He spent probably in excess of $25,000 in legal fees to perfect Texas lease options, especially since Austin changed the rules on lease options.You see, the crooks in REI in TX were bad guys, selling crap houses to Hispanics, selling on terms like rent to own and CFDs, the crooks not recording ANYTHING, foreclosing and evicting like the old West, and in 2005 Austin let loose on the public "executory contract" TX laws.Bottom line, "scare the heck out of REIs selling houses on terms.

Remember there is a thin line between a kitchen and a utility room.

I would say get a buyer lined up and then bring both contracts to them.

Please feel free to shoot me down or correct me anywhere that I may have been out of line.

Yet its something in my business plan down the line as in at least 3years.Kudos,Mary

Martha Chavarria There seems to be some meat on the bones of this, but you threw me off with the last line where you include max offer of 250k and 229k profit.

In addition, I tend to do things like install quarter-turn shutoffs on all the water lines, make sure smoke detectors are installed, all lights are working etc.

Bottom line: advertising is now OK for a Reg D rule 506 placement.

I was also thinking somewhere in the line of this, and please feel free to critique:From net profit:I get 20% from doing all workthen my partner and I split remaining 80% into 50/50 share.

Bottom line, you've got a good deal (on the surface), but need money to execute.