Learning and Burning

Wow, Still trying to get lemonaide out of this one..... Agreed now that i would get seller a t/b that she approves of, she pay's me 2k and im out of the deal. Well, sounds good but still no real offers for such. Today i get a call from the unmarried couple. They still want the house. Good Grief Naked Brown..... So, called seller and got her to agree that i would get the tenant buyer qualified, sign contracts get monies and give keys. Pay her and send paperwork for who i got in there. She would take it over and i would be out of the deal. Her concernes are the work needed on the house that they could come back and stick her somehow with repairs. As per line #4 in the residential lease option contract. I said we could put a zero in the per incident line. And an addendum added saying she is not responsible for any repairs. That gives her comfort, will that work? Again, i will do all the paperwork for t/b get money give keys to t/b, pay her and send the paperwork to her and im out So, t/b will pay $3800 i give seller $1,200 the rest is mine. No out of pocket to her, she like that and she is good with this. Thinking i got this, and now wanting to know if this works, if so what do i need her to sign? Maaaaaaaan this one's killing me smalls.... Kinda doing an around the corner slightly on the down low then im out.... But deal is done. Thoughts? Could it fly? Am i asking for T.R.O.U.B.L.E ?

He is open to suggestions. He mentioned how would i get paid because he can not give me a refferral fee. I suggested a finders fee, and he said he would look into it to make sure we are both on the up and up... I have t/b's and would like to see if i could find a fit then be out of the deal. The R.E.P is his concern and mine to a point as i just have to cover myself and not get greif...... Details... I bring you Mr t/b. he agrees to the deal and realtor pays me my finders fee of $1,000,000 or half of the option money. Which ever is less.. I think that would be fair.. So a finders fee is what i will call it and all is good?

Want to cover my @$$. Not worth the grief, and want to let him know i know what im talking about...... Thanks

Another day another scenario. Through my emails i came accross a realtor/investor who's house he's trying to rent. Got him interested in me finding him a tenant/buyer. Now his question is how doe's he pay me? I want to find him a t/b and be out of the deal. In order for this to happen what would i need to have him sign? and what would i call his fee to me? He is ready to work with me on this one but needs to make sure he's not doing something that will jepordize his license. As i want to do the same....W

I sent her the answer to her questions. Still waiting on her response. And so i sent out another for a lease with option to purchase this one filled out per our terms for her signature. She has responded with she see's no clause in the agreement for her to cancell. So again my answer would be why would you want to cancell? What is the response to this one. I looked over the agreement again and i dont see a clause for her to cancell.. Is this the case? Trying to make lemonade......

Normally I don't share my contracts. This one IV been corresponding with for some time and I guess became comfortable with. As she kept giving me more info on her situation. So yes I took a gamble. Figured she was legit. Thanks for the answer and well see how she acts now. Thanks again..... lesson learned

I got this seller that has rentals and has inquired about working with me. She's on the road and so been emailing back and forth. She asked to see a copy of my contract. Hesitated but I sent her a copy. She now asked me who drew up this contract? Me or a lawyer? What do I tell her? Not sure. How to answer this? Hmmmmmm..........

Yes. That's a good way to go. I'll have to add that to my bag.... So, now i talked to a seller today, his dad left him a house that he does not want to deal with. Has had renters in it for three years and now having to evict them. Says he wants to keep his name out of the deal, when seller gets financing. Under the table?// He mentioned a quick claim deed to seller/me and he would be paid outside of the sale. Thats what he wants to do. Now again what does this mean? Does it make sence? Is it lagite? Can it happen? WTHeck? Can i swith a l/o to such after? I drove by the property and people are moving out. Will find out whos on title tommorow. Where's the easy one?

OK. I will do more homework on this. So as for my s.l.o's its not what i want to do. But if seller would then i can be out with a finders fee. That part i wouldnt mind. I like it... Thanks Again.

Well, through my marketing Rent to Own i'v gotten this a few times now. Would i consider a land contract instead of a lease with option to buy? Figure because most are not familiar with l/o. As i am not familiar with land contracts. I of course have said no that what i do is specialize in lease and lease options. I want to be schooled on the land contract so to help me in my endeavers. You say this would not include me other then a finders fee. So, when im showing a house and am asked if i would consider a land contract? I guess i would say like i have been. Its not what i do and so NO. Is there any advantage, disadvantage for buyer and seller? vs a lease with option to buy? Learning and trying to keep burning. Working on getting the next one....

Ok, so i keep getting asked if i would do a land contract instead of a lease with option to buy? I'd like to to know what the difference is and if any of you ever get this question when working a deal? Which way keeps my security? Whats best for homeowner? How does a land contract play out in the big picture? Could i take a non refundable deposite on a land contract? Never easy but, always worth it.....

Update. I talked to seller about going back to original slo deal with the new terms. And i would control who go's in the house and gurantee the payment. She talked to her pastor and decided that since she knows of the unmarried scenario that it wouldnt work. with that couple. Had i not told her and the slo was the deal that would be different in her eyes. She has never met the couple. So now if i get her to s.l.o again. I would let them in there and she wouldnt know anything about not being married. So now its a disclosure thing with me. A dilema now to ponder, are you picking up what im laying down? Keeping it alive and still marketing for more sellers....

Again, NO deal. The last t/b changed his mind. From Friday he was all over it. Monday changed his mind.... Time is a killer.... Trying to get seller to go back to the unmarried couple. told her to go back to our lease with option to buy. Letting me sub lease and deal with the unmarried values, and gurantee the payment.. Waiting an answer.... Lemon still waiting for Tequilla. Grrrrrrrrrrr........

Did not get it done yet. Working on getting t/b and seller together today. And am guessing i will need a promisorry note from seller? Anything else i will need? I am looking to have my ducks in a row for when this comes together. Thanks.....

Ok, Got an offer today for this one. Both price and terms changed. $90,000 $1,000 down and $1,000 per month with a balloon in 3 years. Seller is considering it. I will be getting a $2,000 finders fee. Shes agreed to pay me. I'm trying to get this done before tonight @ 5 because thats when her sabath starts. And shes going out of town till Monday.... And now i need to know what i draw up and with who? I have a lease with option to buy with seller now. Closer to tequilla with my lemon.....

So, today got seller pinned down for the whole marriage thing. After talking with her pastor she has decided to NOT allow them into the house. Her beliefs are what they are and shes not comfortable wavering. If they would get married at the court house and have a wedding later, she would do it. Shes kicking her own ass, is the way i see it. But who am i to what she believes.... So i mentioned to t/b that owner still contemplating them and others and would feel more comfortable if they married. Not sure how else to put it. Since they plan on it this summer anyway. They really want it and i really think they are a great fit for a not so great house. My bigger problem is they, are the only ones so far willing to take on the house, and its lost momentum. Interest has dropped as the house needs work. So now figuring a different strategy. Any suggestions ?????? These are the days of my life.....

Nice, It all makes beautifull sence. There is so much here and I think this will help me with whats ailing me and pure options. Its clean clear and to the point. As only a seasoned naked one would say it. Thanks for sharing.....

Glad to see this post still living. I didnt get this deal done, never gave me a reason. So, now i got another in the works, and will find out tomoorrow. I have been trying to work the Pure option more. And to peak interest im wondering what your words are to sellers? I say would you consider selling through a lease or lease with option to buy? I'm thinking its sounds foreign so guessing the no's are based on not understanding. Cause the benefits are no brainers. I really want to close one and so am on the hunt for my first Purer option. Learning and Burning

I am always entertaining myself and those around me. Because this $%&^ only seems to happen to me. As these things happen always, these are the days of MY life... A first for The most naked one here?? AWWW $%#! son. Glad i can entertain. Maybe i do have a chance at a reality show.. I'll call it. This $#%^ dosnt happen unless your me. You might be on to something... Not sure how this episode will conclude or when. But stay tuned as the man is not done with me yet...... Learning and burning....

Ok. Had a talk with her today. She mentioned, why havnt they got married? And if they would go do it. Then have there wedding another time? I told her the discriminitory situation that could arise. She said she would talk with her pastor about such and would get back to me. The t/b do want the property and so are willing to do what needs done, but didnt mention the married now thing. She said she would say it to them if need be. Guessing she's one of those whos beliefs are what they are. Whats a newbie to do????? So, i will look to hear from her and see what the pastor says... Keeping in control as much as possible. All is good for this one beyond the personal beliefs....

So I'm not to mention such to t/b.. am still marketing for the ONE... Interest in the property is dwindled and her terms are squeezing my pool of t/b for the house. She asked if they would make it legal now then have a wedding later... WTHeck? How do I get them to do such?

This one still going. I got that t/b to give up $100.00 for me to know they are serious. I will still market and told them if i get a better deal i would take it and give the money back. No paperwork involved. Property has lost alot of interest, for amount of work needed. So, i know they want it and feel they would be a good fit for the place. And now, since im working on giving my t/b to my seller. She comes to me with are they married? They are engaged for this summer and have been together for 3 years. She has hessitated on such herself, base on her religious beliefs. Not sure how to deal with such, is it as touchy as im taking it?.... Figuring you all are picking up what im laying down??? Seller has made clear that shes a believer from the start. But this is a first for this newbie and how this plays out?????? Praying it works out.....

So. Got with t/b today. Go through the motions then they tell me they wont have all monies till the first of Feb.... told them I'd have to se about that working for everybody. Seller and I. Don't want to stop marketing till I get money for deal. Don't want to lose good t/b.. What would you do?

I dont want to put myself in any situation that gets me grief. So wont be acting as what im not and wont even do it on T.V. So, that guy wants to do an inspection and is making this more difficult then needs be i Think. One of those types. Now got another buyer interested for a lease with option to buy. Seller has agreed to terms, but now i will be simply handing over my tenant buyer to her for a fee then im out. I have a lease with option with seller. She has agreed to take less then original contract $110,00 to $99,000 same terms and monthly. And now i am wondering what i need to have signed? with who? and be able to walk away HAPPY.... Keepin on.....

She's talked to a lawyer about it, and they are quoting $500.00 to $800.00 to do it. Of course its a money thing, and she cant do it right now right now. And since she got the car and boat already in her name with paperwork, sh's hoping she could dio it herself... Monies for a lawyer could be a month or two out.. Time kills my deals....But win some lose some....