Item 8.01 Other Events
On September 4, 2009, but effective as of July 1, 2009, Income Opportunity Realty Investors, Inc. ("IOT" or the "Issuer") executed a Reinstatement Instrument among IOT, Syntek West, Inc. ("SWI") and Prime Income Asset Management, LLC ("Prime") pursuant to which an Advisory Agreement dated July 17, 2009 but effective July 1, 2009 between Prime and IOT was terminated ab initio and the Advisory Agreement dated July 1, 2003 between IOT and SWI was reinstated in full in the same manner as if same had never been terminated. It was previously reported on July 17, 2009 that the Advisory Agreement dated July 1, 2003 between IOT and SWI had been terminated by mutual agreement. SWI had served as IOT's advisory since July 1, 2003. Following that event, it was disclosed to IOT that the July 1, 2003 SWI Advisory Agreement had been pledged as collateral as an accommodation pledge for certain obligations of another entity and that such termination might cause damage to such other entity. Accordingly, pursuant to the Reinstatement Instrument, the parties thereto agree to terminate the Prime Advisory Agreement ab initio and to reinstate in full the SWI Advisory Agreement in the same manner as if there had been no attempted termination thereof. SWI continues as the contractual advisor to IOT under the Advisory Agreement dated as of July 1, 2003 until further action or agreement between IOT and SWI. A copy of the Reinstatement Instrument is attached as an exhibit to this report.
Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits
(d) Exhibits. The following documents are filed herewith as exhibits to this Report:

Exhibit Designation Description of Exhibit 10.1 Advisory Agreement dated as of July 1, 2003 between Income Opportunity Realty Investors, Inc. and Syntek West, Inc. (incorporated by reference to Exhibit 10.0 to the Registrants Current Report on Form 8-K for event occurring July 1, 2003). 10.3* Reinstatement Instrument dated September 4, 2009 but effective July 1, 2009 among Income Opportunity Realty Investors, Inc., Syntek West, Inc. and Prime Income Asset Management LLC.

* Filed herewith.

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