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scntaxpro

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About scntaxpro

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  1. So I don't have to tell the homeowner what my plans are if I plan on doing a sandwich lease?
  2. ok. that makes a lot of sense. I was thinking that the purchase price doesn't go down but the rent credit applies to the down payment. if it applies 100% to the purchase price then i can see how it would be feasible to do. thanks for your reply.
  3. I was having a conversation with my father about lease purchasing and he told me that it was illegal to offer 100% rent credits. is that true? He said lenders will not recognize the equity created by 100% rent credits. have you ever heard of this before?
  4. I talked to an out of state landlord who is motivated to get rid of her house. I asked her if she was willing to do a lease purchase and she said 'absolutely'. I did not tell her that if we made a deal that I would go out and try to find a tenant buyer. My question is when do I tell her that is my intention? Before or after we negotiate the deal?
  5. what if it isn't a CA? what if i sign a Lease with an option to buy with the following terms: Purchase price: $150k Rent: $1,500 Term: 24 months assuming the lease is assignable i can then go find whoever i want to assign it to can't I?
  6. If the question comes up, and it rarely does, you need to be honest. Tell the homeowner you're relatively new at this, but are motivated to prove your worth and that they are in control of who moves into their house, etc. This ought to calm all but the most nervous of homeowners. Michael, thanks for the quick response and thanks especially for the manual. it was a quick read and was very practical. I do have one other question in response to your answer above. You said to tell the homeowner that they are in control of who moves into their house. I thought that the point was to have a lease purchase that was assignable. If that's the case then I can assign it to whomever I want without the permission of the homeowner. So they would not be in control of who moves into their house. Am i missing something?
  7. So i ordered the manual and have finished reading every page. I now have a few questions. 1. How important is it to have a website for this type of business? 2. Do I need to set up an LLC before i represent myself as an owner of a property management company?> 3. Why do you have to apply the option money towards the purchase price of the home? 4. What do i tell a potential customer when they ask me how much experience i have at this or if they ask to talk to prior customers?
  8. can you email me the website that was posted in the email? scnorton@gmail.com
  9. This is an AWESOME thread!! i do have one question. When you make your offers to the bank, do you tell them that you will pay all cash? or do you tell them you will need funds from private investor?
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