Learning and Burning

Great advise, so i am clear with this one i will do a lease with option to buy for the 2.5 acre fixer upper? Get a realtor to deal with the land parcels? And for the main parcel with the owners house on it that they will live in. Then it has a 2 bedroom unit and two studios that they want to rent. Will be meeting with them again on Saturday and want to get my ducks lined up accordingly. What agreement will i need for this part? They want me to manage the rentals. How would i draw this part up?

The homeowner is the one in the house now. And as expected i do not have much leverage in getting her to vacate. So per our agreement i have no obligation to her seeings she is not moving out? So the plan will be to keep good standing with her for when she will really move out. Do i cancel the agreement then redo it when the time comes? Then market for another t/b and my now t/b will have to also be put on hold and make the connection if she is ready at that time. First time i had the seller put me through this were staying. were moving not knowing what the heck shes doing. So i will keep the peace lick my wounds and get back to work...... God is great beer is good and people are crazy...... Kinda how im feeling with this one.

The main one here is one i drew up mid December to start this month. With the owner living in the house and saying she would move out as soon as i get a viable t/b. They have been gone the last two weeks and has made it easy to show. I say this cause when they were in town it was not so easy to show. I got a strong t/b that is pushing to move in by months end that i feel strong about. I have worked hard to get this one filled and about $200.00 into it with marketing and cleaning the yard. The seller texts me today saying she will need to stay in the house for the next few months. I have not responded cause i am not sure what to say. Do i push to do anything different then what they want? Don't know what the flip..

I have a l/o that is due this month Feb. Problem is tenant has not moved out and tells me today due to circumstances she might have to stay a bit longer. I have marketed like a mad man and got a viable tenant/ buyer who wants to meet tomorrow and set up monies and move in dates. So the WTFlip? How do i adjust for such.? Am i responsible for payment if shes has not moved out? Can i make her move based on our agreement? I am hoping to find a happy medium for all on this one but need to know what i need to C.O.M.A on this one and not be responsible for the payment promised per our agreement? Easy going seller but i am the one holding the bag right now right now, is how i feel...`Good grief Charlie Brown......... On a side Expiration date. What happens when my date is due seller and sale does not happen and tenants are still in the property? Do i give back to seller with tenants and i am out of the deal? What am i responsible for with such a scenario and what can i do to C.O.M.A? cover my arse.....

So i have been part time in the office for one month now. No big change in my activity from it so hard to give true results. I am working on marketing through the complex its in and the corner it is on. I feel that is what is needed to get results from this spot. My goal is to get the word out by blasting the location with marketing and so will follow up on this as results happen. I feel it has potential but like all things. I will get out of it what i put into it....

Update on this one. Marijuana tenant gave me his notice in December and moved out Jan 1st. So he made the decision for me. I got the property back with trash and the usual low budget i'm gonna take my ball and go home now cause you made me uncomfortable telling me i'm running a business. Got back on Dec 28th cleaned washed and re rinsed on Jan 26th with a solid tenant who is paying $200 more per month and love love the property. I was stressed for a minute as an empty house is not good and my marketing was a bit slow. Christmas for sure played a part but with diligent hard work this one is back on auto pilot again. This business is all its cracked up to be and i love love it. Smoke break HaHa.......

I found a property owner that has all of these going ons. Seller has a property with a two bedroom unit, two studios and the house they live in on one lot. They have right next door a 2.5ac lot with a house on it that is rough but i feel priced right. Also they have vacant lots of 5 ac and 2.5 ac that they have never seen before. The properties are in the desert Southern California. I met with them today and what they want to do is, live in the house they are in now and have me rent out the two bedroom and bungalows. Sell the other lots and rough house. We came up with numbers today for what they want for rents and sale price of lots and others. I feel they are in the range of being marketable. The sellers are flexible and older with a property that needs work a big bath for the most part. I think there is a deal here for getting viable tenants and sale's of the lots. So wondering what all should i consider for this one and if i do write up something on this, how would i write it up to get all properties accounted for? How do i not become a landlord if i do this? I am open to all thoughts on this one, sellers are easy going and are believers of me and what i do, that's a good feeling.

So, since wrapping my head around The Office of course come the questions. And for sure he is bartering for me to share and i have no problem with it. Actually flattered if nothing else, So some of the questions are. Do i need a business license? Can i market in the strip mall the office is located in? Do i need to get a business name? Do i look to be there daily, all day? I work from home already and tend to stay busy. I feel i can be busier especially at an office to stay focused.. Hmmm? My thoughts are to line up an arrangement for this coming month on the office and not quite sure what all i need to cover my arse. Do it till they tell you not to is how i generally go about things. Appreciate the all the help.

I am not sure how getting in to an office to create and be in business would play out, Reason i am asking is because i went to pay my insurance and deal with my agent who is aware of what i do as we have talked and shared. He has an interest to learn more and perhaps get into the business. His office has 4 or so desk and hes the only one in the office. He asked me if i wanted to use one of his desk for a place to conduct my business for no charge but so he can learn the business, So for no charge i can leave the house to go to work an office in a strip mall about 2 miles from home. Anybody have any experience with an office for this business? I am curious to get thought's on "The Office"

Ok, I have contacted the tenants in this one and comes to find out the dad is who my agreement is with is in the hospital recovering from a surgery. The son is the one living there with his wife and kids helping dad and tending the business. Son say's he does not want to be in any agreement to buy but will be happy to pay the raised rents. And he is not sure where his dad stands on renewing a lease with option to buy so a month to month is all he is willing to commit to till he talks to his dad. Well, that would work seeings they pay on time and are willing to pay more. My scenario with seller will expire in sixteen months and so not sure the best way to proceed with the current circumstances on this sandwich..... I feel the property as a l/o could produce more revenue/option money as apposed to month to month then giving seller property back since current tenants do not want to buy. Dmmned if i do and dammned if i don't..........

The tenant started as a t/b and since the contract has expired is now a tenant. That is the perfect way to work this one out. I feel they will see value in buying the property as it obviously fits there needs. And if not i got time to re market and do it again. Good stuff and am excited to put it in play.

I have the terms between seller and myself under wraps for now. So the question is how would i go about informing tenant about rent raise? I am looking at a $200 raise as with the amenities on the property that obviously fit tenants needs and with the raise property is where market rents would be. What are your thoughts on this part of it?

I talked to the seller and as expected she is full of stress and is being the P.I.T.A (pain in the ass) that i know her to be. I told her that my and her agreement has not changed and i have no real reason to evict as the house and all are in good shape. She then lets it rest. So now that i am in a month to month and there is a business being ran out of the house, what are your thought on raising the rents? I feel with a business there is good reason for raising the rents as long a i am in the right to do so? Also, can i now give 30 days notice to vacate if i choose to do so if tenant does not coincide with a rent raise.

There has been no breech of contract on my end or the tenant's end. So, no reason for eviction. Owner is an old lady who lived in the property for 30 years before her husband passed. She showed up at the property without notice and walked around the property demanding to see in the garage etc. The neighbors she says tipped her off to the growing. So now do i need tell her about the expired contract? She feels i should evict them for expired contract, I do not want to tell her they came due in June.... Now i feel also i could raise the rents due to expired lease now becoming a month to month and they are running a business out of the property. Owner is wanting answers and i'v got to address her sooner then later, How would you go about dealing with nosy old owner? Rotten Owner's anyway....

I have this Sandwich deal that came due in June 2014. Seller went to the property in July and found tenants growing pot. I did an inspection in August to confirm and it is true. Tenant who's contract expired in June is growing pot. Based on what i see he has permits and looks like a professional set up. Owner wants me to evict as she is not a fan. She called the police and was told he is legit and is not in violation so they are not interested. So now leads me to my questions. Am i in a situation where i have to evict? My contract expires in another year and a half. Tenants pay on time all the time and take great care of the property. Owner does not know of the expired due date of tenant but is on my ass to tell her when the lease is up? She is an old lady who has nothing to do but stress even though i have never missed a payment and since the start has put approximately 50k in her pocket. Never ending but im OK with it... Learning and burning... The midnight oil only.....

I got this pure option still working. The issue now is my agreement with the owner has expired as if the 25th of July. Of course my marketing is still getting my phone to ring. Now i got a serious contender and needing to know how this plays out with my expired date. Owner is still good with me finding a buyer and willing to play ball but am i still in the clear to find a buyer and of course get paid? Owner is out of town till this coming week to sign a new dated agreement which he says he will do. Learning and burning.....

Well i figured as much. Guessing the bank is not so easy to take someone off a loan and conveniently put someone on for whatever reason. Now the new question is do you know of it ever happening? I mean without all the qualifying from the bank and their rules, Is there ever a good enough reason for them to do so like you said owner now would have to have a really good reason for this to happen?

I got a lease with option this last week and its all good. Talked to the owner today and he does not want the house as he is living out of state with no intentions to come back to California. He wants me to take over the loan and he will do whatever he can to get me on and him off of the loan etc. Of course this sits well with me but need to know if there is a way to do so? We signed for 36 months the terms and the property are good for what it is. So again is there a way for him to simply assign the loan/title to me and keep truckin? Learning burning and working it.

She is 500 miles away and has not had any interest in three months. Why she can't get a renter I guess because the distanc. Figure I could get one months rent or so if a get her a renter while doing my marketing for houses. Is it something you would do? I'm for listening to what the naked one would do.... rental rate 1200..

I found a house with an out of town owner who is a broker. After talking with her she doe's not want to sell. She has a Realtor in the area that she is not happy with for whatever reason. And so with what i do we talked about me finding her a tenant. Now of course i can not get a finders fee from her per the real estate rules, so now the question is, can i get paid to find her a tenant and have it be on the up and up? Is there a way to make this work? Learning burning and working it..

I hear that. I give no advice for anything i do not know. I advise them to talk to the pro's. Figured it was worth asking here so i can be in the know. He says he will rent it soon if he does not sell it. And of course i share with what i do for an option to him renting. I will be talking with him again soon and let his chips fall where they may with his income scenario as if he'd been on board earlier he could be singing a different tune right now. His deadline is in my favor because time is a killer for him. I appreciate the info and as always i heed the advise. Learning and burning.....

I found a seller who has had this place posted months ago and showed no interest. Now again he is posting and after talking with him he has moved out of the area and the house is vacant, so now he's interested. Go Figure..... He mentioned he wants to sell before his deadline for income purposes and to not have a second/vacation home. So my question is does a lease with option to buy create enough of a sale to fill his need? Either way my goal is to get this one under contract. I will be talking with him again and want to be informed when i do and ask what i need to know.. Thanks Again

I do agree that most is in my own head. Now beings in the So Cal area i see a lot of posting for $400,000 plus homes by owner. I want to follow up on these because the posting appear the sellers are open to what i do. So it go's back to as you mentioned the market for such houses will be smaller. There comes the intimidation factor and being afraid to take that leap of faith that if there is houses they will come. How would you propose i go about marketing? Would i do as i do with the rest or would i have to go about another route? My rent to own signs work and i get calls from wanting to renters to rent to owners with modest scenarios. Now with the higher priced homes and that market i'm afraid such wording will not be as inviting. And of course looking like a newbie when i talk with tenant buyers with bigger money is what i want to get past. So in a naked nutshell this is turned to out be a i got to risk it to get the biscuit..... post. My goal is to get one of these big fish by summers end, so all ideas will be appreciated.... Learning and burning...

Hi All, I am wanting to lean how not to be intimidated by big value Homes. I am working my naked dreams in Southern CA, and the Oregon coast. I have family and properties in both at the moment so my marketing is in these areas. Now brings the question of my intimidation when it comes to homes past the $500,000 range. I see lot of properties north and south in this price range and have gotten some inquiries with my marketing. I'd like to get into the higher end homes as i come across sellers that are open to what i do. One time the first words from the caller was Do i deal with million dollar homes? I of course responded with of course i do. I felt my anxiety go up and was intimidated. A Realtor talked her out of working with me because he convinced her who the heck am i and am i for real. This is what she told me. I have a seller right now in the $650,000 range who is responsive. But when it comes to making the offer i seem to clam up and lose my mojo to make an offer. I am so ready to make the million dollar leap, its what i call it. So any words of wisdom to help get me to grow into the bigger numbers would help me in a million ways.... Learning and Burning

Happy, Happy, Got my first Pure Option signed Today. I took M.C's advise and saved $9.00, giving up just one dollar. Now so to know i filled in the lines correct all is obvious but to confirm i put the $1.00 paid in line # 4 of the Pure Option Agreement? And to get it to the finish line i will market for $5,000 more then the Pure Option states. Now my buyer will give me the 5k and i will give him my Pure Option Agreement? In a perfect world of course i will net 5k. Now what else do i need to have between me and my buyer sign to release me from this and give to buyer? Learning and burning and loving it.