Need Some Real Estate Help? Try a Lease Option Course!
Need Some Real Estate Help? Try a Lease Option Course!
The world of commercial real estate can be tough waters to navigate, when in doubt get some advice from the experts and check out a lease option course. Most people are only exposed to the real estate dealing through relatively simple residential purchases or the reality TV world of flipping. If you're serious about making steady and serious money in real estate though you will need to learn about all of the creative avenues through which you can make deals happen. You can spend a fortune and endless hours in frustration trying to figure it out yourself or you can get some tips from the experts.
A short lease option course will give you a handle on how to make a non-traditional real estate deal work even in rough markets. In a lease option deal the buyer pays for the option to buy the property they will lease after a set period of time. Let's take a look at a quick example. A buyer does not have the money up front to buy a property but expects that they will in three years. They negotiate a lease option deal with the seller. Basically, they agree to lease the property for three years and also pay an extra amount for the right to buy the property in three years. The owner can't sell to anyone else until that time period is up. The buyer purchases only the right, not the obligation, to buy the property. They can opt not to purchase the property at the end of the lease if they do not have the means or desire to buy the property.
So why would a seller agree to this over a standard deal? Well, in challenging real estate markets like the one we are facing now maybe they can't find a traditional buyer. Typically, they are compensated for not selling to anyone else by negotiating a higher than current market sales price. They also collect money every month in addition to the rent and other fees that goes towards the property's purchase. If the buyer decides to not exercise the option all of that money goes to the seller.
While deals like this are not uncommon, they are fraught with pitfalls that you can learn to avoid simply taking the time to check out a quick lease option course. Course likes this are great because you get to learn the ins and outs of professional level deals without the fun attorney and broker fees. If you're serious about learning the ins and outs of the real estate business and making some real money a lease option course is for you.