Tuesday, June 19, 2007

Lease Options: Are Lease Options Illegal?

Hello All:

I received a very interesting phone call today from a real estate investor who was exploring lease option investing. He had talked to a few local investors who told him that lease options are illegal and risky! He called me because he found me on the net ( www.jgage.com) and wanted to find out the straight scoop.

I began to explain that lease options are illegal if they are done wrong, which by the way 95% are implemented wrong. You see I continued, most people believe they can read a book or listen to a tape and then it's off to the races. Truth be told, very few people in our society (me included) can take a book and implemented without any help or direction. - that's why I developed my One-on-One Mentoring Program.

As our conversation concluded he asked me what the first thing he should due before getting involved in any real estate strategy? I told him to check with his states guidelines for investors, the Dos and Don'ts can be obtained at that states Attorney Generals Office (which can be fund online). The second part of the answer I don't think he was ready for! You need to get a mentor, whether it's me or someone else - don't go it alone!

Hopefully, this brief post will guide those of you who are trying to go it alone to re-examine your game plan/business model.

To your success,
James Gage

Mark Twain said: "Keep away from people who try to belittle your ambitions.
Small people always do that, but the really great make you feel that you too can become great."