Lease Option
Categories: Real Estate
See: Lease.
Think: rent-to-own, only instead of furniture, we have an office building.
You loved leasing the place for $5k a month these last 3 years. But now you want to own it. Business has been good and you have the cash. Luckily, your crackerjack lawyer inserted a clause before you signed the original lease that you'd be able to buy the office building at a cap rate of 10-ish...and you preset the purchase price at $400,000. You were leasing with an option to buy. And now you'll execute that option, write a check to the owner for 400 large, and become the proud new owner...of a lot of management headache you didn't realize the landlord used to handle for you.