Can you believe this? After all the time I have been on here and all the times I have gabbed, this is the first time besides my journal (be sure to visit it and say "Hello") that I have actually STARTED a new thread.
Lease Options are getting to be a very popular subject so since that is what I am also specializing in, I have bookmarked many of them on here and compiled a number of sources that I thought I would share. It will just make it a little more simple. I am sure that there are some that I have missed, so be sure to add anything you would like. It will be appreciated by many.
OK, you asked for it! LOL!
Now the best contracts I have found are on this site: www.ilrg.com They are state specific and really not very expensive. I am going to try to attach the ones I got (save you some money). Mine are for CA. But the main reason is I have added some good clauses that you may want to add even if you are in a different state.
Be sure to use the lead disclosure form and get it signed. Federal law.
And the Owner's Disclosure Form- owner is legally obligated to tell you about any problems with the house.
Besides your Lease With Option to Purchase form you want to have a separate Residential Rental form that does not mention L/O. This is in case you ever have to evict your T/B (tenant/buyer)--much easier and cheaper than a foreclosure.
I have also put some ads that I have run on CL for buyers in my journal.
http://www.deangraziosi.com/real-estate-forums/investing-journals/59128/... Please do not use them in Los Angeles. I am more than happy to help you but please don't use "my" ads on my home turf.
A very good book to get more in depth info is Wendy Patton's "Investing in Real Estate With Lease Options and Subject To Deals". I got mine on Amazon used. Also if you go to wendypatton.com she has a lot of free articles that give you lots of great info.
That's all I can think of right now. This should keep you busy for awhile.
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"Shoot for the moon! Even if you fall short, you'll still land among the stars!"