DeeLight

OMGOSH!, I can't wait to see them!! the pics. I have a dream of owning a prop there and living there half the year. I'd go there and live permanently but I'd miss my kids waaaay too much.

lmao! Glad I never had those crazy pictures put up on the web To clarify Michael, not many properties under 1.5 mil. But that was just one site. There are several in areas pretty close by. I just started to look. I am re-reading the course. This isn't rocket science but to a newbie to this niche understanding how and why I'm offering a CA takes a bit of learning. The forms are what I need to practice the most with. I can talk to the most difficult person face to face or on the phone but sit me down with a form to fill out properly and I choke-----gack! PropertyMagnets Here are the FSBO sites that were posted those many years ago; I found that some aren't around anymore. You can find more with a G search. www.virtualfsbo.com www.homeportfoliojunction.com www.onlinerealtysales.com www.2buyhomes.net www.forsalebyowner.com www.byowner.com www.owners.com www.allthelistings.com www.forsalebyowner.com www.US4salebyowner.com www.fsbo.com www.fsbon.com www.UShousefinders.com www.freelistings.com www.helpusell.com www.fsboonline.com www.nofeelistings.com www.privatesalerealty.com www.privateforsale.com Michael thank you for sharing your encouraging email mkting story

Thank you BTI. It sounds like you have quite a bit of experience in this niche. Life is lived by breathing in and breathing out. If we are only breathing in we will die. Just the same, as we will not live best by only taking in and not giving back.

I am wondering why this thread just died suddenly. We never heard if people got deals from all those responses : / There aren't a lot of fsbos in my area but I will go into a nearby neighborhood about 45 mins from here. I'd love to hear how email mkting is working for you

WOW! Great Michael, just the info I was wanting. Thank you so much!

I've read a bit here and there in the forums about real estate agents working with us. I'd like to get a clearer picture of how we could partner with these people to get more deals. I have a few agents that I have recently begun to form relationships with and am wondering if and how you work with agents to present a win-win scenario. I think new agents might be more willing to work with us. Any thoughts?

Yes Brian, It would be done on a down-low kind of personal passing on of information between the customer and the trusted hairdresser friend. It's hard to understand, even for me after so many years, why this hairdresser/customer bond is so strong. All the hairdresser would need to say is, "I know this guy that I think could help you" and hand a couple of cards to them. The ideal would be to have several salons as referral sources. It would be best to even visit the salon and hand out the info package however it is very hard to get the salon owner because they are either BUSY or not in the salon. Let us know how it goes.

I wanted to share with you a marketing idea that could pay off well for you---maybe even as well as direct mail. I owned hair salons for 30 years. I really should have a therapists license by now for the huge number of people that I have had the privilege of sharing in the joyful events of their lives; And cry on my shoulder when their life was going rough. I walked with people as they got married (and wanted to buy a home), had children (needed a bigger home), got divorces (needed to sell the home(s), traveled through grave illnesses, lost husbands/wives . . . I think you get the picture. Hairdressers are the unsung mother/father confessors. I had both men and women tell me things taht they probably rarely told anyone else. One of my marketing exercises will be to send a nice little package of biz cards with a letter stating that I would love to help anyone they know who could use some skilled and creative help to solve a real estate challenge. I will of course offer a thank you gift to the hairdresser for referring people to me. I haven't worked out all the kinks but I KNOW without a shadow of doubt that salons are a hotbed of leads for any biz and especially for r.e. Just thought I'd give you food for thought : )

Yes Michael, some of the best food I've eaten has been in lil hole-in-the-wall places like this. What were you doing on "the Avenue" lookin at props?

Thank You Michael & John, Well advised! I am starting my second read of the manual. I think the thing that makes me a skitsy is knowing when to use one type l/o over the other. but it may get clearer after I read the manual 2-4 times. My main talent is people---rarely ever meet a stranger---if I do tho it's cuz they WANT to be a stranger. The financing part is something I will learn as I go along. And then I know that you are here for me to ask questions before I get myself all twisted up yum, scotch! I'll treat myself after my 1st deal. I found it interesting that I found 3 postings on CL last night wanting l/o's. I'll chat with them and see what's up (thank you Michael). I'll keep you informed. Has anyone here just happened to find a buyer 1st and then found a prop? It seems like it could be a bit more challenging. But then if I smell $2k or thereabouts waiting for me, nothing seems too hard. Many thanks !

Hey All! I am so happy to have gotten the L/O course! Sure enough I have some questions---many---but here's just a few: 1) I read somewhere here NOT to use the word sublet---right?? 2) In Calif. there are many qualifications to be a "property manager". I think this could cause a snag in the ease of the conversation. And too I know that occasionally realtors call on ads---or I may call on one of their props. I ran into this years ago. They get super ticked off (to put it nicely) that we are doing the job of a realtor without a license. How do you handle this? Maybe use a different word than property manager? 3) In marketing materials has anyone run into a problem with offering a referral fee? 4) What determines how long you want your rent term to be for your t/b. I've heard 1 yr, 3 yrs etc. Is there an advantage for me to have a longer period? Or is the point that I get a 3 yr from the seller and then give the t/b 1 yr at a time? What percentage of them squawk at the additional option money required to extend their lease for another year? Do you just kiss them goodbye if they do? I will not always be this ocd : !! Thanks!

I thought this was info to put into our internal data bank---for those who like to invest in other markets outside their areas. . . or to know where you stand in the big scope of things if you live in one of these places. http://www.forbes.com/sites/morganbrennan/2012/06/14/the-best-and-worst-cities-for-renters-2/2/

Michael, If you come to my hood, I'll treat! It's the least I can do. I know the place you're talking about but I can't remember the name. Hmmmmm, but what would we talk about??? lol

Hi Steve, Thank you for your insights. I like what you said about it working to the good of all. Our reputation precedes up and can follow us too and bite us in the arse hehee. I'm saving that post!

Hey right back at ya Pilot! No, I met a new girlfriend about 9 yrs ago who was doing l/o's (I was doing preforcs). We have never met but stayed friends thru the phone lines all this time. Her name is Natalie. I told her last week that I was interested in l/o and she recommended the Naked Investor. So here I am . . . and so glad to be here. I am in the Ventura Ojai & Sta Barbara areas. I'm gonna start here but my goal is to market in Vegas & the greater Phnx areas in the near future. No, I lie, I want to market everywhere. . . full speed ahead baby ; >

Thank you Michael. 1) I don't even know enough yet to know what a CA is but I have heard that in some cases the seller agrees to pay a certain amount over what the prop can be rented for. heh maybe that's what a CA is :~? 2) Yes, I've heard the stat through a couple different sources. But of course, you are right, they would like to be a home owner if they could. I've also heard that the boomers are looking for smaller abodes as they downsize. This could bring more t/b's for smaller props. Just my inexperienced thought. I am sure you would know best. I know here in SoCal there is a market for 1+1's and 2+1's. Heck even garages could be rented lol. Very competitive here, especially along the coast where I live. 3) I've met people that have companies that offer credit repair to their l/o t/b's toward the goal of getting them financed at the end of the contract. I've also read that some people using l/o as their main biz don't care about if the t/b can qualify or not because they get to rinse and repeat repeatedly on the same prop. I guess these are all things I will learn as I go along. 4) I haven't cherished the thought of being a landlord again. Done that a couple of times but I lived on the prop. With my plan to do ooa deals it's a bit nerve wracking. The thing is, for me, life happens. I don't look so purty on paper but I am the world's best tenant. I may have to put away my desire to help others (that could truly deserve it) and become a numbers kinda gal but it's a challenge. I am very excited about this new venture. I will begin marketing on Monday. YAY! Thanks to you Michael and all the fun people/investors here at NI ; >

Hi Michael, SO great of you to respond so quickly. I am in Ventura/Santa Barbara areas in SoCal. However I have dreamed for many years, even when I was more of a noob than now, to do deals in many locations. I would just need to have someone there be my boots on the ground. I will start local and expand outwardly. I have always been a 2%er so I I know I can do this ; > I really don't feel like I know enough to even get started tho---right now. I know l/o is about rent to own; can't remember the details tho. I've heard that I should market to the nice lower end of the farm areas near me. I don't even know if that is true. I will start emailing soon---every for rent and for sale ad from here to kookamonga. And I used to be called the cold call queenm so cold calling isn't a prob. Is there something I could read here on NI to get the overall basics? See this is why I thought I could pass these on to one of the great people here----I don't even know what to say to the potential seller/lo candidate when they are wanting to do "it". If I passed a couple deals off I would have the money to get your book---maybe even the mentor program (haven't looked at that yet). I am super excited about this Michael!! I'm havin' a hard time sleepin' lol.

These are questions for all you experienced veteran l/o investors out there: 1) How has the current market affected the l/o's appraoch to crei? 2) The stats are that we are becoming a nation of renters (in usa) does this affect the l/o biz positively? 3) How is the current stringent (stingy) allowance of who gets a loan affecting people puchasing your l/o 4) In what ways have you had to adjust course over the last few years? Thank you very much!

Hi everyone, I am coming out of some big challenges in my life and returning to the industry that I love, crei. Back in 2002ish I did a bit of wholesaling and worked with preforcs. I always wanted to do l/o's but didn't have the confidence and not enough money to purchase a course. A girlfriend pointed me in this direction and I am so glad. This is a super forum and it's amazing to me that Michael actually shows up here!! I like how helpful everyone is . . . and the humor is fun ; > I want to build up some cash for getting the course from Michael and expanding my marketing plan. I don't know enough to do a l/o on my own and don't have the forms necessary. SO I thought maybe I could market, get some leads and pass them on to some of you who know what you're doing. Bird dogin' I know I'd be leaving a lot on the table but I'd rather do that than screw up a deal. Whatcha think? Thanx!

Michael, It's always a pleasure to read what you write. How did I miss that you have an ebook. I'll have to check out your profile on BP (where I do a lot of studying). Soooo, your book is on Sub2 . . . those have to be some of the most motivated sellers! David thank you for the resources! Thanks for your contributions Melodee