[Sholom Patterson]

Sholom Patterson

Hi Everyone,

I just went through Jack Miller’s 2 Seminars on options and boy were they chock full!

One thing I want to is create a lease and option for a Master Leasing opportunity with a local burnt out landlord, however the forms and format of the courses were confusing to me actually utilize these 2 instruments.

Can anyone walk me through how to create a proper Lease + Option arrangement, so that the lease and option are separate?

Would love to close this deal.

Thanks for all your help,
Shalom

[DON WEDE]

DON WEDE

Shalom,
Most master leases have wording that if the occupant tenant does not pay then the master tenant (you) do not have to pay the landlord (owner). Of course these are totally negotiable. Use two separate agreements. A Lease and an Option. David Tilney has a great master lease course if you have the time until his next class.

If you need some help let me know

Don Wede

[DON WEDE]

DON WEDE

Shalom,
I am not a very good teacher I take to much for granted. All a master lease is your right to lease with the right to sub lease. You can guarantee payments or make it a performance lease as stated above. You work out your payment to the owner (landlord) as you two agree.

[Bill Cook]

Bill Cook

Shalom,

With Jack’s courses, there’s a ton of info that can help you. That said, you will need to work hard to gather the info and material you need to build a performance lease. Then you must take it to a competent person (real estate attorney or a been-there-and-done-that investor) to have them review what you’ve built.

Remember: each state’s landlording laws are different. What works in one state may not work in another.

Bill Cook