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Found 5 results

  1. Happy New Year Naked Investors Colleagues. I have a client who is interested in a lease purchase in Indianapolis. Now that the Dodd-Frank legislation is upon us, I would like ot secure the services of A Registered Mortgage Loan Originator. Please help! I would also like to contact a Real Estate Agent in Indianapolis who will work with me, for a fee, on a lease purchase agreement. Time is of the essence. Thank you!
  2. Hi All, I do "virtual" lease option flips in a few different cities/states. The one big challenge has been finding local agents to market for tenant buyers & show the properties for me. I started out offering them the equivalent of 1 months rent per tenant buyer placed. I even increased that amount thinking they were lazy because the money amount wasn't motivating enough. In terms of "lazy", what I mean is, these agents would barely lift a finger to market the properties (online or to any buyers that were just turned down for a loan). All of which I told them how & where to market for tenant buyers. I even got to the point where I was doing the marketing so all they had to do was show up & show the property & collect the tenant apps. I kid you not, they wouldn't even do that! Mind you, this is after a SUPER explicit ad of their expected duties & going over all that with them in the first convo to set expectations. I would even tell them I had to fire my previous agents because they were lazy & just wouldn't do anything. They would assure me that would never be the case with them...lol. I've gone through this with about 20 agents now. The whole process of screening them, (grilling them on what's expected upfront, where & how to market, etc). This is the last snag preventing me from expanding to any remote markets I want. I'm just kinda dumbfounded by the pathetic laziness & the fact that they have to do almost nothing to get their paycheck & that's still too much! Right now, I'm just partnering up with newbie investors in those cities & having them do that stuff. I train them & do the marketing & we split the profits 50/50. I just want to get a local agent to do the buyer side stuff so we can focus on closing sellers. I mean, if it were 1 or 2 agents, no biggie. But that many in a bunch of different areas is really odd. Especially because it's not as if I'm "mousey" with them in the beginning. If anything, I'm more like Kramer in Seinfeld (where he tells the girl "she looks fine, she just needs a nose job")...lol. I tell them upfront to not waste my time or theirs & I can't stand lazy agents. Anyway, has anyone had this experience & have any solution ideas? Thanks, Jay von Mohr 657-777-3540
  3. I was going to wait a bit more til I got more comfortable with all the parts of a l/o BUT I saw an ad this weekend that said: $500K to $750K Private party looking for creative opportunity to purchase single level, single or posssibly dual family residence, with 4 BD/ 2BA minimum, no heavy car traffic, no pool, no HOA. Santa Barbara/Goleta. Up to $750k price range or maximum mo payment with taxes & Ins 3500-4000mo if residence has income opportunity avail. OR $500k-550k 3bd/2ba for property without income potential. All Inclusive Trust Deed (AITD)? (do an internet search for explanations) Owner Financing? Assumable Loan? Me take over payments? Lease with option to purchase? I am a private party. I HAVE DOWN PAYMENT MONEY. I am open to exploring mutually beneficial opportunity. Please email. Realtors with suitable opportunity cooperated with So I left her a msg. . . and she called me back today. Get this, she is a financial investment adviser. She just finished her bk last month---marriage gone bad story (been there, done that). Anyways she said she wouldn't want to lose her option money even tho she has about 15-20k for it. She says there is no way she will be able to qualify in a year or even 2. She is just getting ready to sign a lease on a house---she will be paying $3500 in rent!!!! she'll rent out a room to take the edge off. She sounds like the real deal and she prob knows more than I do about all this. Is she right is there no way she would be able to get a regular loan in a the near future? If I can find a prop for her I'd just turn her over to the seller. I may offer her some credit repair services tho. Whatcha think oh knowledgeable ones? Thanks!
  4. Hey gang, i sent this to Michael but then thot it might make a good lesson discussion here in the forum. I am still not sure what can and can't be done with crei. There are many strategies that I haven't studied yet. I know I've read about investors that go on deed and take partnership in a prop like this scenario---I don't know how to do it tho. So here's what I found on CL: There is one comp---sold at $212 a couple months ago. It looks like an investor comp tho cuz it was sold by a home auction & realty co. $249k 2 + 1 1/2 nice condo 999 square feet, 1 year old carpet and tile, double pane windows, fireplace, grassy areas outside, not close to a bunch of others ....this complex only has 5 condos in it and the owners are the association. The association fee is less than $250 a month .... Need help, need someone to purchase for $249,000 right away so I don't go into foreclosure...been on unemployment over a year and finally got to where I can't make the payment....Owned the condo for over 10 years and hate to let it go. Need to come up with around $35,000 at least to put it back online and rent out or perhaps bring a partner in to help get it back online. Things are going back up and at one time this condo was up to $550,000, should have sold it then! Oh well, maybe there is someone out there wanting a small beach get-away vacation home! Really cute place - has a single car detached garage also. Thanks for inquiring and will send pictures to those really interested. I emailed him but considering his sitch I don't think a l/o will work. Any thoughts? Thanks!
  5. Hi Michael (& everyone), I've been doing lease option assignments for a while & have been assigning to the buyer. I have Adam King's course & have studied Michael's & really want to switch to assigning back to the seller instead. It just seems cleaner & easier to me. My issue is, I have the assignment docs that assign to the buyer, but I can't figure out how to change the language to assign to the seller. I'm doing deals in SoCal, NM & some other cities. I've been signing up sellers with a simple 1 page lease option memo that is super easy for sellers to sign (Joe Crump method). I then fill out the option & lease with the seller & me, then assign to the buyer. I want to keep the 1 page memo signup with the sellers. Then create an option & lease between me (as the owner or landlord) & the end tenant buyer as the tenant /buyer, then assign that back to the seller. I'm not sure if the assignent docs needs to refererence the original 1 page memo I had with the seller (that gave me the principal interest), or just the option & lease I have with the buyer. Plus what the names of the parties are (optionor, buyer, seller/optionee? etc.) Any help is greatly appreciated! Thanks, Jay von Mohr 657-777-3540 www.isound.com/jvm
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