burt13

To all, I have not been posting for a while just changed Jobs and the other half is due anytime with the "Little Fella". Anyway back to the post. The flyer that I sent to the vacant home was returned to me with what appears to be the owners address on it. Iam not sure if the forwarding service has expired, probably has because the home has been vacant for a good while. Iam going to send my flyer to this address and see if I can get any response from it. I have been a little lax in my efforts due to the "Chaos" that is going on at the moment. I will be back with an update shortly. Thanks Burt13

I know that i should have an attorney review my contracts. The thing is though money is a issue at the moment and I did speak with an attorney who said he can review and redline up for $75 a document. Is this price fairly typical. Any one here from the state of Maryland and has used MC documents. Did you have to make any changes/additions. Any help would be appreciated. This is one of the things that is holding me back, Id donot want to use something that is going to come at bite me in the Behind. Thanks for your advice so far. In response to my question regarding LP and the wife she likes it all by the straight and narrow and its like some of you said she has not read up on LP's. I get her to try and read them but she resists. Thanks Burt13

Iam having a difficult time getting my wife onboard with the L/O method of purchasing properties. She ask me why do you want to do it this way, you have enough knowledge to just buy a home. I keep telling her yes I can easily go out a buy a home tomorrow if I wanted. She has this thought transfixed in her head. That someone will come to the door(burly type of chap) saying your husband owes us mooney we want it back. When I mention Hard money lenders, she thinks of th "Sopranos". Any way I was woundering if any of you had advice for getting a reluctant spouse onboard with CRE. Thanks Burt13

The vacant house that I have described in previous posts, now has another realtor sign displayed. This is the third realtor firm selling this property. Option 8 has described sending mail with "address correction requested". What is this and how does it work, Do I just go to the post office and ask for this or do I send it to the old address with this on the front aswell? Thanks All Burt13

To all, Previously I had posted about a vacant home, I sent a L/P brochure with my info to the property, as I have not heard back from them I was looking to contact the owner. I have looked up the tax assesment and found out their names but the address is of the subject property. How can I go about locating the owner? I have tried a search on the white pages with no luck. Can any one help/advice. Regards Burt13

Hi all, Does any one know/recommend a broker in MD that is CRE friendly and can assist with tennant buyers obtaining financing and counseling them on improving their credit. Thanks Burt13

Ok, I Drove past the house today and posted the brochure to this address, hopefully there is a forwarding address or the owner will come by and collect mail. I left my 24hr number plus my cell on the brochure, so if he calls me back at least he has some interest in the L/P idea. Another thing with the rent to own ad in the paper I have recieved another 15 voice messages. I have listened to them and have come up with a number of them that I will call back for some further info and tell them they will be put on file and when a property comes available that meets their needs I will contact them. I was able to locate the property on the internet, it is still listed with a realtor, although I think it may of expired unless it has been renewed. The price they are asking is $225,000. I have picked up some comps in the aera. These have sold for approx. $200,000. I think due to the size of the lot etc it is to high a price. Thanks Burt13

There is a home near where I live that has been listed with 2 differenrt realtors and has not sold. The only bad thing I can see from the outside is that it is a corner plot with a very small backyard. I am going to put a L/P brochure in the mail and send it to the owner and see if I get any feed back. My question is how would you structure a L/P with an owner who has a lot of equity in the property or may even own it outright. The house has been vacant now for 6 months plus. Thanks Burt13

When getting a tennant/buyer to fill out a credit report application - how much should you charge for this? I have heard it costs $30 but on another landlording site they indicate they can get them for $10 dollars - Is correct? Thanks Burt13

If the board is ok with this I would like to chronicle my begining journey into the lease purchase arena. Apart from my journal I will have questions that I will need help with on the journey. I feel if I have to account for myself in a journal it will keep me focused. All that being said this what I have completed over the last week. This weekend I put an ad in the local real estate section of the paper. I had also set up a 800 number. This morning when I called my voicemail I had 25 messages from various people looking for rent to own properties, these were the ones that left messages, the system captured a total of 109 calls for my ad. I did not expect so many calls. This week Iam going to run a seller ad and see what responses I get. I have a lease purchase brochure and postcards which I am going to mail out, to FSBO's that I pass that appear not to be selling. Questions: 1. I have lease and option agreements, should I run these past an attorney and how much would this usually cost? 2. I know when selling a property the owner has to provide a lead disclosure from. How is this handled with the L/P agreement? 3. Apart from the newspaper and the web for FSBO's how do most track down the motivated seller? 4. Do you use the same lease agreement with the seller as you do with your tennant buyer or are these different agreements? I would like to thank the board in advance for any responses and suggestions as I begin this journey. Regards Burt13

Wanted to say hello and join this informative forum detailing the lease purchase method of controlling properties, do you have any advice for a newbie in this niche. Any info is appreciated. Thanks in advance. Burt13