megabucks41

Happy -B -day Bro been wondering where you been lately now I see best wishes

First make sure you understand the process of L/P SL/O and P/O then if you want the company of lawyers get into prepaid legal, need more friends in the real estate world join a real estate club in your area, and while this is a going on just start making calls and getting deals after a while you'll get to know enough people from all areas of real estate. But like nike says just do it ake the leap. Best of luck

After careful thought, When folks like Amway, Marry Kae, etc. they don't ask their assicates where they are going to have there conventions they just do and the one that want to come go and the rest don't get the info. So I figure why not have it down in Sunny Fl. where people can enjoy the bch and the night life it has to offer. So this could be like a min vacation, after all it's only for the weekend. I looking to bump up from march to somewhere around Oct. like the first week or the middle. hopefuly we can get over 30 people the more the less cost. Check in could be on a Friday into the Hotel have a briff get to know each other 7:30pm to 9:00pm Sat start our meeting at 10:00am until 12:00pm then break for lunch till 1:30pm get everyone seated go through 6:00pm and then break for Dinner come back at 7:30pm and close out the show at 10:00pm I don't have experince putting together meetings So if anyone has better ideas it would be great if you let us know as for our spearkers I believe that our main guest should be the person that has taught us or some of us the business of Lease/Purchase M.C. next on the list would be Adam for the knowledge in the field of REI, Then Rexford and Elmer since they work together in the same field that stirred up boards with his way of doing pure options. All input on this idea is welcome any way on how to put this event together would be most helpful. And of course would the speakers want to give of thire time to come and speak to us as if it were the boards.

is that corn bread or what? You know cajun style. Thank you and have a great thanksgiven. I would say enjoy the day off but you have been free of that So just enjoy.

That is a good idea. We do this around where the property is located. We take a reular 8x11 sheet of paper and using a printshop software I split the paper in half and design a flyer on half the paper and copied the same flyer on the other half so when I go to print I have twice the amount. Then I do the same on the back side of the flyer I make sure that everything is aligned correctly then I go to Office Depot or Office Max and get 1000 copies for a few bucks and then I have twice as many flyers. These are great for car windows, door hangers, etc.

I don't know about the front door, but I have put flyers on car windows that are in the complex where the property was located, and around the malls and mini malls. Still, the best results have come from bandit signs. We put out so many, that the code enforcement officers were after me. So be careful! Best of luck. By the way, where in FL are you located?

Harbor Sales 800- 345 1712 This is the cheapest place to buy signs. We have tried pre-printed but they cost too much money and it makes you look like a business or an Agent, depending on what the sign says. May seem like a savvy real estate investor, snobbish, and who wants to deal with them? Best result we seen is hand written with different colors if you are using white signs. Usually we place about 30 signs per property, so keeping the cost down is important. Best of luck.

Darn that sounds good what a dream!

My first question is for those investors in FL that are doing auctions, can you help? First do we need a licensed auctioneer when selling a property via auction? Second what would be the cost ball park figure for a licensed auctioneer? All they would have to do is auction the property. We'll do the rest of the stuff like marketing and such. Thank you for you help.

Has anyone closed a CA, Pure Option, or any other deal during the holidays? Please don't tell me, " Yeah, Miracle on 34th Street".

Yes you are right I had some luck in the past with craigslist both for sellers and with buyers. I have also found sellers in owners.com but for sure buyers have called me in the past from craigslist and yes I did some them to the property first which was what cause me to book the meeting but hey they didn't show I just hate to give up so I going to market again see what happens. What the worst that can happen the police calls me again. I just hate to give up darn it. I have o find a way to move this home.

No we have access to the property but for about three weeks there we couldn't get in because they were working on the roof and the seller is a great person she understands and has not rushed us in anyway but time is ticking and she has to make that double payment each month at one time she wanted to compete with us as to finding a tenant but she has given up trying so all she has left is us which is a good thing for us. Now our problem is we can't move this place. marketing done to date. flyer mag. 25 calls booked three showing they never showed bandit signs 25 placed 10 calls the tenth call was the city one person wanted to see the place to small flyer 200 inside the complex on cars 3 calls stop doing this flyers 400 in min malls food store home depot 20 calls 4 people were interesd made three appointments none showed up Bandit signs and flyers has been done three different times on the same weekend and we are getting more people jerking me around then ever before the numbers for this property are very good if they can't afford a monthly rent of about 1600 to 1500 and I say this because I am going to lower the rent again to 1500 when they get a mortgage they are not going to afford it as far as the price is concerned we're selling at 324 the comps in the area is for about 300K to 375K Anyhow I am spending to much money on advertising and this darn place is not moving. And MC. like you said in other post we're getting sellers calling us to see if we can help them sell their homes. But alot don't want CA and I am considering doing pure option like rex has said but don't know untested water, guess I am going to have to leap like I did with the CA.

Man, aside from calling a press conference, I have done everything I could possiblely do to move this property under CA the first part of the hold up was the seller fixing the roof once that was fix we still have not been able to show the place but to 2 people in almost four months. We have checked the prices and have found out that the price is very fair in this area. I want to keep trying to move this property but at the same time I feel I am just spending time and money. And I hate to quit on anything I am a frim beliver of quiters never win and winners never ever quit. Also the sellers is just at her last stop she has been trying to compete with us and I have had better result and even that was great.

May all your wishes be granted. Happy b-day.

I hope some other newbees are reading this, because this answer is on the money. I sure do comprende my friend, and like I said business will be conducted as was taught to me by you. Without question. Once again, thank you.

This is why you are without a shadow of a doubt the man in this field, Thank you so much for clearing that up once and for all. We should consider going on the new TV show about guru investors show newbee how to invest in real estate. You will go on as the guru who's already been through it all and of cuorse I will go as the stupid stuburn creative minded newbee you are going to teach. I think we could make a killing plus the sales of your manual. let me know. Once again thank you much.

Before I begin with my question, I would like to apologize to M.C., Adam, Rex, ED and all the rest of the cast that has helped us get to where we are at the moment. I mean no disrespect and I am not trying to reinvent the wheel. I am a newbee and conpare with you guys I will always be a newbee. I am curious though about the question I am about to ask. Oh and no I don't have to much time on my hands, I just finshed marketing this new deal. Anyway here it goes. market conditions in the area for T-homes are $300K to $450K seller was asking $340K but with market conditions they way they are we brought him down to $315K rent to be paid is $1,600 a month with 50% rent credit which = $9,600. Now our price to our T/B $334K from this we subtracted the T/B option fee which = $7k Now when our T/B goes to close with the seller, T/B will have to get financing for $317,400 because the rent credits was brought to the closing table as downpayment money. Now I can see how rent money is really working The regular way it works also. I just don't really see the money I just see a discounted price. And at the end of the day T/B will still have to search for more money for a downpayment. Now with the twist the downpayment money is already there at the table and I think that with $9,600 you could get financing from most lenders. Now the only objection I see is that the seller wont want to have to save or deal with the saving of the rent credit but either way the seller still has to keep a record of how many months the T/B has paid on time. Like I said before you guys are the pro's , which is why I am asking if there is any thing wrong, or if it could even be done this way. Once again thank you for all your help.

Wo, wo This is Dad MC and you are right and I have already answered the post Erik was in question of I guess he let a seller get in his head about what it is we do. and the benefits. My son's feeling is that if you get into a rent to own situtation and you place $5K as option fee you won't have enough for a down payment during the option period so when it comes time to buy what are they to do. Yes this is not our problem we're out the picture, but what about the poor T/B they might not be able to buy their home. So my answer to him was that's why we ask questions as to how much money they have and what we are asking for. once we know the true answer. We could arranage the money to work out for the best.

Hey i was wondering, The Board has been so quiet lately did everyone get 9-to-5's... C.R.E.A.M

Question: How do lease options work and what are the benefits? Answer: A lease option is an arrangement with you and a seller to exercise the option to buy a house after you have rented it for a specific period. A portion of your rent would applied toward the purchase if the option is exercised. This is referred to as rent credit, which most institutional lenders will accept as part of the down payment if rental payments exceed the market rent and if a valid lease-purchase agreement is in effect, a copy of which must be attached to the loan application. If you are a seller, lease options can give you several advantages, especially in a slow market. These include a monthly rent higher than market rent, top-market value for the property and tax-free use of the option consideration until the option expires or is exercised. Also, the renter is more likely to treat the property like an owner, tax-free use of option consideration until the option expires or is exercised. Read any lease-option arrangement carefully for details on transferring the option and other important concerns. For more information, get a copy of "How Lease- Options Benefit Realty Buyers, Sellers, Agents and Investors," available for $4 from Tribune Media Services, 64 E. Concord St., Orlando, FL 32801. Copyright © 2005 Inman News Features All Rights Reserved

I really dont see how this is a good deal, if they have to come up with a down payment at closing. On top of that you have closing costs. Am i missing something because im putting myself in their shoes and i dont see a win. When my Father bought his first home, he walked in with 3Grand and 100% financing im guessing closing cost was included in the financing because he didn't pay a penny for that. This has me some what confused please help me here because i really dont see whats the excitement for a t/b. Thanks MC i appreciate for answering all my Questions! C.R.E.A.M P.S. Agian Using my das PC i forgot my password

Its Cream Dad is @work So im using his PC My Client Sent me a Email Stating this, i would ask my Father but he is at the port..Busting his ass And if i ask him this he would probally kick my butt for not knowing. I need a quick response, this is a juicy one!! (Client) A option fee does apply to the purchase, and should be paid to the property owner by the person (A) entering into the contract as consideration for granting the option . that person (A) could then assign the contract to another party (. the new party ( could pay to (A) more or less than the option fee. If ( were to pay more than the option fee, (A) would have a profit. Only the original option amount would apply towards the purchase price because it is part of the contracts. For you to work for an assignment fee in excess of the option fee is understandable, and would not be an issue. To say you work for the option fee which becomes the assignment fee means you would not make anything on the deal. If the option fee was 5k and you assigned the deal for 5k, you would make nothing, as you would have had to pay the 5k to me to make the contract valid. the only way you would make anything is if 1) you did not actually pay the option fee to me, in which case the contracts would not be valid, or 2) i gave you back the option fee, which might be considered a commission and would by a violation, as you are not a licensed realtor. Your son said the agreements were drafted by an attorney, please explain how your scenario is not a violation ? Thanks Guys C.R.E.A.M

We have to DODGE the cops first CREAM

What kind of marketing are you doing to get a result like that?

Adam, I feel Ya Bro, which is why at times I don't write on the board. If I don't have anything postitve to write or a question I need help with, I bascally just study the board, but I always read the board no matter what's going on. This market we're in is really tough down in South Florida. Ain't no one moving on anything. But why bitch about it? It is what it is: just part of the game. So like I said, I feel ya Bro. Prehaps we are in need of a group hug? Ok folks, huddle up and gather around. Lol