Lease options

[Malcolm Brown]

I am so happy that I didn't go through with that deal I had couple of weeks ago. I had a deal where I was going to be purchasing a property keeping the sellers existing mortgage in place, and calling it "Seller's financing " Smh, after further reading and training myself I found out a great deal of information. Lease options is the term that I should be using whenever I'm doing these types of deals. After further education, I've for out that lease options are part of the Dood Frank act but there are ways of doing so without breaking any laws. From what I understand, there are certain exceptions that doesn't go against the act. If an investor purchase the property from a seller, and does not  live in the property is excluded, and if the investor sell to another investor. Monthly rent paid can not go towards the purchase price, unless it could be considered an installment payment.  We, as investors, can not do more then 5 of types of deals a year. There is a great video on Bigger Pockets that covers a lot about doing lease options with dood frank.