David Alexander

Cool... let me know how it worked out for you!!

I just sold two houses... Two days!! 15k on a $130k sale... and 5k on a 65k sale... You do exactly like I lay it out in that manual.... The perimeter bandit signs you.. put where people go to work, go to eat, go to shop... High Traffic is the key...

Hey Dennis... What yield you looking for... You brokering? or looking for your own portfolio..

I'm actually setting up shop to do deals in knoxville area of Tn....

I don 't do lease options/purchase or rent to own... I always do straight owner financing with a note and Deed of Trust just like a bank would... Waaaaaaaay back when I did... Rent to own was the lower end crowd... Lease Purchase was the higher end crowd... Answer the phone live either by you or someone you trust to make a deal happen... (employee etc) Once you have spent the money to drive the traffic to the house... why would you ever turn that person over to a voicemail or service that doesnt care one hoot about you getting the house sold.... They are in front of the house... it's time to sell a house.. And with a typical deal being worth 20k plus... That should be one aspect of your business that you don't drop the ball on....

hmmmm..... Completely disagree.... The seller (motivated seller) You are looking for.... Should be... A. Chasing you B. Likely hasn't thought about selling as option until they receieved or have seen your marketing.... and then the AHA happens and they think.. Hey.. they will buy my house and that will sovle my problem... If you chase sellers... A. the positioning is wrong... B. They have likely already spent the equity...

Typically most HOA's ban signs... To overcome that... put them int he windows of the houses... and use directionals... I have a complete step by step PDF that I created for a marketing seminar where folks paid several thousand to attend.. It's the step by step of how to sell houses really fast... it will get you around the HOA Here's the direct link... http://www.banditsigns.com/downloads/eliminate.pdf It's a 3 step process... Perimeter signs - about 25 of them.. (blank and handwritten work well for this, blanks cost you less than $2 bucks) Directionals - about a dozen of them plus stakes (they will cost you about $3 with the stakes) And then in the windows and front yard of the house (those will cost you around $5 each and you just need 2 or 3) Anyway the details are in that PDF... its the system I use and have been using to sell houses since 2003... All my houses sell in less than 2 weeks... So, the answer is handwritten away from the house.. and printed directionals and printed at the house!! Combination of both... Cheers..

There isnt a single case out there where a real estate company has been branded a dealer... Its most often the accountant labeling you as a dealer instead of revamping your entities and structure due to lack of knowledge... on how to dance around it...

There are We Buy Houses specials at Banditsigns.com for $169 And a two color special with flourescent ink for I think.. $1.99 That's the bandit sign I'm using...

hmmm... We offer them on terms and sell them... Tons of buyers in this market looking for deals... and if the numbers are right... ie.. the interest rate is lower... You can still make money on the front and back end... by creating a wraparound loan...

The model I currently Use now... Sub3.... I've never had a single law suit.. (knock on wood) Sub2... was a pain in the ass.... As far as yield spread... My cash flow increases each year... My yields on equity or typically.. 12% - 45%... until cash out... Its been about 1 in 50 properties that I get back have any problems... But, I don't get many back.. less than 5%... and of those... only half that we have to actually foreclose on... And no... my set up is... we don't have to make payments either... Its a business decision.. plain and simple.., Took me a while to figure that out... Me... I got burned on the headache of owning property and being a landlord... Those I often did get back in disrepair... when someone only puts down a few thousand... they are more likely to try and get it back for some reason.. or so it seemed... or try to drag out the evictions... different when there plan is to own the house...

If you understand "time value of money" You can buy a property with little equity.... wrap it... and in 2 - 5 years.. Create monster equity... because of the yield spread... So, you work to get your created equity out of the properties and into cash... Cash - equity - cash I get approx 25 - 35% per year to cash out...

Mine are usually priced a hair below market... Starting with a low 7.9% interest rate... and then rising 1% per year.. to stimulate a refinance... Just for me... owning property eventually bites you in the ass... So, I'd rather just own the paper...

You can't refi L/O's... You can't refi what you don't own... It's a purchase... Wow... just learned something new... It's been since 2001 since I had rentals.. (well had a few left up until last year) In 2005 the fed law changed not allowing BK to affect landlords... that's good news... Still doesn't want to make me go back to wanting to be a land lord...

Shar... A simple system to move houses fast... It's been working like a charm for me... for the last... 8 years... http://www.banditsigns.com/downloads/eliminate.pdf You don't always get the perfect choice of what houses you buy... But, you can market the hell out of them every time.. That's the secret sauce in this business... learning how to move houses fast...

BK.... Would effect both Lease option or owner finance... What I was talking about that I havent seen talked about.. Is.. a performance mortgage in place to protect title... I've seen alot of deals get burned on the other end.. because of that.... Right now... with owner financing... we are seeing down payments in the 10 - 15% and occasionally the 20% range.. Plus... they are automatically set up for a refi... instead of a purchase... But, Yes... I've had BK's filed on deals... it happens about once... out of a 150... luckily it's not common... when your collections are tight and you have someone giving you a chunk down...

I'm new to this board.... and honestly... of course... more of a fan of PURE owner financing... (seen some bad things happen with SLO's) But, just curious... what do you guys do to protect the buyer... not just your profit... Lease options can blow up on the other end... if you don't take some proper steps... to make sure they don't... Guess I was taught old school.... Because in every deal... you not only want the least amount of liability... you also.... don't want to create a situation to where you will inevitably get sued.... by either the buyer or seller....

Hey, I'll let ya'll do all them Lease Options ya'll want... Me I'll keep being the bank.. and just owning the paper...

If it walks like a duck, talks like a duck... Guess what... It's a duck... Meaning.... it's not how you create a slick workaround..... It's how you do business in a way that doesn't seem to be a slick workaround... Slick workarounds... and judges and free Attorneys will eat you alive.... Your deals need to look normal... If they don't... guess what.... It still won't hold up... Of you are dead set on the Lease option route in Texas... Do a 6 month lease option and then convert it to owner financing.... (note, deed of trust, etc..) Creating paper thin workarounds that look like workarounds aren't the solution.... The slicker you look in front of a judge... the worse it is....

Lease Options in Texas... are fraught with risk... It started with contract for deeds... being killed.... in 2001... Then in 2003... Lease Options fell under the same laws... The only way around them.. is to do them under 6 months... Tread lightly... the penalties are stiff...

It's not going to matter... What will matter is likely a good presence... Ie.. can they pick up the phone and call your office... Can they go to your website... and prove your real.. (although I HATE We Buy Houses websites, in most cases... different topic) I hope you aren't using the brochure to skip the sales process... and it's the beginning... You can't skip the dating process... that's what "true marketing" is... It's the ability to make everything easy to get a date... and move forward... Remember.... ever marketing piece has a step by step function... Too many people try to do get a piece of their marketing to do too many things.... Ie.. I use bandit signs (of course, lol) Step 1. put out bandit signs - Purpose: to make people aware they could sell their house - drive traffic to phone Step 2. they call - they get voicemail Purpose: to screen sellers for motivation Step3. they call my cell or after being screened by voicemail*** Purpose: set an appointment to sign up deal Every step has purpose... Too many people want to add extra dance steps... it's like trying to teach someone the rumba who has three feet... Why you wanna make it that hard... Minimize the steps between you and them... Cheers, P.S. Voicemail script - Banditsigns.com/voicemail

You could also, turn this on it's head... I have a voicemail script... (that I borrowed years ago, from one of the smartest investors I've ever known) http://www.banditsigns.com/voicemail/ Grab it modify it... and then... call hoping to get a voicemail... when they call back... send them to the voicemail script which screens them...

Here's a few marketing things to add to your topic... I wrote this for folks who paid some big bucks at a very expensive seminar... http://www.banditsigns.com/downloads/eliminate.pdf It's a step by step guide to selling/renting/marketing houses... and... http://www.banditsigns.com/freeaudio/ Three free audios... that I used to sell for $29.99 1. NoNonSense marketing for Real Estate Investors... That one is a live recording as I was talking to 400 real estate investors about marketing.... 2. Insiders Secrets to Using BanditSigns I recorded to teach folks specifically what I do to get great results from marketing... And btw... marketing with bandit signs IMHO.. is not sweat marketing... All marketing can be automated.. and we have had our bandit signs put out by others for years... 3. The Ultimate Guerrilla Marketing Secret is simply something that most people marketing their businesses seem to miss... Enjoy!!!! Cheers.. David

Buy house for 80k... (underlying loan) - payments $800/month Sell a house 110k... Owner financed... Get 10k down... Create a 100k wraparound... with payments of $1,000/month You make 10k upfront (minus any expenses) You make 20k plus (equity is growing every month) You make 200/month cash flow spread Get the people to refinance in a year or two... (can't do that on a lease option in the current climate) Then after 2 years... you make... 10k from the down, $4800 from the cashflow.. and likely around.... 24k on the backend... So, almost 40k on a two year deal... Not a bad lick... you can do this deal sub2 or sub3...

Jonathan... You know those throwaway deals... that you don't want... I'll gladly partner with you.... And I'll deal with the details of the note management, foreclosure etc.. (if it came to that) Just let me know.... By the way.. check the other forum... mastermind coming up early next year... Always good to have smart people to hang around with...