DrRE
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Posts posted by DrRE
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Last August I did a CA.
T/B is 2 weeks past getting a mortgage. Won't pay anymore.
I triple check everything I do but for some reason there is no signed lease signed by T/B.
Everything else has been signed.
Seller wants to evict, says they need the signed copy.
Whats a Herbster to do? I figured there are enough signed papers that would indicate there must have been a lease.
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I agree with Equity Notes as I have read and listed to Eddie also. It seems as though investors wanting to seller finance properties either have to be licensed to do so or work with a mortgage broker. Thats a big blow to that exit strategy. Another issue I have is that my 2 M brokers I work with don't know anything about it. Herbster
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I sure do like the humor over here. Herbster
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Lately I've had a rash of sellers that want my services but they refuse to sign anything. Of course I explain why I need their signature, this even applies to a non-exclusive agreement. Thanks, Herb
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In my opinion they are different but I personally consider them the same for one simple reason, how can you force someone to purchase? You can't, you could sew I guess but still have an unsold property. Just think about it, in todays economy someone might lose their job and not be able to purchase. Herbster
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Two weeks and two replys but no business. Honestly I haven't tried very hard. Show my new Lake property(LO) tomorrow and picked up a great country ranch on a straight option. Seems as though I get more out of staters and 6 month replys. Herbster
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Hi, Does anyone have a quick link to these? I need to read them again and its been difficult for me find. Thanks, Herbster
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Randian, My local market is probably smaller than yours. There is usually a 1 - 1&1/2 page list every day. I renew my posts in the mid to late afternoon so its upfront. If I deside to see it every day I use 2 accounts(emails). I'm tempted to post twice a day with a different heading "Can't Sell yur Home, No commissions"
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I put it right where people look, in homes for sale. I figure everyone else is posting things there that don't belong so why can't I. Did it this afternoon, if it works I'll share how well. Herbster
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Thanks Jason, Actually I ve had good luck with the backwards email thing and yes it was from WP, I took it off her facebook post.
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Since craigslist ads in my area are getting away with murder, I thought it was my turn. Here's my post:
Heading: Can't sell your home, may want to Rent?
Post body:
We could be a perfect match.
I'm looking for Lease Option or Rent to Own homes and buyers for.
No Realtor commissions, we are not Realtors.
Contact Herb @xxx-xxx-xxxx
Please just a few questions:
- Where is your home located?
- How much are you asking for your home?
- How much would you rent it for?
- How many bedrooms and bathrooms does it have?
Email reply to moc.liamg@XXXXXXX email is backwards to prevent spammers.
Thank You, Herb xxx-xxx-xxxx
OK blow it apart, I borrowed something similar from a LO lady guru.
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In my area all the major Lenders require 1-2 years seasoning before the rent would be considered. The only exception was my local credit union which required none. This information I got from 2 Mortgage Brokers, visiting Banks and such. It put a big hurt in my business. Herbster
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Shouldn't be an issue, Herb. Contact the title company or attorney who is handling the close and present your option. If they are honest and legit, you should be covered. If not, contact an attorney and have him or her get in some faces.Well the deal went through Michael but I got had slightly. Made 3k which should have been 5K. Since, I've alleviated this from ever happening again. I now have a form (that I will make sellers sign) stating my required profit and that its at my sole disgression if I choose to take less. No signature, No worky for you. I was an oreo between 2 Realtors on this one. The outcome was sufficiant, hell I had it sold in 1 week. herbster
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YOU GUYS he he he. I haven't had much luck with FRBO's myself but when I do look for them I weed out the management co's and realtors by using SearchTempest, the old craigslisthelper. Herbster
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Here we go group. A SLO and CA webinar from Wendy.
https://www2.gotomeeting.com/register/850770578
I think its free.
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I can't believe she'll get $500 for something so simple. It must be 99% fluff. Herbster
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So Wendy has jumped on the band wagon and Joe's a part of this. $500 what a joke, her Sub2 course was only about $300. I believe she's read about this on other forums and sometimes my posts. Anyway Michael I have steered at least 20 people in your direction over the last 2 years. On another note you answer your forum every day and Wendy's was killed by spammers, no competition there. Herbster
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I feel like idoit just to post this but I need some opinions. I have an Option to Purchase on a property. I guess I was sleeping on this and I totally forgot to get a Memo. Now the house is sold(my sale) and I have nothing to cloud the Title. Should I bring my Option agreement to the title/closing company? My seller says they will pay me but I want to make sure. I can't beleive I did this. Seller will not give me a Memo. now. Thanks, Herbster
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Yes I fill out the details later for whatever option is used. I use Michaels and anothers material and out of respect for Michael I won't devolge who's on this forum. Herbster
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I've been using what some call a Flex Option, then I find a buyer for LP, Land Contract, or a Conventional Mortgage. I use whatever is approved by the seller, then assign or release my option. Herbster
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With the thousands of people following Michael's program and only one John Reed, you figure it out. Herbster
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I'm not even going to read the link. Take this guy with a grain of salt. He's very opinionated and eventually will steer you towards one of his books. Right here is the best place to learn Lease Options. Herbster
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Rosanna, Would this be a rural property? outside of a major city limits. If so they should be able to get a USDA RD loan which requires no downpayment. Herbster
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Hi JJ, That reminds me of when I was a super newb on another site. When CA was posted I automatically thought that meant California and did't interest me so I never read them. Darn glad I have it figured out now. Herbster
HELP- did a CA 1yr and 2 wks ago
in Lease Purchasing
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Michael, I'm in MI. and I have sent again the landlord tenant laws to the sellers in Utah. Something is terribly wrong here, I think I lost some papers. I will expand my search. Steve I agree and there may not be a problem, I'm watching the place, they may have left. Thanks, Herbster