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We had another podcast recently with my guest, Peter Conti, the go-to guy for lease option info. Today we’re just changing the focus from residential to commercial properties.
Lease options are a great way to make money while minimizing risk. Master Lease is the industry name often associated with commercial lease options.
Peter recommends face-to-face meetings with property owners. Commercial brokers can be less than helpful on lease options.
Rent property from current owners and really ‘own’ it. You pay the taxes, handle maintenance, collect rents, etc. Lease for long-term and establish price for buying property at the end of the set term.
Get a good real estate attorney to create lease option agreements, whether you’re doing commercial or residential lease options. The agreement needs to hold up over time… sometimes as long as 10 years.
Listen and learn:
- Apartment complexes a good place to start
- Evaluating commercial property price
- Use an attorney to draw up contracts
- Apartment deal case study
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Podcast Hotline: 636.255.8815
- Joe’s free book: Wholesaling Lease Options
- Find commercial property owners:Reonomy
- Peter’s books: Commercial Real Estate Investing for Dummies
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