how to make money with real estate options_25

In addition to following the negotiating advice that I outline in Chapter 13, you

must obtain the following six key terms when negotiating lease and option

agreements:

recording and giving notice of a lease agreement made between David D. Jones, known

hereinafter as the Lessor, and Donald S. Reed, known hereinafter as the Lessee, in which

Lessor agrees to lease to Lessee that certain real property known as 45735 Hillsborough

Avenue, Tampa, Florida 33603, and legally described as: Lots 47, 48 and 49 of Carter's

subdivision according to map or plat thereof as recorded in plat book 69, page 89, of the public

records of Hillsborough County, Florida, which was executed between the Lessor and Lessee

on the ninth day of July 2005 and which will expire at twelve o'clock midnight on the eighth

day of July 2006.

IN WITNESS WHEREOF, Lessor and Lessee have set their hands the date aforesaid

David D. Jones Donald S. Reed

Lessor Lessee

1. Two-year lease agreement.

2. Two-year real estate option agreement.

3. Fixed purchase price that is at least 20 percent below the property's current

market value.

4. Rental rate that is at least 10 percent below the property's fair market

rental rate.

5. One-year extension clause in the lease agreement.

6. One-year extension clause in the real estate option agreement.

When you are a tenant leasing property, I highly recommend that you insure

your personal property with a renters' insurance policy. Most renter 's insurance

policies provide coverage against fire and theft to personal property and personal

liability coverage for injuries and damages caused by tenant neglect. Log

on to the following web sites to find adequate renters' insurance coverage:

Geico Renters' Insurance: www.homeowners.geico.com/renters.html

InsWeb: www.insweb.com

Quote Fetcher: www.quotefetcher.com/renters-insurance.htm

NETQUOTE: www.netquote.com