First Property and have a couple of question

[Hakim Mouslim]

Hello, 

I am a bisiness owner of a bar taht is coming to an end lease term. I have decided to purchase the property from the land lord and i would liek to know if the following asks are heard of or used:

1. The purchase of the property is $3,000,000.

2. can I ask my landlord to lease the property for a term 24months after which the property will be acquired if not before? Can I sign  lease term and a purchase contract at the same time ?

3. If i can, is it fesable to ask the landlord that lease payment will be paid monthly and the Property purchase amount will be paid within the 24month periode? ( time for me to get a bank loan?)

4. if all this is dandy how do I go about asking him? will this be a lease with purchase to buy or an acquisitions with an initial 2 year lease term.

thank you 

[Marc Winter]

Hakim, 

It reads like you want to do a lease with an option to purchase.  Yes, you can do both at the same time, ie 

1) contract to purchase in the form of an option to buy within 24 months, with a 1-year rollover clause, and 

2) lease for your preferred term, say 24 months.  Insert a rollover clause for an additional year in case you need a bit more time to get financing.

The lease should not mention the option, and the option should not mention the lease--if things go sideways, you'll be able to part ways with fewer complications.  

Simply tell the seller you want to purchase the property, and "Here's how I'd like to do it"...

Keep investing and moving forward!