boazbama

For your course. Your course is a bargin. LOL http://www.wendypatton.com/store/products/...-options-course

Thomas.... I pretty sure Michael was only kidding about getting paid.

Hi Joe, Thanks so much for posting this it was greatly appreciated. I had one question. I see your getting your real estate license. Do you see having your license as a benefit in your Lease Purchase business? Thanks again for sharing your experience.

Hi Joe, I've read several of your post and I can tell your a big fan of Virutal assistance. Couple of questions if you don't mind sir. 1) Exactly how do you use VA in your Lease Purchase business? 2) Where did you find them and how much does it normally cost you? Any advise on VA would be greatly appreciated. Thanks Man !!!

If your business model is to mingle lease Purchase/CA with Real Estate Sales I think I would find a more of investor friendly real estate office. Just my opinion. It appears to me by your post that the broker is going to give you a hard time. We have Real Estate office here in Alabama that only charges a flat fee or desk fee. I would be looking into those type of real estate companies if it were me.

Doug, I'm talking to the Realtor because she has it listed in the MLS as lease Purchase home. I rather deal straight with the seller but the house under contract. That is why I'm dealing with the Realtor. Thanks for your help.

I found a home that is listed with a Realtor in a neigborhood that I want to live. I've got the seller to agree to lease purchase. So if you were to sturcture this deal for personal use how would you structure the transaction? I've already told the Realtor that a portion of the payment must go toward future down payment. Thanks in advance for you advice.

Jason, Thanks for the info.

Jason, Would you be kind and explain how you set the Mozilla up so you can search with one click? Thats a great idea. Thanks, Hugh

Hey JR, NO! This isn't a "new" twist, just one that's not widely known. However, it is known as Equity Sharing! There are a couple of variations to this program. But here's the jist of how it works in general. The potential T/B selects the home that he would like to purchase. And, with the amount of the choice on the market at the moment and at such drastic price reductions, this is a huge opportunity for them to get into the market, especially of the home of THEIR choice! The investor puts up the downpayment on that house. The T/B pays the mortgage (or portion of) until it is time to sell the property, say in 3, 5, 7 years . All of these contingencies are decided upfront. When it comes time to sell the house, the T/B and the investor share in the profits. However, the T/B can also buy out the investor instead of selling outright if he wishes too. He just has to make sure that the investor gets his profits in his pocket. It's a win/win situation as the investor only has to put down say 5% instead of the typical 25 / 35% downpayment requirement for a rental property. This is a great way for the investor to accumulate wealth with using as little money as possible as he's able to buy many, many more properties by leveraging this method. This is also a great avenue for a T/B to get into the home of his/her dreams with nothing down! Hope this helped to explain what it is and how it works. Good luck! WCG WCG, I've heard Equity Sharing with the seller before but not with the T/B. The investor put down downpayment. Does the owner own the property free and clear? Is the investor going out and getting a loan? Does the loan stay in the sellers name until investor/T/B cashes the seller out? Sorry, just not clear on that part. Thanks for sharing.

BJ, Just a suggestion. But why don't you use the seach function on this website and put in Option, Options, Pure Option or Straight Option and you should have several days of reading. The Pure Option has been covered in great lenght over the years and you can still find them in the archives. Plus its FREE. FYI I just put in Pure Option in the search function and got over 20 pages pertaining to Pure Option. Hope this helps.

Brad, What is in it for me? Thats what I would ask myself. Appears the owner is calling all the shots. She wants $10,000 option money and also wants the price to be determined 60 days before the term runs out. Sounds like to me its alot better deal for the owner that you. One of the great benefits of lease option is able to lock in the price now and hope for a larger payday down the road. Doesn't sound like a motivated seller to me.

Rich, I believe if you go to the Lease Purchase forum under pinned topic. You will find about 30 pages explaining what you just asked. Plus if you will go to the seach function and type in Pure option and you will get about month worth of reading on just that topic. This topic being asked alot over the past couple of months. I believe if you will do just those two things I believe that will clear things up for you. Hope this helps.

The best book I found is Barron's Real estate guide book. It normally sells about $10.00. It has more that 2000 real estate terms covering alot of real estate topics form financing, architecture, brokerage laws, real estate topis, appraisals and investments etc. It also has lots of charts and tables. Just checked amazon.com and you can buy this book used for $3.00. Its called Dictionary of Real Estate Terms from Barrons. Hope this helps.

I would first find out the answer these questions first before I would proceed. What is the house worth today? What is the comps in the neigbhorhood saying. Not from and old appraisal. Does the house need any repairs? If so, how much? Then I would ask the owner if he would be willing to sell the home for what he owes? Tell the owner because of the back taxes and back payments that you will have to bring current that the most you could pay would be for what he owes. Then I would see if he is willing to pass or play.