Summary: In this episode, we’re once again continuing our awesome series that’s all about keeping things simple and focusing on the fundamentals of REI. Peter Vekselman, who co-authored a book with me and averages one deal a day(!), is back again, too. Today, we’re talking about Lease Options and why we think they make for a smart business model. We’ll cover exactly what they are and their benefits. And we’ll explain what ‘staying in the middle means’ and why Lease Options can help you build a solid portfolio. Let’s jump in, folks… Watch and Enjoy: What’s inside: 3:57 – What Lease Options are 9:00 – Joe goes over an example Lease Option deal 13:30 – The benefits of Lease Options 16:38 – Peter goes over two decisions you need to make regarding REI Mentioned in this episode: Joe and Peter’s <a href="http://www.freebasicbook.com" target="_blank">Brilliant at the Basics</a> free book Peter and Joe’s <a href="http://www.peterandjoe.com" target="_blank">Apprenticing and Partnership Program</a> Tweetables: [Tweet "Look into Lease Options, which allow you to control property without owning it plus other benefits"] [Tweet "With lease options, you can get cash now & cash flow over 2-5 years & cash later when you sell the prop"] [Tweet "There's plenty of opportunities to make money, but you must understand the basics of REI to succeed"] Transcription: <a href="http://www.realestateinvestingmastery.com/wp-content/uploads/2015/02/Brilliant-at-the-Basics-Part-6-What-are-Lease-Options.pdf" target="_blank">Download episode transcript in PDF format here...</a> Joe: Hey, everybody. Welcome! This is the Real Estate Investing Mastery Podcast. And, we are back again for another Brilliant at the Basics episode series with Peter. Peter, how are you? Peter: I'm great. How are you, Joe? Joe: Awesome. Doing really well. I'm excited about this new year. You know, 2015 is upon us now. And, I've already seen the market start and kind of cool down a little bit in November and December. But, we didn't slow down our marketing at all. It seems like now, coming in the January and February, a lot of the excitement is coming back. I mean, a lot of sellers actually are getting better responses now with our marketing. We're getting more buyers contacting us, saying, "Hey, do you have any deals? You got anything?" And, even on our lease option deals that we're doing, we're seeing a lot more interest. We're putting up bandit signs, getting flooded with calls for buyers. But, the purpose of this podcast series that Peter and I are doing... Listen back a few episodes ago, we talked about why we're doing this, who we are. Peter introduced himself. A lot of you guys already know who I am. If you haven't listened to that one about two or three series, episodes ago, where Peter kind of introduced himself... I think that was Brilliant at the Basics Episode 4 from Peter. Then, you should go check it out, because Peter's doing some awesome things. And last week, we talked about, "What is wholesaling?" On this episode, we're going to talk about, "What are wholesaling lease options?" which is some of more what I do. And, with traditional wholesaling, you flip a lot of properties that have equity. I flip a lot of properties that don't have any equity. And, there's even another strategy that we can maybe talk again later, about how to make money outsourcing these leads that don't have any equity to maybe realtors, and making income from that. But, I got to tell you about our book, "Brilliant at the Basics." There is this book that Peter and I wrote, called "Brilliant at the Basics." And, you can get this for free at freebasicbook.com. You just have to pay shipping and handling. It's about four or five bucks. If you don't like the book, keep it. Let us know. I'll give you your money back. But, it's about how to get more leads, more time, more money, by being brilliant at the basics. And, it's called at the bottom.
