JvM
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Posts posted by JvM
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Thanks JVM, I am pushing for deals in New Hampshire and South Florida.I will definitely use your ideas on the gmail accounts and 85 at a time.Thank you very much.This forum has the best group,you guys are great.
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
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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
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Haha! A Seinfeld reference! Love it!
You'd think that with the income hit most Agents have taken these past five years or so that they would jump at the opportunity you're offering. But logic has no place in this discussion.
I don't know what else you can do to find an Agent who will live up to their end of the deal. Have you tried to specifically target a new or at least newer Agent? Someone who is looking for an opening to get their new career up and running? They should be motivated, no?
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
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Cool, will do. Thanks Michael.
JvM
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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
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You could have just said: "Bite me, go figure it out yourselves, you losers!" or something to that effect
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
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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
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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
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Need help with the docs for assigning back to seller...
in Lease Purchasing
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??? 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