Joseph44
-
Content Count
97 -
Joined
-
Last visited
Posts posted by Joseph44
-
-
Hi, all. 1st post in very long time. Question: when doing a non-exclusive option where you're allowing the seller to keep his sign up to sell, how can you negotiate a puchase price with the seller to make a profit? Hypothetical: $175,000 his sale price, how can you negotiate less so you make a profit? What am I missing? Thanks, and have a great day!!
-
I provide hard money loans as well as finance in other forms,including financial advice.Andrew Marx,
andrew@aami.co.uk
Andrew were are you located and tell us more about what you do.
-
Good afternoon. Haven't been on for sometime. Hope everyone is doing well. I'llget to the point: I'm looking for a funding partner in and around the Bradenton/Sarasota area of Florida. I'm willing to do equity splits on SFH's for risk involved on funding partner. Right now I need $0.00 out of pocket on at least 1st 4 acquisitions. I would make offers, market, sell, or l/o for cash flow. Funding partner and I would go over offers to see if we can move forward. If interested please contact me so we can meet and discuss further. Thank you and have a great weekend!
-
Thanks Michael C,
Haven't talked to you for quite sometime. How would I go about asking the seller to add me to his home owners policy? Is this a rider on his policy or what? Do you have any experiences with this issue that you might like to share? Also, how do you pop this request if you are getting good terms? Thanks Michael and have a great wk/nd!!!
-
Afternoon Everyone,
It's been awhile. Hope everyone is doing great. My question on a lease option, (sandwhich or otherwise):
Does anybody get insurance on your l/o investment for the term of the lease? Ten/Buyer is advised to purchase renter insurance, but what exactly protects the investor? Thank you, and have a great weekend!
-
Suncoast of Florida:2br/2ba Condo pets ok great location close to beaches,shopping,dinning,min
to I-75 and St.Petesburgh,Sarasota.Condo appraised at $261,000 1yr L/O $1,500pr/mon rent credit
$200.00 toward purchase price.Option of $7,140.00 with 1st and last of $3,000 If option is excercised
all money will be cedited to puchase price.Condo lease option is $238,000(ground floor condo).Condo
can be puchased now for $233,000.
-
Hi Everyone ,
I have a question do I have to get the signed deed when doing a l/o on any propertys
to be kept in escrow?Thanks and have a great wk!!
-
Hi Everyone,
Just to update everybody:I faxed contract to seller on 5/27 he
emails me he has a potential buyer?????He said they close on their
home 6/28 he said if deal falls through he would contact me and run
with the l/o offer I submitted to him.We shall see!!!!Thanks for all the
help and all have a great day!!!
-
Hi M.C.
Thanks M C for the jolt sorry this took soooo long Thanks again.
-
Hi Everyone,
I have a prospect for a l/o. He just e-mailed me and asked what am I willing to risk for the performance of this contract? I'm assuming he is referring to how much money I'm putting in. Did anyone ever have this question asked of them? If anyone has how did you respond to your client? Thanks all in advance, and have a great day!!
-
Hi Everyone ,
I think I just had a senior momment could someone please explain a cooperative
assignment with a seller?This seller doesn't want a lease/option.But when I offered a c/a to her
I just went blank.Please I need a jolt.Thanks all and have a good wk/nd!!
-
Hi,H/M/L and wellcome,
No I plan on doing this if accepted.I sent contract to him
Sunday nite.Question never was asked before about utilities.Thanks for the reply and answer.Have a great wk!!
-
Michael C & RobP,
There is a shot circut here:I have 120-4months to locate
a ten/buyer.I have a 3yr/option with 3-12month automatic extensions.
the buyer does not have to purchase in 4 months.I'll market 2 ways
$355,900 all cash or $368,300 on a l/o.Thanks I hope we are on the same page now,I will fax this agreement tonight.The only change I will
make in the contract is lessor agrees to pay all utilities and monthly rent for 3-6 months while ten/buyer is located.Thanks again and for the great responce I really appreciate the help.I'll let you know if it flies.Have a great wk!!
-
Hi Michael,
Michael would you please explain your reasonning for not doing this deal?If I can't get a ten/buyer in a 120 days 4-months he gets the home back,but thats not what I want.I have till Sunday evening to send
this paper work to him.If you can give me an alternitive to my above
please don't hesitate.Thanks Michael have a great wk/nd!!
-
Hi Michael C,
Answer to your question:Would only go 1-4 months to find a
ten/buyer.This will be a sandwhich l/o with the right to assign or sublet
the home is brand new (he speculated on it).homes in area selling for
around $350,000-400,000.Our purchase price is $325,000 I plan on a
$355,000 cash or a l/o of $368,300.I'm getting of track should I pay
utilities and services.I think this will be interesting there were a lot of
speculators and there are quit a few homes for sale all on same block.
I would realy like some thoughts on this I told him I would fill out the
contract as far as I can he will fill in prop/info and send it this wk/nd.
Thanks everyone and have a great wk/nd.
-
Hi Craig,
Thanks for the reply answer to your question:I have a possible Lease
option.Thanks
-
I have a possible deal with a seller out of state. First time doing out of state deal. My contract covers about everything except, (this was never an issue till now), utilities. He wants me to take care of the lawn and pay electric bills. I will have an option on the property for 4 months. My question: should I agree to this? In my contract I have Lessee is respnsible for payment of all Utilities. I don't want to pay anything, only a few dollars to seal the deal. Or should I add this to the addendum that seller is responsible for utilities. Everyone's thoughts, please. I need this asap!! Thanks everyone and have a great day!!
-
Hi Adam,
I think you and MC are right I think I'll let this one go and concentrate on other things
thanks again men and the both of you have a great day!!
-
Hi Mishael C,
Hope all is well with you and by the way your post is exactly what I was asking about.
-
Hi Folks,
Does anyone have any good ideas on how to puchase during a divorce?
I just started working divorced couples.This is new to me I want to know what
works best for all parties if 1 wants to cash out and the other don't know?Any
advice would be appreciated.Thanks and have a great wk/nd!!
-
Hi Everyone,
I haven't been on the site for many moons. Very busy with rehabs. I could not refrain from asking: all the banks I talked to said they could not give foreclosure info out not, even f/c lists after telling them you would take them out of their inventory. I'm curious, also, how did you get the info from the bank. Have a very good day!!
-
Hi Steve and everyone else,
I live here in fl suncoast,I run into the samething when
calling frbo NObody will commit to a puchase price upfront.Thae want to wait
till the end of the lease period.The problem you can't sell a home to a t/b on
this type of term.Or (can you)?Thanks and all have a good day!!
-
Hi everyone,
I'm not new to investing, but to doing options I am. I was just reading Cannon's and Rexford's take on pure options. My questions: 1) What is the reaction of your buyers when they find out they paid x amount of $$$$$ more for the property than what the owner wanted?
And 2) On a pure option you're selling retail. Where do terms come into the picture? This I don't understand. Maybe I'm having a senior moment, but could someone elaborate more. Thank you and have a good day!!
-
Thanks Kimberly,
Thanks Kim but you lost me on the comps how do I find price
pr/sq foot?Then I multiply homes sq /ft by that number.One more thing Kim
do I multiply what is under roof or the complete sq/footage?Thanks for your
help I appreciate it.Have a good day tomorrow!!
Non-exclusive Option
in Lease Purchasing
Posted · Report reply
Thanks Michael C for the warm welcome,I love your answer I thought it was terrific I guess I have been away too long.This is still a good place to learn and I'm always learning.Thanks and have a great day!!