Learning and Burning

Got this girl who's dad passed 3moths ago. Left her with property and stuff. Its paid for and she has all power of attorney and only child paperwork. Now possible pure option and need to know how to get her title handled so she could get it sold. Attorney wants $500.00 to do it. Moving along.

So she signs a purchase contract with stipulated terms with buyer . That's between them or do I have what they need ? I get a signed prommissory note. Get paid and get another one.

So, example. Price. 115,000 $ 5,000 down Amortized over 20 years with a balloon in 3 years. @5% Buyer to do all repairs etc, by that time to get financing. So, for writing this up and how i get paid now, is from the down $? As i was looking to get 2-3 k of that origally. Then im out of the deal. And how would i write tihis up? What contract? and it gets recorded as a ? with the county. You know the old C.Y.O.A that my mom mumma told me bout. Learning waiting to get burning on this one.

Owned free and clear

I'm wanting scenarios to run by her that make sence for everybody She want a deal done... How would that one work?

I do have lease with option and $5.00 at steak on my end.

Don't think the house will finance. Seller is widowed and would like to sell. She's open to getting something done. Been trying to sell herself. Looking to talk with her to tonight about such. Yes buyer wants to do the deal but has concernes as mentioned.

Happy New Year All. Got this s.l.o deal, and the place needs work. Place is nice and livable but needs work. Buyer has seen it wants it but feels more secure for doing the work to it that he wants to have more of a steak then lease with option to buy. Seller is open to such,so now the What do i do to get him his securiity for such? And give seller her security? and keep me in the deal. Im working on the get in and get out part now. No more s.l.o now dine and dash. Staying Hungry.... Thanks again....

You got to laugh your ass off. My lawyer did. I emailed the daughter and son in law yesterday morning. Explaining there is confusion and have been advised by legal to make contact and clear it up. Emailed me back telling me nice try. That i was crooked and i need to get a different lawyer. We would meet in court..... So i called them after that email, and explained again there is confusion and lets clear it up. He told me i was hired as a property manager and had no right to take monies or sell the lots at all, let alone sell them seperatlly. I asked them to look at contract and tell me where it says im a property manager? We did some back and forth all the while keeping my cool. And he hangs up on me. Now im frustrated and call into attorney. she will call me back. Then i start to write daughter and son inlaw a your full of $^%! email and now the gloves are off.. Before i could finish the email, they call me back. Aha. And proceed to tell me Old lady wants me to stay property manager if i wanted to. Of course i made it clear AGAIN i am not a property manager and iv never said i was. I told them from day one i am NOT a landlord and dont want to be one. And that i CAN do what im doing without there permission. So, as of yesterday at about 11;00 this drama has been squashed and i am now back in charge..... All by a calm head. having my ducks/contracts and facts in order. (M.C's contracts and all you naked people knowledge thank you) It was handled like big people and resolved. For the moment. So i will let the sleeping dog rest now. Or is there anything i should do to C.Y.O.A? Then, lawyer calls me in eve. I tell her the events from the morning and she full blown LOL's. A true laugh out loud. And tells me good job. that people are CRAZY... Now, on to the next one.. I love this stuff..... Go Figure.... And so as our world turns, these are the days of our lives...

I heard from Lawyer. She says i have a contract that favors me, and the seller has no right to cancel. (F'n Awsome) And suggest i make contact to figure out where seller is confused about our agreement. And remind her that i have a three years left on my four year lease. So, Of course i will call her tomorrow. And tonight i get a call from the renter in the single house. Tells me seller told him to pay rent to my tenant/buyer in the big house. W.T.F.?? Was my first thought. Well, to try and hang on to income and backend paycheck. And what is right. I couldnt back out of a lease without penalty. Could I? Or do i make sure seller and my tenant buyer are happy and walk away. On to the next one? Which i got a signing today by the way. will share on another post. Yahoo What to do Naked peaple? Will learn more tomorrow and sleep on this $#@! tonight.....

So, I got a call from the old lady. says, she doesnt like that i live in California and the property is in Oregon. She has known iv lived here from the start. I didnt live there when i got the deal. Also, she sent me an email saying i should be expecting a warrent for my arrest. Wont tell me why other then shes not happy that im not in the area of the property.?????? Then i get a call from her son inlaw, with her in the background telling me i am no longer needed and am not allowed on the property. That our next contact will be in legal form...... Anxiously waiting to hear from my lawyer Tuesday. Truly, I am sick of the crap that this old lady brings. For the most part i have gone above and beyond on this one for her. And am ready to tell her to take her granny panties out of her @$$.. Take her sour crabby old bitchy two faced face and shove this property where the sun dont shine.... Ahhh a little venting. Feel better. Now, I would be willing to walk away from the deal, providing the deal with my tenant/ buyer would stay in effect. Is that feasible? Can i get her to adhere to such? If so how? So, will wait to hear from attorney... Now even if i do stay in the deal what will our relationship be like? Really dont want to know... W&D, reading your headache scenario does help me keep cool. And believe its gonna work out somehow. Thanks for sharing. Yahh M.C. GREED. Feeling more and more like thats the root of this evil...

My main goal to stay in the deal is the Money no lie. But, also on principle. As all of us here we do a service for these people and so should get paid..... And i want her to adhere to mine and my tenant buyers deal. Or hes ass'd out.. Also, she has threatened to turn me into the D.A. And that would cause me problems with my rep and future deals... I'v done nothing against our deal.... I heard from Lawyer today and explained the facts. She said the old lady is rediculous and that she would review my contract and get back to me on Tuesday. I got all the rents and am advised to make payments as i have been. Lawyer, sounded Like she could have my back. She said as long as iv payed and adhered to my end. Old lady is out of line. This took a little of the stress away today, but now i hurry up and wait...... Still looking for more input from you groud pounders.. Thanks

I do want to stay in the deal. I have a years worth of managing, cleaning, tenants in tenants out etc. I have a four year deal with the owner. If i do give up, what will happen to the tenant/ buyer? Is owner obligated to his contract? She has received over $14,000 in this one years time. And now get the property back to make even more $ She's made all the money. I was banking on the back end to make my money... Looking to hear from lawyer. Has no one here had this happen before? Stressing out....

Not sure what her bitch is really. Originally i met her with my refferal her friend. Explianed what i do. Then i met with her and her only child a grown women, and explained what i do. Then i met her with her daughter and the son inlaw explained what i do and how it works. Thats when she singed. Then i met with all of them when she moved out and gave me the keys. All this over about a 3 month period. Now i have rents from all tenants for Dec. So what do i do? I want to pay bills as i have agreed to and have been doing. But not if im gonna get the shaft. Dont want to leave tenants in a situation either...????? I have the Pre Paid Legal plan and have sent them the contract That clearly states the deal is for both properties. And line #15 in the Lease with option to purchase Contract states the jist of what i can do. Contract signed by owner with adult children present. They are to get back with me In 3 or four days. Not so sure of these guys. All lawyers for that matter. The one i talked to yesterday said i couldnt sell a property that is not mine. Asked if he was familiar with lease options, of couse he got snooty... Still not sure what owners real complaint is. There has been no breach of contract on my end. Shes in her 70's now and alone in an independant living facility. Im guessing shes confused and has nothing in her life except this property. And something to get attention ...???? What to do?

Ok, So details are as such. I got both lots for $200K $1200 per mo. for 4 years. i handle all utilities. Water, sewer, taxes and ins. Property pulls in $1,900 after pmt to owner and utilities i net $300. per month. Got a tenant buyer in the doublewide,singlewide has same renter that owner had in there. Tenant buyer will take on singlewide when he gets his loan. Leased with option to buy to him for $180,000 the one lot. Stick built has same renter from owner and have not got a tenant/ buyer for thet one yet but current renter might want it come tax time. And tenant of lot one has an interest in it also. I said i would sell it for $50,000 on a lease with option to buy. This is part of the email i got yesterday after owner showed up at property un announced. Your services are no longer needed and information concerning the unlawful collection of funds and the attempt to sell property without legal notice or trust are being filed with the County District Attorney's office. Information concerning the crime is also being sent to the Attorney General, State of Oregon. Your attempt to sell a section of property and your collection of $10,000.00 as down payment for mobile home was illegal and unlawful.demands these funds to be returned to the person or persons it was collected from and your position of authority to sell any property owned by owner and forever dismissed. Any security deposits on any property taken by you is now demanded by owner next correspondence will be from legal counsel obtained or government counsel to determine the court times. Please make no communication This is actually the whole email minus owners name. I didnt get $10 k tenant buyer paid 5k in two payments which payed to clean property from the renter i put in there before finding a tenent buyer. (wont do that again) All with out missing a payment to owner. My goal is to profit to the tune of $10 to $15k after both lots were sold and new loans were obtained. I dont want to have to give it up as i have been working this one for a year now. got rents from two of the renters for Dec. Now what do i do? Hoping for sound advice from here, and hoping to talk with a lawyer soon......

Oh, $#!% Son, Ok, Got this Sandwich deal in 11/11. Theres two tax lots that are attached. One with two mobiles on it a doublewide and a singlewide and the other with a 1/1 stick built on it. This was a refferal deal from one old lady who lost her husband to another to me. I got a tenant buyer in the doublewide, (after a renter that caused me grief) who will get his own loan in a year then take on singlewide rental. I have payed accordingly and have done all i said i would do to date. Lease with Option to Buy Contract. I am a lanlord to the stick biult till i find a tenant/buyer. Tenant of Doublewide wants the stick built one also. No contract for that yet. Got an email from Son inlaw today telling me my services are no longer needed and that i was being reported to the authorities for taking monies on properties that arent mine and for selling one lot only. He says i no longer have a stake in the property or permission to deal with the property anymore. Next time i hear from them it will be in legal form. Iv got $5,000 option $ plus rents from tenant/buyer wihich went to pay owner. Really have not made much money till tenant gets a loan. All is good except for this crap coming from owner/owners son in law. W.T.H? Can a seller terminate our contract without reason? Property is in Oregon and im hoping to talk with an attorney. Where do i stand to tell him to buy me out if he wants me out... More burning then learning right now, HELP.

Aha, So, I Break the bank and give into the five. We sign a pure option agreement, Now are deal is accounted for and i got all i need. ? The Signed Contract. I now market for a buyer who will see the value in my deal, and so willing to pay me for it. And thats what i call the assignment fee....? My buyer and i sign the Assignment of Agreement contract. He pays me my Assignment fee and BAM.... Brownchickenbrowncow.... to the bar. i mean bank... What am i missing? Besides the motivated seller and my buyer?

And worthless doesnt pay the bills. My scenario is owners been trying to sell it for at least one year. Realtor (friend) got sick and owners been working it herself. Shes is open to me selling it for her and making a profit. As a pure option cause she wants no ties to it anymore. Maybe work into Lease with option to buy... Ha Ha.. My goal is to get the best price. Market like crazy and make that paper worth CASH MONEY..... Thats what pays the bills... So needing to make sure i got my agreements in order for who signs what and when? Is the $1.00 enought to make it binding? Sharpening the tools....

OK, As mentioned before im trying to work the Pure Option into my bag of tricks. So a basic scenario gos. Mr Seller would you consider selling your house on a Pure Option? How do you propose it with words he would understand? Im throwing it out there and not alot of feedback. Thinking im proposing it wrong? Now, He agrees to talk and i want to work a Pure Option so my pitch is i will bring you a buyer for the home. And i will be paid by my buyer via an assignment fee? Option fee? What is it called? We agree on numbers. I give him $1.00 and have him sign the pure option agreement. Anything else i need from Mr Seller? Now for my buyer what do i propose to her? House below market? Standard sale? And what do i need her to sign? Im meeting with a pure option lead on Monday and this will be my first pure option pitch so im excited to get my foot in the door with another tool. Ha i said Tool.

My last l/o was the easiest one to date. He had the house for rent, I met with him showed him the l/o advantage and in less then 30 min he signed. He was to move out in 10 days, thats when i got the keys. Went in soap water and a rake, 3 hours of cleaning and done. Marketed like crazy (bandit signs baby) 25 days later got a 4k cash payday with $50.00 a month till Aug 2014 then a 3k balloon. I love this job. Now the pure option i do have from MC, and wanting to add this to my repitwar. I got a homeowner now who is ready to move (relocate) about 30 miles from the subject home. The Pure option line 4 this is where i put the $10.00 i will pay him? And line 7 im in CA and the house is in Oregon. I would put Oregon in state of? Sounds basic, probably why im confused.. Thanks

Hi all. I have been here before (couldnt remember my login)Got MC's program worth every penny and and still getting my monies worth. I have now done a couple l/o and am happy happy. Im marketing and getting calls. But not all fit the l/o scenario, so im working a pure option now and still, not sure sure how to draw it up. And what i need signed and by who? Im looking for a basic scenrio layout, to help me get the jist. Thanks