Learning and Burning

Hello all, I am working my first Pure Option deal and making sure i have my ducks in a row. Seller wants 50k for the property he owns free and clear. He's owing 15k in taxes and so looking for a buyer to get something out of it before taxes take it. I think i could market for 55k as the comps are in the high 70's. I want it to move quick so pricing it to get attention. So now the agreement i need is the Pure Option only? And the monies I give the seller $10 dollars to make it a deal i can market? What all else do i need if anything to know to get this one to the bank? Thanks Again

So, I have pawned my son off to Uncle Sam.U.S.M.C (Thank You Son and Sam)...and now am looking to down size as i am solo and renting more house then i need..... Now, in my marketing i have a seller who is open to leasing with the option to buy but he does not want me to be able to sublet. Since i am considering this place for myself i figure i could be good with such. Now he mentions getting another agreement drawn up as the wording in mine says sublet. A different agreement, then we have is the part i am not 100% comfortable with. And would like to know your thoughts on this scenario? Can this one be modified for my protection? Hmmmmm??

I get this often, where the Professional (Realtor) is posting an add with no mention of there presence. My efforts go towards the by owners and when they reply to my questions in that who the BLEEP am i to even have a clue attitude really CHAPPS MY HYDE....Normally i don't respond as they suck my energy. But now the short and simple answer from Da Man himself in this post is all they will get out of me,,,, bears will stop $($##(&^ in the woods before i deal with the likes of her,,,,,She hasn't called Go Figure..... So a Realtor has to mention there position in the ad? Even if they own the property? Have you ever done a deal with a Realtor? Do they not teach lease options in R.E class? Because some iv talked to are clueless.....

Great answer, I sent to her word for word and she did admit she is a broker. Her response was kinda like oh snap this guy does have a clue, and he wont be intimidated by her bullying. Seems these kind of people get butt hurt when a guy is capable of thinking outside the box and making it work. Go figure, now she will probably want to get involved to add to her tool box. Says if the house does not rent in a week she will make contact... Not holding my breath..... Learning and loving it.

Good Day All, I'v been away from this forum and the business for a minute. I ended up with a J.O.B. working on someone else's dream. As usual that doesn't seem to work out for me. So I am back and ready to rock and roll. I'v been getting activity again and of course i got an email response. Asked if she would consider leasing with option to buy? Said she would. Sent the faqs sheet and got this question. How can you legally Broker such a deal without a real estate license? Her exact wording. Not sure if she is a Realtor as she posted in rent by owner. I'm guessing she is. So my question is what is the best way to respond as to set her straight in a short but brief answer? Excited to get back on my dream train....

My little bit is you got to get through the no's to get the yes. It only happens with being active And a shout out to this site for always being there sharing what we do.

Thanks, again great advice I feel the same way about it. This one so far has been working as planned good house good tenants. She wants to do some repair on the wooden fence. What are your thoughts on that part?

I have a Sandwich that is due in August. My terms with the owner are due in august 2016. My t/b has called and said she would like an extension for one more year. My terms with the t/b expire this year. This t/b has paid like clockwork and no issues. So, would you extend the terms,? Which I am in favor of vs finding another t/b. And what paperwork do I use to extend one year and cover my butt? Learning and burning

Awesome. So, if the lender is in tune and ready to facilitate the deal I should let her? She will get together with her title co/ attorney to fine tune this one to the finish line. I will keep all abreast of the status and any peripherals is all I need to do?. Except get paid again when it closes... Yeah Baby.. Thanks Again....

Hello Investors. I got this sandwich deal coming due and it will be a first for me. The owner called me and said he's considering his house back if the tenant/buyer does not exercise there option due in April. Since I have not gotten this far on one yet, I'm wondering what I need to do to get this one to the finish line? I got a lender that is set up with the t/b, who called me today and asked who will facilitate this deal? She said she would handle it but I need to get her in contact with the seller as to write up the deal. Is this how it works? She is versed on the lease with option and sounds like she know what she's doing. So, I want to make sure my ducks are in a row for dealing with the sandwich coming due. I feel great that this one has come along and am excited to experience the finish line. A shout out to all you naked investors and this site.

Hi Gang, Its been a minute since my last post. I got a 8-5 and seems to distract me from my the naked world of real eastate. For that i do appologize, but feels good to get in the mix and hear from all the hard working, wont take no for an answer investors. My question is on a slo iv had in place since 2011. Since the deal was done there is trouble in paradise. The wife moved out and now want to get off the lease. He wants to keep the house and stay in the deal but without her, go figure. Wondering what i need to do to get her off and keep him on the lease /option to buy agreement? Please advise....

Awww $&@! yeah. I like the devil inside. Devious, scrupulous, flippin Awesome. I will do something to grind her gears. Everytime i see the posting, it grinds mine. I'd say you've done this once, cause its genious. Truly diabolical, and i love it...... Its go time...... Will keep this one going, case i dont give a bleep. She will pay oh yes she will. Learning and Burning..

Im kicking my own ass for that one. I want to flag her postings but that would take away energy for finding motivated sellers. So, ill let her deal with her own self and that one thing called CARMA. Its real and she will get hers. Will not do that again for any deal... Once yeah, twice Helllllll NO. LEARNING.

Yeah, had one of the let me see your contracts last month. Within a day she was posting her properties for lease with option to buy. Wont do that again.... I figure the cost of NOT doing business with these types. Priceless. So i will tread lightly and carry a big hammer. Learning and Burning....

OK. Gentlemen. I'm feeling the same way as she's trying to control the deal. That's why I do this so I can be in charge. Trying to dance with someone who wants to take the lead. Gets my toes stepped on and she ain't little. Emailed her last night a lil more info but not the mothership website. And she trying to put time frame on me. Hell no... She either wants to play or not. She's the one paying for an empty house she can't get rented. Thanks guys. I'd like to get her business but not at the cost of being bullied.

She wants me to give her where I get my info from. Do I give her the naked investor site? Ha ill tell her I learn from the naked investor... kinda funny but the truth what do you think? I looked up the occupational code for California and not sure what I'm looking for there. She asked how I do this and not be a Realtor? I mentioned the five dollars and she asked me where did I learn this? Is there a law/statute I can look up and send her? Working another pain in the @$$... learning

Lol. I am for picking up the flippin Morons....... Im thinking its time to start charging them more for being a pain in the @$$..... Can i add if your going to be an Moron clause????????? I do agree about the trying to be smart. She cant get a renter and is now tired of paying for an empty house.... And here i come to save the day... Always liked saying that.... I'll just google the rules book for lease's. Not sure what else she would want. She is a good lead for more houses that she and her dad own. So, trying to get her the security she's asking for. Will keep you posted.

I got a seller, who is ready to work with me on a lease option. What she wants is some legal info of what i do and how i know what i do is legit?.... She wants to know where i get my info from contracts etc. She wants to know the law will allow her to work with me and that i am legally able to to what i do. Her husband was a realtor and the legallity of this is what they want for security... Typical realtor C.Y.O.A cause they cant get it done themselves. Is there any info i can get to send her to give her security that what we do is on the up and up? What could i send her? This is a California house. Not sure i want to send her the naked investor website.... Any info would help. Never had this question so learning and want to get burning....... Thanks Again,,

Yes. The t/b are the original un-married couple. I went with the dont ask dont tell theory and as suspected there was no mention of anything to seller. All has been completed, i got paid, seller got tenent/buyer to take on the house and the work. Tenent got the house. So persistance and all the input from you naked people have helped me get this one DONE. Was a rocky trip to the finish line, but all is good in the neighborhood. Now on to the next one. Thanks again..... Learning and Burning

Well, well,well..... Tenent signed and paid. Original non married couple. Seller met them and didnt know them from Adam. Ha go figure. Dont Ask Dont Tell. I had a friend get signatures. She signed in place of me on the paperwork then signed. Not sure how else to do this, as i was out of town and didnt want to miss out again on this one. I now have lease and option to purchase contracts that i will sign and send to seller. Along with applications etc,as i will now give my option back to seller. She wants to manage it. No problem with me, tenants and her to do it this way. What will i need to send her to complete the deal this way? Im paid and now got to cross my t's and dot my i's.... I learned the most with this one and want to say thanks for all you keeping me in this one.. The hardest one for me yet, and not the biggest payday. But im good with it because what i learned PRICELESS.... Thanks Again all you Naked People. On to the next one...

I mean does it make dollars? If so what would i need him to sign to get me in the door with this one? Thanks

Seller wants an outright sale. I feel price is fair market, so dont know that there would be much of a steal. My first thought was a pure option and not sure that is the solution. I asked him if he would consider a coop to get it sold and thats how i got him interested in working with me. So is that something that makes sence? I Learning and

So, my Lease with option with seller is good? Now, i will have t/b sign the lease and the option to buy contracts? I will then hand over the contracts from me and t/b to seller with her money and thats all i need to be out of the deal? Do i need the assignment fee form? If so that is with me and the seller? Yes persistance is one thing iv been called. Rotten people dont know whats good for them most of the time. So hoping it will pay off. This one has put me through the paces and Man, did alot more learning then burning....... Your help is kept me Focused Michaelson....... Wax on Wax off to the next one........

Hello guy's and gal's. I have an investor who has been working with a realtor and not happy as he keeps telling him to lower the price and that open houses are a waste of time, and thats not how he sells houses.......Lazy im guessing. I have him now ready to work with me to get the house SOLD. He's in L.A and the property is about an hour away. I'm about half an hour away and would like to see if i could make this my first pure option. Seller is calling me to meet at the property Friday and wants me to send him my contract so he's up to speed for when we can meet. He wants to work with me as a coop or something of the sort. The house is nice, vacant and ready for marketing. I think he has it priced right, just not getting the attention that it deserves. He has cancelled his listing and now wants to see if i could make it happen. Now the what do you all think i could do to make this a winner, my first thought is Pure Option. Not for sure thats the way to go, as the seller said he would pay me to bring him a buyer as well.... Learning, learning and kinda burning......

What i have signed is a lease with option to buy contract with the seller only. For $119,000 and $600.00 per month. Getting her to agree to re writing this has been difficult as she keeps refering to her l/o she has in place with another house. One that was put together by an attorney 5 years ago. At a cost of $500.00 10 pages and more detailed then mine. As of Monday i got her to agree to let me get her a t/b for $99,000 @ $600.00 per mo. She wants to manage the property once i get her a t/b and im good with this. Now, i have the unmarried couple wanting it still and want to sign on Friday. They will have the monies needed sign paperwork with me then i will give all to seller. I told seller i have someone ready to do it and have kept it at that. She is ok with this scenario, i did not go into detail who i have and she didnt ask. She doesnt know the couple from adam and so once i get this signed and money in hand, i will give them the keys pay seller and send paperwork to her. Deal done, I hope. She has agreed to do it this way. How does this sound? I want to get whatever i need from seller to her today. So, come Friday my ducks are in a row. Not counting my chickens yet. so im looking for answers and input for working this one as described..... Thanks Again.