mweaver606

The point people are trying to make is that eviction is not always as easy at it sounds. They can drag it out for years. I know of someone on another site that had squatters and 3 years later has still been unable to evict them. Somehow people that don't pay rent always have the money to pay an attorney to make things worse for you. Walking away is great advice, take it from people that have been through this before. There are deals out there, don't try to make everything into a deal just to get one done.

Paperwork is all signed, now we wait and see if they make the 2 payments! I think they will. I did set their option to actually start on the day they make the last payment, and all paperwork sets out the option is not valid if payments are not made on time and no refund of course. These particular buyers are pretty serious, they drove by the house and sat in the neighborhood 5 times before even seeing the inside, and have been back several times since. The day of the viewing they were there an hour and a half early to sit and watch. Half of the time people just don't show up, lol, these people call every day and visit like they already own the place. Wish everyone that called was like them!

Yea I know it's been a disaster for people so I've never done it. This would only be $1000 of it financed, so I'm not too worried. Thank you, doing it that way makes sense!

Cooperative assignment.

I hate this idea, but it might be needed for a certain property I have, lol. So how exactly do you write this up? I understand doing a separate note for the financed amount, but what total do you put in the option agreement? The amount they paid up front and then you do an addendum for the final amount? I can't see putting in an amount that they haven't actually paid yet. Do you make the total option dependent on getting all payments, and on time?

Blind ads like that have never worked for me, and I see lots of people doing it now and they get flagged very quickly. I doubt they are getting many leads. When marketing for sellers I prefer to email the listings that are already there - if someone is posting on CL for a house to sell it's unlikely they are reading many of the other ads since they aren't there to buy. They might once in a while to see what's on the market, but I'd rather contact them directly than hope and pray they see my ad. I use Classified Searcher Pro to respond to everything. It's the greatest tool out there, there is a thread on this board about it. I set it up to search, when I get up in the morning I check off the listings I want to respond to, click a button and it's done for me. Templates are saved, I have ones geared toward fsbo's and frbo's. I've got 2 houses under contract this month from it. It's also great because it saves the emails and won't let you respond to the same ad twice - I would never be able to keep track of that doing it manually. Best $30 I ever spent.

Part of our selling point is that they don't pay Realtors fees, so a selling commission should not come into play. I would do it as a rental commission, since that is what they are doing, finding you a renter that MAY buy the property. They have the option, not the obligation to buy, so there could very well be no sale anyway. I'm finding that most Realtors do it as a rent listing, although I'm trying to get them to do it as a sale listing with terms, just like a land contract would be. It doesn't change their commission, but opens up the property to be seen by more buyers I think. (In my contracts I point out that if I list it with a Realtor, I pay their fee, so that comes into account when I'm negotiating the deal.)

Yea, I just hate the "cancel" concept, but I think I found something in one form I have, and also this thread: Guess I just needed something worded more sweetly, lol, I don't like calling someone and saying I'm going to cancel the contract, I'd rather push it up front that we will only give them 30-60, or whatever, days and if it's not going, well, something is wrong, but we tried. Gives me more room to renegotiate I think and doesn't so much make me the bad guy. Mostly I just need it when I have an expensive property kind of in the middle of nowhere.

Does anyone have an example of what you add to a contract to make it non-exclusive? I haven't seen anything anywhere, and I have forms from pretty much everyone, lol. Have been wanting to add this, especially for properties that I might not be able to find a buyer, having something set where the owner and I know that we are taking a chance would be a great thing, with an exit clause, lol. I.E. I have 60 days to find a buyer until the contract goes into effect, at which time if a buyer has not been found the contract ends. (All while still being assignable. I can't think of a way to add it, it might be all this snow.)

I've searched the forums but found it hard to find threads on this specific topic other than a few. I just have a couple of quick questions: 1. How do you "inspect" the property to ratify the contract and move forward if you plan on using them to show the house and not a local realtor or someone you know? Have them send photos? Video? Just trust what you've seen online if anything? 2. How do you file the memorandum? 3. Do you offer to pay for the marketing signs? Send them to them, or pay someone else to put them in? Thanks!

After playing with this for a couple of days here are the negative keywords I've added that have really helped clear out the ads that are a waste for me. I just added the ones I thought of, saw the results and kept adding ones that I came across and ran it again (without setting up the reply email during my testing). It's not fullproof, you can do mispellings too, like some forgot the e at the end of mobile, so some slip through the cracks, but then I go through and hand delete those ones before having it send the emails. Some you may not want depending on who you are targeting. But it's a good start. This is a great software! -agent -realtor -apartment -investor -"rent to own" -rehabbers -investment -wholesale -"owner financing" -"lot for sale" -"land for sale" -"lease purchase" -"lease-purchase" -"cash flow" -cash -investors -apartments -"seller will finance" -"credit is approved" -"bad credit" -habitat -"owner finance" -vacation -"lease to own" -commercial -"home loan" -"seller financed" -"mobile home" -"private financing" -landlord -trailer -wholesaling

I'd love to be added to the group even though I'm just getting started!

You forgot dryer lint! We have several friends that are doing exactly that, lol.

#1 is an interesting question to me. I'm just getting started, will begin marketing next week actually as our new office in the woods will be done finally (working from home with 4 kids is brutal after 10 years!) Anyway, I don't think I will ever mention an SLO or a CA as an "option" to sellers. I plan on running the numbers and deciding which one works for ME as an investor. If the numbers are there for an SLO I can choose that option, if not, then I'll put a deal together as a CA, but giving the seller a choice is a recipe for a disaster to me. I can certainly see where I may change from an SLO to a CA to save a deal if I can't negotiate a price down, but again, my choice, not an option to the seller. (I reserve the right to change my mind as I begin doing deals, lol.)