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Alan (NYC)

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About Alan (NYC)

  • Rank
    CA Your Way to $$

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  • Website URL
    http://www.concretepros.com
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Profile Information

  • Location
    Long Island, New York
  • Interests
    My wife, my boys, my one little girl and my dog.
  1. Mike backs up his book by actually helping you go out and make the deals that put real money in your pocket. His personal attention to questions both on the forum and directly to him are professional, quick and above all, provide the ability for you to take your business to the next step.
  2. Remember, the seller is not renting his home. He is selling it. Lease/Purchase IS a form of selling. The option consideration is non-refundable for the following reasons.... The seller is willing to wait and cash out on his property in a year or two, depending on the terms of the L/O, however he is permitting the tenant/buyer to move into the home now! He is giving the tentant/buyer time to clear up any blemishes he has on his credit and time to work with a mortgage specialist to obtain the best financing possible. If the tenant/buyer elects not to buy the property, the option consideration is non-refundable because the deal was set up as a purchase, not a rental. The seller is allowing the tenant/buyer the ability to get out of the rent cycle and into home ownership much easier than through a conventional bank loan. If the tenant/buyer's intention is not purchasing the home from the beginning, he should continue to rent until he's ready. Alan
  3. Steve, That's a great idea if you are looking to market (or farm) a specific neighborhood or small target area. The same idea could apply to other holidays as well. Especially Xmas and Valantines day. Two holidays before the big home selling season begins. Thanks for the good idea.
  4. Doug, I think any type of effort in reaching homeowners and telling your story is a positive thing. Some forms of prospecting are more efficient than others, but you never know what might work at any given time. A face to face introduction to who you are and what you do is time consuming, but I bet it could be extremely lucrative also. If you come across as a professional and answer a need the home owner has, he (she) will remember you....and a good chance you may get a call back from the personal attention you provided. Personally, I never tried this approach, however I do think it can be a lucrative method of prospecting.
  5. Steve, I agree with you. I absolutely do not send contracts unless it is a long distance deal. I am not looking to be used only to find out I put someone else in the L/O business. I do tend to think the best of people, and expect them to honor our relationship. We all know in all cases it never works that way, however I do look for an element of trust when sending out our forms in the past. I think Bev's method solves the problem in all cases.
  6. Hi Bev, That's a great idea also. Send them a generic contract not quite right for the type of deal you are trying to put together..... I feel that contracts are not enough to get into the L/O business. As we all know you need to be knowledgable on presentation. You need to know how to craft the deal properly. You need to market the property effectively. Contracts are useless unless you know what you are doing. I do agree there are times contracts must be sent, now I have two ways in which to send them. Thanks!
  7. Here is a good idea when sending out contracts to potential customers. I took a blank document in word, used Ariel font, font size 48, used a light gray color and centered the following word; SAMPLE 4 times on the page. I then printed out the page, and placed the document back into the printer. I then printed out all the contracts onto the sample pages. If the seller is inclined to use my contracts for his own purposes, he will now need to re-type out each and every page to accomplish his goal. I haven't heard this idea posted before and may be something that we all can use.
  8. Hi Glenn, Tell him to play the lottery. If he wins, you'll split it with him.....
  9. JR, Sorry I got em all! Its a big, big city. Plenty of deals, you just need to find them. Good luck to you.
  10. My full basic cold calling pitch is as follows...... I saw your ad in _________ and was wondering if you'd be interested in selling your property on a rent with option to buy? That’s when a buyer makes a guaranteed monthly payment to you every month, one that covers your monthly mortgage, taxes and Insurance, and then at some point down the road, usually one year, cashes you out of the property at full market price. I am not an agent or broker. I’m an investor and I have more buyers than nice properties to place them in. If interested, I can plug in your numbers to see if it makes sense. In most cases, I can get a buyer in your home in 30 days or less, with all commissions or fees paid by the buyer, not you the seller. It fits my personality and flows for me when I talk with prospects. Make sure you don't take too long explaining the benefits. Short and to the point is always best. Good luck!
  11. Some brokers, when they get past the fact that there are other ways to move properties, actually listen without the know it all mentality. The smarter ones, who are open-minded, usually are receptive to fresh ideas. However, many of them have a certain way of running their business and no matter what good ideas you may bring to the table, it won't fly.
  12. JC, Homes that are not moving and are coming towards expiration with the realtor can be your target market. Rather than possibly lose the listing to another realtor, explain the benefits of a CA and offer to split the upfront option consideration with the realtor. Homeowners that haven't sold their homes may be more open and motivated to creative ideas to move their properties. CA's can be ideal for these homeowners. I would suggest setting appointments with broker/owners, not sales people. The managing broker will always have the last word in their respective offices. I think most of them will be open minded if presented properly. In addition, if they approve the idea, their whole sales force is open to our strategies.
  13. Here's your quick short pitch.....works for me! I saw your ad in ________________ and was wondering if you'd be interested in selling your property on a lease purchase? (Then without pausing I give the definition below) That’s when a buyer makes a guaranteed monthly payment to you every month, one that covers your monthly mortgage, taxes and Insurance, and then at some point down the road, usually one year, cashes you out of the property at full market price.
  14. Glenn, Find out..... 1) How much does the owner need to get him out of foreclosure and bring him up to date with the bank? In other words, what does he owe the bank? 2) What are current rental rates in the area, specifically for his property? I think I can develop a gameplan that will get him out of foreclosure and allow him to cash out of his property above what he owes the bank. There is an answer for the homeowner, and probably a good one. Tell the owner, you will get back to him after you get the above info. Alan
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