All Forum Posts by: John Jackson

 That site, after taking a look, has items required for a C4D that are not actually required for a LO. 

Quote from @Luke H.:

Quote from @Michael Carbonare:

Quote from @Luke H.:

Quote from @Michael Carbonare:

That old wive's tale of lease options being illegal in Texas still persists, I see.
Fact check:  lease options are, in fact, legal in the great state of Texas,

 Says the Pizza man from Florida! Lol, thanks for the reply.

thanks for the invite, I'm planning a trip to Flordia soon!

Michael....didn't know you were still alive.  Disregard the flowers I sent.  

 LO's are legal in TX but over 6 months you have to disclose mortgage information and the buyer has to be able to know when the payments are being made. In your case, this isn't a good LO anyway as the price is too low for an effective LO if you're looking for a buyer to get financed TBH. Good job on the seller finance! If you own this house and are doing more than 3 in a year get an RMLO. 

 Hey there Roy! Roy, not only did we give you our ALL to get you across the finish line....most of the time we couldn't even get you to the starting gate! Nothing bad or personal, but my lord my friend...even my sister spent countless WEEKS for FREE trying and trying to prod you forward.  Business is not for everyone that is for sure. 

 I don't know you Dave but I take it you haven't read my material, or...you've bought several courses and are mad at the creators of the course because you haven't been able to implement them. My little Leasing To Buy business is humming along just fine here in Texas. Wish you the best. 

 Because I was there!! But....alas...I don't do 3 day events any longer. :(

Hi @Alysia Korelc I'm the TX lease option guy if you have specific questions.  I have a broker down in Travis county that is just getting started with LO's down there and he's going to do great!  As far as a CRM, if you are just restarting, in my opinion a CRM is not the thing to focus on, as it can be a distraction more than anything else until you have enough leads actually coming in, in my opinion. 

@Pawan Pandey If I understand this correctly, you are living in a house that you have a lease option on, with an option price of $120k and 2 years left, but can't qualify for a mtg.  Another person has approached you about buying it from you for $170k.  Is this correct?  Well there are a couple of ways to go on this.  @Brian Gibbons is correct on TX, and the owner doesn't even know this I'm sure, but what you have is actually considered a land contract or a contract for deed in TX because it's over 36 months, and I would have to assume he is in violation of DTPA....but...let's focus on getting you $50k!! You can actually do a simultaneous close and use transactional funding for this, just as a wholesaler might do in some cases.  If you want to message me I can look at the contract you have in place, then be better able to direct you to who you need to close this sucker!  BTW- I'm 30 minutes from Denton. 

HOLA!!! @Roger DeReu. @Jerel Ehlert, @Andrew Taylor and everyone else!! If you all have a specific question then fire away!  Jerel, you are incorrect about a sandwich lease option in Texas. The reason you can not do a SLO in TX is the SELLER must have fee simple title.  Has nothing to do with the mortgage or being free and clear.  David Willis with LoneStarLandLaw is an attorney and he is unfortunately wrong on his lengthy write up on his site about lease options.  He is confusing the statutes regarding contract for deed with those for a lease option.  HUGE difference.  I do 1 year lease options and my documents cost about $30k with different attorneys and firms.  The best attorney I've ever used helped draft my documents, and even created much of Title 2 Ch 5 TPC, so he knows his stuff. He's retired now unfortunately.  Fire away if there are specific questions.  Shoutout to @Brian Gibbons !!