Sold !

Bev, You need a Friendly Real Estate salesperson as a "comps-meister." This person needs to have a stake in the deal, meaning if you call for comps and do a deal, they get a piece of the pie. I am in my start-up phase of L/O right now and that's the first thing I have done.....I have 3 realtor friends, all of whom have agreed to help me out with comps when needed for a little piece of the deals. I have a mortgage guy, too, who will be helping anyway he can for the eventual business when the client is ready to go. Remember, there is no "I" in T-E-A-M Sold !

James, FOCUS. Determine what YOU are after and then start contacting people with that in mind. But...........Listen to them and find out what pushes their buttons. Have more than one solution in your pocket......if SL doesn't sound like what they want, go CA. And vice verse. It's important to have an arsenal or stuff ready to be pulled out when needed. sold !

It sure is ! It's as great as the Fear of Failure. To defeat them all, just plough forward and make things happen. You'll either succeed or fail if you try, GUARANTEED ! But, if you don't try......you already HAVE failed. sold !

Well, if it gets them to choose....GREAT ! If it gets them to start thinking that hard that they like one from Column A and one from Column B, then AT LEAST they are thinking AND might make time for a counter offer. If we can create a win-win from it all, then we still WIN ! Sold !

In speaking with the seller right up front, ask him, "Mr. Seller, what would your property be appraised at today?" Then, "How did you come up with that number?" If they say, "That's what the tax appriasal is," this guy could be an excellent prospect because most tax appraisals are low. If he says, "Because that's how much I've got in it", this means nothing at all unless you are in a rapidly appreciating market, like South Florida (MC). Then, it could be a goldmine. Valid questions? Sold !

"......and how quickly did you want to sell your home? You wanna race?" "They don't call me Sold ! for nothin'............" Sold !

Uh-Oh ! I have 3 friends (2 realtors and 1 mortgage guy) who I called this week in my first attempt at getting started in this business, and briefly explained what I am doing and that I'd like to meet with them. THEY ALL ACCEPTED THE OFFER and were VERY intrigued ! Now, I am kinda nervous about what to tell them. What advantage would each of them have in sending ME possible sellers and/or T/B's? They all have their own agendas, obviously. But, what gain (aside from a nice referral fee) does each of them stand to gain from letting me do L/O's with their sellers/non-qualifed clients, etc)? sold !

How? sold!

It's all about negotiation. If the seller wants some of the option money, you can offer to split it with him if he agrees to split the monthly cash flow, too. Always ask for more than you really want and more than you think you can get. If they try to talk you down, you are in a great position to make him feel like he won, but in reality, you are just letting him get you closer to the number you are really seeking. Sold !

Maybe this one will win me a FREE manual........ If you have some cash investor partners, or can find some, why can't we simply structure 3-4 offers and let the seller choose the best one for him? Offer A: Give the seller his asking price with the seller carrying ALL the financing, as long as the seller's asking price isn't ABOVE market value. OFFER B: Offer A minus 15% minus any cash required by the seller. Seller carries the rest of the financing. OFFER C: CASH. Your Offer = Comps minus 30% of the Comps minus cost of repairs. OFFER D: Your structured L/O offer Now you let them choose the best one that works for them ! Of course, the details of each offer are missing, but this could be the basis for winning them all. Something for everybody. All you need to do is find the cash partners, OR if they choose A, B, OR C, write a Pure Option, then hit the streets and your local REI club and assign it or work a deal with a cash investor. If they choose Offer D, you just have to do what you do best ! WRITE YOUR LEASE/OPTION DEAL ! Sold !

Can you post pics of your business cards to give an idea of how simple or detailed they need to be? How much detail about what we do actually is effective on the cards? What kids of details do you need to put on these little marketing gems? Sold!

Where do you guys find info on comparable sales? Is there a website that keeps up to date and accurate? Do you bother a realtor every deal? What's everybody's favorite and most effective method here? Thanks, Sold !

Just getting started. What are the first things we need to know from the seller once they agree to listen to us regarding L/O of their proerty? I did some searches, but didn't score with this topic, so I'm being redundant, probably. Thanks, Sold !

I, too, am just getting geared up to begin my L/O business. From all I have read here on the boards in various threads, is it safe to assume that the BEST way (in your opinion) to get started would be through working hard on CA's? It seems less risky, you can bang them out and move on quicker and not worry about money headaches and tenants until you have some $$$ built up....working capital, if you will. Am I right? Am I getting warmer ? Sold !

The reason I ask is because most mortgages I have run into have a clause in there that reads something like this In the mortgage you promise to "...occupy, establish, and use the Property as Borrower's principal residence within sixty days after execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy..." The lender is prohibited from "unreasonably withholding" permission to not occupy during that period and "extenuating circumstances beyond Borrower's control" are an exception to the occupancy promise. In the absence of lender unreasonableness or extenuating circumstances, you may not do any kind of lease until you have lived in the property for a full year. If you habitually buy properties and immediately lease-option them, you will not be very credible arguing extenuating circumstances. But, I am wondering, also, if we "lease" someone's property and then "sub-lease" it to a T/B..........how does all this fall into place? Sold !

Hi from the new guy ! Just getting started in the Lease to Purchase biz and was wondering if any of the forms, documents, agreements, sales we produce, etc would trigger the due on sale clause and how that might affect me or the seller or the TB. Thanks in advance ! Sold !