Question from Lynn:
Mr. Butler: This is Gary J. and we are Gold Member clients of yours and I have an two quick questions.
Q1: First did I understand correctly that a non refundable lease option fee is not counted as income until consummation of the purchase????
A1: great question, but first, you have fallen victim to improper investor slang.
for starters, in my business there is no such thing as a “Lease Option Fee.”
This is actually TWO separate transactions involving what you are describing.
1 – anyone may purchase an “Option to Buy” on any property I own. This has absolutely nothing to do with rent or a lease. In fact, you could have a tenant occupied rental and you could allow an investor to purchase an “Option To Buy.”
This article or video is for members only!