Max0r

Let's hear it

Aww, too personal? You mean nobody wants to get to know me and make me feel special?

Well, he mentions multiple times in text and video what to do, and he personally stresses that if someone doesn't want to deal with you it's better not to waste your time and just move on to the next instead of agonizing over the details. He did say however, that if we're absolutely desperate he might do some initial information collection calls with us. Normally we don't do the 3 way calls until I send in a property info sheet and it looks like something that might be workable. He's really strict about not wasting his own time and he tries to instill the same thing with students: don't waste your time. I feel like I need to sharpen my teeth with experience a little more before I can call in the favor to have him do some initial lead contacts with me, after all I'm asking him to agonize over little details of marketing with me. They might mean everything to me, but to him it might be trivial, and perhaps rightly so. Plus him and I have very different personalities, even though I like him. What works for him probably won't come off right with me. So I have to develop my own style. However I figure once I do a deal with him I have earned the right to see how he does it, if for no other reason than my own entertainment

I mentioned in another thread that I hate not shooting straight so I thought I would write up an ad for craigslist to attract potential tenant-buyers so I can build a buyers list, one where I don't play pretend about having tons of properties available right now. Here's something I wrote for possibly posting on craigslist as an advertisement Now this might be too long and self indulgent, maybe it's better to be an article on my website or something. Anything inaccurate? ANY AND ALL CRITIQUE IS SOUGHT! --------------------------------------------------------------------------------------------------------------------------- Still Working On Your Credit? Allow Me To Help You Own Your Own Home With The Lease Purchase Alternative Hi, I'm Max Mattenson. I'd like to tell you a little about myself and what I'm doing here, and how I can help you buy a nice house in a nice neighborhood. More than half a year ago I became obsessed with creative real estate investing and decided a few months ago that this is the business I want to be in. I noticed that a vast majority of people who get into the real estate business are using the traditional buy and hold method, aka renting out to tenants. I've been a tenant nearly all my life, and I can say one thing with great conviction: the only thing I hate more than being a tenant is the idea of being a landlord! Just ask most landlords how fun their job is I've always hated apartments, and rent. In my childhood I lived in a house for about 6 years (NOT rented), and in many ways these were the best years of my life. Nothing could compare with being truly alone when my parents were gone from the house, no other tenants in other units banging around, falling asleep in the back yard on a warm summer afternoon, being surrounded by 8 foot tall bushes. When living in a rental there's always that feeling that someone can just come in at any time with a 24 hour notice (which can be left late in the evening the day before, or even early in the morning the same day, who's gonna challenge it). A rental is never a home, not really. Go ahead, try making your rental a home when your landlord can decide at any time to sell the property to someone else, or not renew your lease at their whim. Try modifying the house or making improvements. If the landlord doesn't approve, tough luck. Hell, maybe you have the best landlord in the world (yes, these mythical creatures do exist out there), but situations change and the currents of fate may take this landlord away from you. I have my own dream of owning my own house. Almost every day I hold an image in my mind of the house I want. The neighborhood, the configuration, what I will do with all the rooms, what my daily life will be like living there. I've never had any type of lucrative career, having lost interest in all endeavors rather quickly. But the more I get into the creative real estate business, the more I can't imagine doing anything else for a living, even after experiencing some severe ups and downs in this business. A couple months after I discovered creative real estate, I found a teacher who specializes in lease options, also known as rent to own, renting to buy, or lease purchasing. He's been in real estate for over 40 years, and specialized in lease options for 20 years. My mentor is personally handling the deals I bring to him and walking me through every step of the process so I can eventually do deals on my own. Lease options have been around for decades, used across the nation, for the benefit of sellers, buyers and investors alike. (we call this win/win/win) AND YET... despite all the advantages lease purchasing has over conventional house selling, there is still far more demand for them than there is supply. For proof of this, just check your local housing market! I want to help you stop renting, and start RENTING TO OWN your own house with the lease purchase alternative. If you have the income to move into a house but your credit still needs work to qualify for a mortgage, I can help you secure a house now instead of months or years from now. Perhaps you'd prefer to shop around for better mortgage terms at your leisure without losing out on your chosen house (why let the banks have the power?). As a prospective home owner I'm sure you've noticed, virtually every house available on the market has only two ways you can move in: conventional purchase, or rent. Purchasing a house through the traditional route isn't working very well for many people in the market. Just ask the house sellers how many years their property has been for sale! There are many prospective home buyers out there who can afford a house, but simply cannot get a loan yet, or can only get a loan on awful terms. My job is to help people secure a house with a lease + option to purchase while they work on their credit, shop around for the best mortgage, or simply try before they buy. We'll structure the term of your lease option to give you plenty of time to build your credit to acquire a mortgage and purchase the house in full. All you have to do is stick to the gameplan that you work out with our mortgage broker to get your credit where it needs to be. Guess what? If I can't help people lease purchase houses, I can't move into my dream home either. If I can help perhaps 10-15 individuals or families move into their own home using the lease purchase alternative, and begin turning this venture into a smooth running business, then I will be in a good position to do the same for myself. By the way, when the time comes for me to move into my own home, chances are I'm going to be using a lease purchase to get it! Can you see why I love this business? Here's how you can help me help you. If you're interested in exploring the possibility of purchasing a house on a lease option, please go to my website and take a minute to fill out a simple form, submit the form, and you will be added to my buyers list. Having a good list of buyers in the area really helps me to get properties under contract from sellers to lease option. I can't put on my wizard hat and wave a magic wand to make houses suddenly appear out of nowhere. We need sellers to do lease option deals, and if they know there are good buyers out there looking for a home in their area, buyers who I'm personally dealing with, they will be much more interested in doing a deal with me. More houses under contract = more houses to sell on lease purchase, instead of traditionally = more opportunities for you. As a member of my buyers list, you will be the first to know when I have a property under contract that matches your criteria. It only takes a couple minutes of your time to join my list, it costs nothing and there is no obligation whatsoever. You don't have to enter tons and tons of information at this juncture (that can be done once you've chosen to lease purchase a specific house I have available). Ahh, one last thing... After you've joined my buyers list... there's one more thing you can do to help me find you a house. ASK ME WHAT YOU CAN DO TO HELP ME HELP YOU FIND A HOUSE! My success is your success! Remember, it never hurts to explore the possibilities!

With our unique talents it looks like we'd make a great team!!!!!!!!!!!!

My experience has been that finding a lead isn't hard. What's hard for me is wanting to talk to people. For some reason when I think of calling someone or getting back to them I just wanna do something else. For instance I only cold called about 10 people and got two decent prospects (and some NASTY sellers too). Also I found a guy who does acquisitions for a big rehab company who sends me leads for pretty houses they don't work with. Out of six of those leads one texted me back and called me back and left a voicemail after saying yes to considering rent to buy. To be honest the hard part for me isn't finding leads, it's handling them. I hate getting back to people, probably because I'm still so new and my business is so undeveloped that I have very little to bring to the table yet. I have to remind myself that I'm just collecting information for my teacher who's going to handle everything anyway, but so much of whether the deal happens or not rests on the first few minutes of talking. No matter how good my teacher is, I can easily screw things up before he ever talks to them. Granted it's true if someone's motivated it's much harder to screw things up, but I hate the feeling of offering someone something and dropping the ball because of my own incompetence. I think after I've built up my website a little bit and worked on my buyers lists I will be much happier to engage prospective sellers. When I get a lead calling back I feel like I'm under siege. I wish I could just press a pause button and get back to them later when I built my business stuff some more. The bad news is the leads can die off just as quickly as they come in. The good news is, for every lead that dies a new one is out there waiting.

What do you think of just being honest and saying you're always looking for properties to make available for rent to own, and sellers are much more likely to be interested in these terms when you have buyers in the area who are ready to go. "Help me help you find a house." I'm really really bad at not shooting straight. It's really hard for me to do. And the next thing I'm going to be doing soon is concentrating on building buyers lists in different areas. Why? Because when I talk to someone on the phone I want to say I have a bunch of buyers in their area just looking for a rent to own home to call their own. It's like the chicken and the egg. You tell the buyers you have properties they're more interested. You tell the seller you have tenant-buyers they're more interested. Have neither one, you're an asshole

I just thought of an idea. What if the house was offered for a higher purchase price, but with a 5+ year option period and lower rents? Might that be an attractive deal for someone who's credit is really shot to hell and will take longer to fix?

I knew I could count on you for the best financial tips and techniques

I look forward to seeing what happens with this. TBH even if I only walked away with $1,500 in my pocket that would be more than enough for my first deal, just because the stuff I could set up with that money would make handling the marketing/data much easier. Even with my database system I set up for free (took a few weeks to learn) there's only a limited amount of functionality I can get with that, and to really do some big numbers would take too much time micromanaging stuff. Plus I could also buy a pot to piss in

Hehe, I'm not surprised about this response. I noticed all the experts are very stern about making sure we don't do stupid things. I'm guessing you guys both have a lot of experience with this scenario with greedy sellers and newbies trying to pander to them. The only person who might be greedy in this scenario is me, and that's why I'm asking around. I might be greedy, but I am an intelligent man! (or so I like to think) The seller is realistic, and I told him that we might be able to get away with a little more price and rent, but ultimately we won't get anything done if prices are unrealistic, and he ain't trying to push for dream scenarios. Considering I checked all the recent solds and the for sales (competition) in a 1 mile radius, all of them in detail, and even google street viewed the house and the immediate area, I think my valuation is pretty accurate. Considering his valuation ended up matching mine, either he's a real sharp guy, or we're both idiots I also checked the local rental market for similar houses and I figured ~$1,400 market rent give or take, depending on how fancy the house is updated (or not updated). Owner said if he was going to be a landlord and take care of the pool, he would have charged $1,500. As far as I can tell the entire town or city has zero rent-to-owns, and the similar houses available for rent are almost non-existent, most of which are super expensive, like $1,800 to $2,200. One is only about $1,250 and seems comparable, but it's not rent-to-own. If I need to do a small 2.5% assignment fee and maybe even push the price down to do a deal, doesn't bother me, and I don't think it would bother the owner either. He doesn't give me the impression that he will argue with what the market tells us. He's free and clear so all the rent is profit minus the taxes. He literally can't be a landlord because he's got a lot of other stuff going on not related to real estate, and he's fine selling it quick or selling it slow (depending on when/if tenant-buyer/s exercise their option). What he's not fine with is continuing to bleed on taxes on a beautiful vacant house that turned out to be more than he could deal with. I also was under the impression that the house price for rent-to-own is ok to push up by 3-5% since tenant-buyers will be more concerned with the rental price and they will be not mind paying slightly above market for a hard to find opportunity in their area. But that's just my thoughts. Plus if the assignment fee pushes down what they're going to pay when they exercise, it might also look better. Assuming hypothetically my numbers are correct, in this situation what kind of number ranges would you say are realistic for getting a good amount of qualified potential tenant-buyers calling in to filter through?

What you shut off the machines? YOU CANT SHUT OFF THE MACHINES. Whoah, not sure where that came from. Anyway, hmm I wonder how that is worked. Let's do a slightly different example and say the owner's house is worth $238K tops retail. I'm a bit greedy and want a 5% assignment fee, but I don't know if I'll end up getting one, so what does a brotha do? Do I add 5% to the advertised price, coming out to ~$250k and if I don't end up getting the whole $11,900, I'll let the seller pocket the difference? And would that be pushing the price too high? By the way thank you for indulging me. I'm a slow learner. It took me 2 hours to work out the value of the house (I'm new to comping). Turned out me and the seller thought exactly the same on its value (pending photo verification of house updates).

Hey guys, new to the forum, and I know how important first impressions are so I thought I'd start with a really stupid question so you all know I'm a true professional. Let's say I wanna lease option a house from a seller for $218,000 purchase price and $1,400/month rent, and then I plan on assigning that contract to a tenant-buyer with for a $10,000 assignment fee. Does the $10,000 get applied to the purchase price, leaving the tenant-buyer with a $208,000 purchase price if they exercise their option, or does the $10,000 not affect the amount they would pay at all? Would I be advertising the house as having a $218,000 price or a $228,000 price?

I did not know you guys were fans of cam girls. Back on topic: chatroom broken