JvM

??? Not sure what you mean (the purpose)? The purpose of the memo is to have the owner fill in his terms (sale price, monthly payment & length of term). But most importantly, to give us a principal interest in the transaction so we can legally find a tenant buyer to take over our principal position. I want to have the same thing with the verbiage so I can assign it back to the seller. JvM

Cool, glad I can help you. We do deals in N. FL,, I know S. FL has some really nice properties. Hit me up if I can help in the future. JvM

Cool, thanks. Yeah, I use Joe Crump's software (one of my partners is a Crump student). The software scrapes craigslist for all the fsbo & frbo contact info (emails & ph #s) & saves to an excel file. You can specify the number of bedrooms, baths, etc. It has a place for backpage, but I never use it (not sure if it even works that well). Anyway, I set up 5 gmail accounts for sending to the fsbo's & 5 for the frbo's. I load the excel file with around 85 emails to send at one time. It auto-rotates between the 5 gmail addys so craigslist won't "see" it as being spammed. It also pauses between each email sent. I do that for the frbo & the fsbos. Depending on the city/area you usually get at least a couple days of 85 email batches to send each. It also can strip out blacklist emails from people who say "quit emailing me". It's pretty cool. It's definitely more of a manual process, but it works. He is coming out with a newer, better version soon (he's beta testing now). Another software I know some people are using is totally automated. You set up a bunch of gmail addys (for the same no spamming reason). This one is called CL Auto Replier. There's a video overview here It's fairly pricey. It's around 250 upfront & 60 bucks a month. You sign into a site to use it (it's not software you run from your computer like Joe's). A lot of people have opted to hire a V.A. to email or call the fsbo & frbo's instead of shelling out that 60 per month. Joe McCall (who also teaches lease option assignments) now has his V.A.'s just call the CL frbo & fsbo ads directly & ask if they are open to a "rent-to-own" situation. McCall used to use email blasting software, text blasting & voice blasts. I think having a V.A. call & use Adam King's 5 questions will be a good setup. I have Adam's course & it's very good. Well, there you have it. That should be enough to get you started on the software thing. BTW, where are you located & doing deals? Thanks, JvM

Yeah, love me some Seinfeld. I know, I figured agents would be starving for work. Especially something so simple for them to do. I've targeted both newbie & experienced agents & also tried leasing agents (they are used to filling straight rentals, so I thought they'd be good at finding tenant buyers). As always, it's gotta be me or something I'm doing (with that many of the same result). I'll figure it out. Btw, I finally tevo'd that George Harrison 2 part movie on HBO you told me about. It was awesome, Loved it! Thanks, JvM

Cool, will do. Thanks Michael. JvM

Hi All, I do "virtual" lease option flips in a few different cities/states. The one big challenge has been finding local agents to market for tenant buyers & show the properties for me. I started out offering them the equivalent of 1 months rent per tenant buyer placed. I even increased that amount thinking they were lazy because the money amount wasn't motivating enough. In terms of "lazy", what I mean is, these agents would barely lift a finger to market the properties (online or to any buyers that were just turned down for a loan). All of which I told them how & where to market for tenant buyers. I even got to the point where I was doing the marketing so all they had to do was show up & show the property & collect the tenant apps. I kid you not, they wouldn't even do that! Mind you, this is after a SUPER explicit ad of their expected duties & going over all that with them in the first convo to set expectations. I would even tell them I had to fire my previous agents because they were lazy & just wouldn't do anything. They would assure me that would never be the case with them...lol. I've gone through this with about 20 agents now. The whole process of screening them, (grilling them on what's expected upfront, where & how to market, etc). This is the last snag preventing me from expanding to any remote markets I want. I'm just kinda dumbfounded by the pathetic laziness & the fact that they have to do almost nothing to get their paycheck & that's still too much! Right now, I'm just partnering up with newbie investors in those cities & having them do that stuff. I train them & do the marketing & we split the profits 50/50. I just want to get a local agent to do the buyer side stuff so we can focus on closing sellers. I mean, if it were 1 or 2 agents, no biggie. But that many in a bunch of different areas is really odd. Especially because it's not as if I'm "mousey" with them in the beginning. If anything, I'm more like Kramer in Seinfeld (where he tells the girl "she looks fine, she just needs a nose job")...lol. I tell them upfront to not waste my time or theirs & I can't stand lazy agents. Anyway, has anyone had this experience & have any solution ideas? Thanks, Jay von Mohr 657-777-3540

Anyway, what I do want to say is that I've just had a PROFOUND life-changing event that happened to me. NO! It hasn't been good. It's been devastating! It was a wake-up call. Yah, eventhough many people here have spent a lot of time and money studying and making money in Real Estate, there are still lots of people that need help. However, some of us can afford it more than others. That's why I feel it imperative to give back what I have received from so many giving and gracious people, especially one person in particular, my dearly departed Friend and Mentor Paul Frkovich! He had a heart of gold and was a fountain of wisdom that he shared with me freely any time of day or evening! He was NEVER too busy to listen to me, give me advice or help me! He was the most incredible and giving person that I have met in this cruel and unforgiving world, especially when it comes to trusting and understanding all the facets of real estate investing and what it takes to succeed! He also never asked for anything in return. However, he was my partner and were also working together as one! WOW! We made a great team; eventhough it was only 2 short years. I am truly going to miss him! With that said, if ANYONE wants or needs my help, I will give you whatever you want or need (anything EXCEPT MC's manual of course) in order to help you succeed! Yes, that includes learning on how to get Realtors to work with you, if that's what you so desire (nah, don't worry, I ain't gonna charge you). Therefore, folks, please FEEL FREE to PM me and I will help you in ANY way that I can! That's my true, Naked promise! Cheers, Jean That's a really nice thing for you to offer people! JvM

Thanks for your responses. I think it's "cleaner/easier" assigning to the seller because I create the option & the lease between me & the tenant buyer with me as the seller/landlord, then I can assign them to the owner & give them blanks. It just seems like a more simple work flow to me. Plus I like the idea of having the option to assign to the seller for some deals & to the buyer on others. When you assign to the seller, the buyer doesn't see what you are making, which on some deals the buyer gets "weird" about (even though they see it applies to the purchase price). As far as having difficulty explaining it to the owner, I don't see any problem there. My issue is I'm trying to figure out what to call the parties in the actual assignment docs. I'm guessing I'm still the Optionor, the buyer is just "Buyer" & the owner becomes the Seller/Assignee (since I'm assigning to them instead of to the buyer). I just don't know if that is correct for the paperwork, that's all. Anyone know, or have a sample of an assignment doc for assigning to the seller??? Thanks, JvM

Hi Michael (& everyone), I've been doing lease option assignments for a while & have been assigning to the buyer. I have Adam King's course & have studied Michael's & really want to switch to assigning back to the seller instead. It just seems cleaner & easier to me. My issue is, I have the assignment docs that assign to the buyer, but I can't figure out how to change the language to assign to the seller. I'm doing deals in SoCal, NM & some other cities. I've been signing up sellers with a simple 1 page lease option memo that is super easy for sellers to sign (Joe Crump method). I then fill out the option & lease with the seller & me, then assign to the buyer. I want to keep the 1 page memo signup with the sellers. Then create an option & lease between me (as the owner or landlord) & the end tenant buyer as the tenant /buyer, then assign that back to the seller. I'm not sure if the assignent docs needs to refererence the original 1 page memo I had with the seller (that gave me the principal interest), or just the option & lease I have with the buyer. Plus what the names of the parties are (optionor, buyer, seller/optionee? etc.) Any help is greatly appreciated! Thanks, Jay von Mohr 657-777-3540 www.isound.com/jvm