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How to Use Real Estate Options for Maximum Gains Using options is undoubtedly one of the most powerful ways available to investors today to gain control of real estate. Options give investors the legal right to purchase an asset at a predetermined price within a specified period of time. One of the primary reasons for using options stems from the high degree of leverage that can be obtained when purchasing stocks. Understanding Real Estate Lease Option A lease option is similar to a purchase option in that it grants investors the right to purchase property at a predetermined price within a stipulated period of time. Lease options combine the basic lease or rental agreement with an option to purchase contract.