Seeking advice on lease options (legal considerations)

[Josh Curtis]

Hi, let me start by mentioning that I'm very new to real estate investing, and have yet to purchase a property. As a veteran, I had planned on using the VA home loan guarantee to enter the world of real estate one property at a time, with a new purchase every 6 months or so. However, with the very real possibility of a real estate market crash in the wake of COVID-19, I have had another idea that would be much more quickly scalable, only limited by my ability to secure financing. My deal strategy mostly revolves around a lease option. While I understand the basics of a lease option, I was hoping to get suggestions and advice regarding legal considerations of this type of deal, so that I can look into those topics while I continue learning more about the deal structure itself.

In each of the potential deals, I would be purchasing properties that I would then be offering lease options on. These properties not be in a position to be acquired through a lease option. Just thought I would mention that, so you know what approach I'm utilizing the lease option in, in case that makes a difference for legal considerations.

Thanks!