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The Naked Investor Forums

Steve Morton

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About Steve Morton

  • Rank
    Making Calls
  • Birthday 10/24/1980

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  • Gender
    Male
  • Location
    Ontario
  1. Sorry if this seems like a dumb question MC, but do you have the tenant/buyer make the check or money order out to you personally using this method? Or do you tell them to make it out to your company name? I'm curious because I would assume that it would be a real hassle trying to cash a money order sent in the name of your business instead of your own. Also, do you think the tenant/buyer would feel more comfortable sending a check made out to a business, instead of a person? Or does it not matter?
  2. Thanks MC. Does the tenant/buyer ever seem weary of bringing out a check made out to you, since they never met you in person, or any other similar reason like that ? And do you always offer to split the option consideration with the seller? (I'm not greedy, just curious)
  3. I Just want to be to be clear on your process MC... Step #1. Locate motivated seller, tell them about all the benefits they will receive with a lease purchase etc. Step #2. After the seller accepts your offer, fax over the CA residential lease agreement and the option to purchase agreement, already signed by you. Instruct the seller to sign it themselves? Step #3 Market for tenant/buyer (instruct seller to do the same). Once you find a suitable candidate, set up an appointment for them to view property. Step #4 When you have a tenant/buyer who wants it, you set up a meeting between the seller and the tenant/buyer. Step #5 You then fax over a signed, CA Assignment of Agreement with the amount of the option consideration of the tenant/buyer already filled in. You instruct the seller to present it to the tenant/buyer for their signature. Step #6 Once the seller and the tenant/buyer finalize the agreement and sign the paper work, you then instruct the tenant/buyer to make out two checks. One for half of the option consideration to you, and the other half for the homeowner. You then instruct either the seller or the tenant/buyer to mail it to you? Am I close MC? Also, Do you think it would be possible to just have the tenant/buyer mail you a check for the whole amount?
  4. Hey Doug, I wish I was Yoda so I could use my "force persuade" powers on them! That way they'd just hand over the keys you know? Hmmm... I wonder if that would move me closer to the "dark side"? Hey M.C., so am I able to assume that you instruct the sellers to market with your contact info for the tenant/buyer to contact you about the house, and not the owner at all?
  5. Hey naked investors. It's been a while since I've been here. Anyway, M.C. I'm intrigued by this "hybrid consultation" method you've described here. The biggest reason is because I think that I do very well with the seller on the phone, but I struggle when it comes time to meet in person to close the deal. Quite honestly, I believe sellers may be put off by my appearance when I arrive. So they reconsider. I look young, and I'm not exactly the most conservative looking guy either. Personally, I also find it to be uncomfortable no matter how many times I meet with people. It's kind of funny, I've recently been trying to devise a method such as what you've described in order to overcome these obstacles. I was even contemplating contacting you to see if you think it could be a viable business model to focus solely on the consulting side, mostly by way of the internet. What do think M.C.? After all, your not limited to your local area this way right? You can market to anyone in the civilized world couldn't you?
  6. I've seen it. This is definitely a controversial film. Personally, I don't know what to belive. Can't wait for the North American union though...lol
  7. I was curious because I've heard of this place and I was wondering if it was any good or not.
  8. Hey CREAM. Just out of curiosity, was this school you attended that Noveu REI in Arizona?
  9. It's funny how people in the media always have to put it like that.
  10. That's a good idea Raul. Shoot him an email and ask him if $5 would be enough, or if he may be willing to provide some sort of bulk discount for investors. Personally, I don't want to have to deal with any more Realtors if I don't have to.
  11. Thanks Raul. That site looks to be very thorough in their process of obtaining the homes value, so I would assume they're accurate. However, I do wonder if it's worth the $30 fee for running a report for every potential seller who shows some interest. I wonder if if there's a way to get them to pay for it...?
  12. Can anyone recommend a good comps site that covers Canada?
  13. Hey guys. Thanks for the response. With the last seller I met with, I was almost certain that we had an upfront agreement on the terms of the deal. We discussed the monthly payment, the length of the lease, as well as how much he could expect to receive when he sold it. I'd sent him the lease purchase advantage, as well as the frequently asked questions forms, so he would have all the answers he needed right in front of him to make his decision on whether or not he wanted to do a lease purchase deal. However, after I arrived at his house and took a quick look around, the guy wanted me to sit down and explain all of the details of the deal to him all over again, as if we hadn't already just discussed it before on the phone. After I took the time to do this, he gave me the old "I need to think about it " blow off. Then, to make it even worse, his Realtor came over as I was about to leave. I could be wrong, but I kind of got the impression that he only said he agreed to the terms of the deal on the phone because he wanted to come over and talk to him face to face before he actually made a decision. It's not just this guy though, it seems like everyone I talk to wants me to run over to their house first and make some kind of presentation to them before they're willing to make a decision. In the future, is there anything specific I can say to the homeowner to get a FIRM commitment from them before I waste any more time traveling out to their house. Should I insist on them signing the short offer form first even if it's for a C.A.? Thanks.
  14. Hey naked investors. I'm finding that I do just fine with seller's until it becomes time to go meet them at their house. I have to admit, the few times that I've gone out to meet people have felt really awkward. Is this just a newbie thing that will pass once I have a little more experience, or should I arrange for someone else to bring the paperwork out as well as inspect the property? Can anyone give me a specific process to use on how they get the deal signed once they're in the house, without coming off as a sleazy salesman type?
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