What Is An Option Agreement On A Property?: In a recent interview, I dove into the innovative world of purchase lease option agreements.
Lease option agreements are a strategy that allows you to buy houses with little money down, and in the video, I explain how they work and how to get them. If you want to start investing in real estate without a massive pot of capital, this video is for you!
You can find the video at the top of this page, or on my YouTube channel. If you watch the video on YouTube, drop me a comment letting me know what you plan to do to secure a lease option agreement!
What is an option agreement on a property? An option agreement, or in this case a purchase lease option agreement, is an option, but not the obligation, to buy a property within a set time period for a specified price. In the interim, you lease the property from its owner.
This allows you to secure a price, and benefit from a property, without needing a lot of money to get started. But how do you find these types of deals, and why would any property owner agree to these terms?
In this article, I show you a simple 3-step process for securing a lease option agreement! By the end of this blog post, you will understand why option agreements are powerful real estate investment tools for growing a portfolio from nothing!
Most people think it takes a lot of money to get into property. In reality, it just takes knowledge, and hard work. If you are an action taker, you can make it in the property world! The education system doesn’t teach people this, so it is up to us to get the message out!
If you find this article helpful, please would you share it on your social media pages? That way, we can help more people reach their financial freedom goals. Sharing our blog posts and videos really makes a big difference, so thank you so much to all who do.
1. What Is An Option Agreement On A Property?: Find Old Listings!
Go to a property search site like Rightmove. Pick an area, and sort by oldest listed. These are properties that have been on the site for a long time, but haven’t sold.
Often this is because the property is in negative equity, meaning the remaining mortgage is more than the market value of the home.
2. What Is An Option Agreement On A Property?: Make A Deal With The Owner!
Contact the owner, and offer to buy the property at the price they want, but in a period of years once the market has had time to rebound.
In the meantime, you will lease the property from them, so they can walk away from it.
3. What Is An Option Agreement On A Property?: Save Your Profits, And Buy The Property!
You then take on the property, and rent it out at a profit. This could be by turning it into serviced accommodation or renting the property by the room as an HMO.
Save the money you make over this period so you can buy the property before the option expires!
What Is An Option Agreement On A Property?: Get Trained!
What is an option agreement on a property? Now you know! However, if you want to do this yourself, it helps to have some property training! Fortunately, I can help with that too. Join me at my next introductory online training event!
We have different online trainings throughout the year, each teaching different things. Here is a sample of what you could learn on one of our online introductory webinars:
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The SECRETS to becoming a successful property investor
Get immediate and actionable insights to accelerate your property investment journey.
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How to LEVERAGE other people's money to get started
Begin to understand the strategies to use to reduce the barriers to getting started.
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How to FIND fantastic property opportunities
Understand where property professionals source the best deals.
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How to RECYCLE your money again and again
Don't just do it once, repeat the process to build your property portfolio.
Property investing is not just for the rich! Learn the strategies that thousands of people have used to not only start investing, but become financially free! Tickets are free, so book your property training webinar now. If you are ready to take action, I hope to see you very soon!
