his four day class in April and it was AWESOME!!!
Karen
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The strategy I wanted to use in Texas was purchasing a 4-plex + via lease option, then having tenants live in the 4-plex for cash flow. I'm a buy & hold investor, so while my tenants provide cash flow I'd be working on acquiring the property. Is this strategy do-able in the state of texas?