Texas Lease Options CD PDF Print E-mail

Texas Lease Options: CD With Contracts and Detailed Discussion About Texas Code
Click here for a FREE SAMPLE of the Reference Manual for Texas Lease Options!

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Texas Lease Options CDYES!  Lease Options ARE legal in Texas!  You just need to understand the law and have the contracts that address the requirements as set forth in Texas Property Code.  Having started my lease option company in 2003 and then developing it into the largest company of it’s type in Texas that offered a complete lease option system, we were fully aware of the original draft of the bill versus what the final bill required.  When the dust finally settled, the new requirements were very workable in our opinion, and we made the appropriate changes to our contracts. 

HOWEVER, by the time the final bill was drafted and signed into law, the rumor machine was already in full speed and still is today. Even more than 5 YEARS since the bill went into effect, the rumors are still out there and still growing! 

Remember the game in elementary school where the teacher had the kids sit in a circle, and then she’d whisper something in someone’s ear? They had to pass the secret around the circle, and by the time it got to the end it, had NOTHING at all to do with what the teacher had originally said! Well, that is EXACTLY what has happened to the rumors about lease options in Texas!

Here are some of the crazy rumors that I’ve heard:

The lender has to approve the application from the Optionee.  FALSE!

You can only do a lease option if you have at least 75% equity in the house.  FALSE!

You can only do a lease option on a house if you own it free and clear.  FALSE!

You have to foreclose if the Optionee defaults.  FALSE!

If your lease option is over 6 months you are breaking the law.  FALSE!!!!!

UUUHHGG!!!! Some of the rumors I’ve heard are just CRAZY!! Some of the rumors were either based on the original bill or were just simply made up by the rumor circle like the one in elementary school.

So, if you want to do lease options in Texas, you need the contracts, right? Well, in years past I’ve had a NUMBER of people ask if I would sell our contracts to them.  I always turned them down because of 2 reasons:

  1. The contracts, by themselves, don’t do much good if you don’t understand why the law came to be, and what the law states.
    Imagine if a seller asks you "Now, why is this clause in here?""Hmm... good question... I don't know…" Not good.

  2. I have spent THOUSANDS of dollars over the years to draft our documents and make adjustments over the years to continually tweak them. THOUSANDS!! Well over $12,000 actually! How can I charge someone $12,000 to recoup some of my costs?! 

Therefore, the ONLY way previously to get the contracts was to come to me for either one on one training or for one of the 4 day Lease Option Classes that I offer, and I would spend part of the time discussing Texas Property Code. After years of turning people down, I’ve had enough people contact me that really didn’t need the 4 day intense training (as the training is focused on building a lease option business, not on Texas lease options specifically) and really just needed the contracts with some good understanding of the law

So after YEARS of turning people down, I am NOW making the contracts available on a CD that includes:

  • Reference Booklet for Texas Lease Options
  • Texas Property Code Title 2 Chapter 5 Conveyances
  • Original Draft of HB 1823
  • Original Draft of SB 629
  • Amendments Introduced for HB 1823 and SB 629
  • Final Version of HB 1823
  • Contracts for Lease Option Assignments
  • Contracts for Straight Lease Options
  • Sample Notice of Default as required by Sec 5.063

Click here for a free preview to the Lease Option Reference Manual included on the CD! (PDF)

Even though I’ve spent in EXCESS of $12,000 for our documents, you can purchase the CD with EVERYTHING I’ve noted above for only $895!!!

Is $895 worth it?!  I don’t know, you tell me.  Here, let me give you a challenge.

First, find a GOOD real estate attorney.  (Sometimes that can be a challenge in itself!) Then see if he or she will draft contracts specific to lease options. 

Let’s assume they agree to do it.  What do they charge per hour?  $400?  Fine.  Now, multiply $400 times 25.  Since it will likely take a minimum of 25 hours to draft the contracts, then of course the revisions etc. 

So now tell me, is $895 worth it?

Bottom line, if you are SERIOUS about doing lease options in Texas, you’ll need good contracts and a good understanding of the law.  Period. 

$895 includes shipping/handling

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