Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
mamasanta25

lease purchases

Recommended Posts

Hello,

I am considering purchasing the manual today. I just need a little assurance. Is is true that lease purchase deals are made and not found? I ask this because in my area those are very hard to find. My husband and I wanted to try to get into a home that way because our credit it shot, and we could not find anything like that. Sellers just aren't willing to go that route. I assume though, that the manual, and most courses out there give the reader plenty of suggestions as to how to formulate deals. Please understand, though the manual may be a decent price, if I won't be able to get out there and do deals, I will have no use for it. I am so ready to get into investing, I just want to make sure I am not jumping the gun. I want to be sure lease options are the way to go for me. How exactly would I profit from doing such deals? In a nutshell. Thanks for all your input. I enjoy coming here.

Samantha T.

Share this post


Link to post
Share on other sites

Samantha

 

If your serious buy the course. I assure you the info is in there. Unlike other courses I have wich cost thousands when you add the mentoring with it. This is a good course, You will not have to dig to find out how to do it. It is written out very clearly. It is no where near as hard as you may think. I believe the main problem is when your first starting out is that you feel intimidated. Intimidated by the high numbers in RE, intimidated that maybe you forgot something, somone you talk to might no more than you. Guess What! If you just take it step by step you will not have a problem. Do not try and get ahead of yourself. Follow the insructions and do it. When I first began I procrstated forever. I finally decided to do it. You wont belive it but the first call I made on a FSBO was my first deal. Dont expect those results. That was luck. Its a numbers game and my number just happen to come up on my first call. I admit I made a few mistakes it was a little rocky and nerve wrecking. At the end, it took two months to do entire deal. Thats get the home under contract and find a buyer. I walked away with a check for 5k. Not to bad. I probably had 10hrs work in it total. I really cant imagine I had that much in it. There are many different ways to make money with Lease Option and they are covered in the manual. Believe me if your serious and will do what it takes buy the course. If your going to use the course to collect dust dont buy it. Its that simple. You can do all the question asking you need to on sites like this. I personally wouldnt feel comfortable doing my first deal depending on answers from people who dont even know me and I dont know them. You need to have a course so that you can follow the outline drawn by someone that has done it.

 

Good Luck

 

Scott

Share this post


Link to post
Share on other sites

Samantha, I can appreciate your apprehension about taking the plunge into a new venture. Scott is correct when he says the intimidation factor is a big hurdle to overcome when you are beginning. However, you have the advantage of a support group right here. You are not in this alone. There are others just like you on this board, at the same level, who are willing to share their experiences and how they overcame their fear factor and Paralysis of Analysis. There are others of us who have more experience and we can guide you, as well, as your questions arise.

You don't say where you are located, but much of the country is a sellers market these days, and has been for several years. While that may make creative deals of any kind more difficult, it does not make them impossible, Samantha. Sure, we have to work harder to find the deal. We need to be more creative. That's why I cover other techniques in my manual beside the sandwich lease. In the real world not every seller is going to have that level of motivation. But, I am not here to sell you a get rich quick scheme, and hard work should not frighten you. If you are willing to make the effort, I and others here are willing to provide the support.

You say you are "so ready to get into investing". Then do it. Follow your heart, my dear. Whether it is my manual, or another is irrelevant to me. You are welcome here and I will do all I can to see you get that first deal or three.

Share this post


Link to post
Share on other sites

Michael and Scott,

Thank you for your responses and your assurance that I have support here. I am certainly not afraid of hard work. I live in a smaller town in WI, about 83000 people. There is a lot of potential, though. I can feel it. There are many older landlords who own half of the town. Maybe I can target them, or use one of your techniques. I am between Milwaukee and Chicago, but I prefer to stay near my home. I am a half time student and take care of my two daughters who are 2 and 7 months. Anyhow, I have extreme passion for this subject of real estate investing, and I would like to make it my career. I will buy the course. Thanks for the motivation.

Samantha T.

Share this post


Link to post
Share on other sites

Hi Samantha:

 

For what it's worth, I'm going to toss in my two cents worth.

I bought Michaels manual back in November and have read it cover-to-cover three times now. I have two manuals from other 'gurus' out there that were $169 and $249 respectively, postage not included.

For $89 you will not go wrong! Michaels manual is easy to read and understand. There is no better website than this one so far. Michael and everyone on this site reply very quickly and the advice and info. you get here is free...and free is a good price, right?

Good luck and stay in touch with us. Sincerely, Andrew

Share this post


Link to post
Share on other sites

Andrew,

That is worth a lot, actually. Thank you. I did get the course, so I look forward to getting started. Did you pay 169 dollars for Joe Kaiser's course? I almost bought that one, but decided to go with Michael's. How have you done so far in this business with those three courses? Thanks for your input.

Share this post


Link to post
Share on other sites

mamasanta25,

 

I am not andrew but I know he is in Korea right know but can't wait to get back and start at the end of the month. Gods speed Andrew, wanna see who gets the first deal? A little compotition never hurt anybody.

 

Tony

Share this post


Link to post
Share on other sites

Samantha:

 

Good to hear that you got Michael's course. To answer your question, yes, it was Joe Kaiser's course. The other one was Bill Bronchick's. Yes, I like them all and I've learned a lot from all of them. However, I found myself getting back into the Paralysis of Analysis that Michael talks about. Bronchick's course is more on the legal side of l/o's but you dont need to spend the $249 I did to get that information. If you look at this site, there are questions pertaining to 'due on sale' clauses, etc. that Michael answers.

There is no need to spend more money for more courses right now. Study Michael's manual thoroughly and you will have enough 'ammunition' to make a go with l/o's. I had a good chat with Michael the other day on the phone and he advised me to stay within my budget. Needless to say, he is correct.

My success so far? Hmm..well yesterday I sent e-mail to 24 FSBO's I found on the internet. 36 hours later not one response. Time will tell.

As Tony mentioned, I'm still in Korea but I already got started because reading others' success stories drives me crazy. Not that I'm jealous...but I'd like to get into the action too.

On another note. I've tried several times to contact J. Kaiser and he has never responed. B. Bronchick is not accepting students right now and telephone time with him is $300/hour minimum 1 hour. Joe Crump has taken on several hundred students through teleconferencing and I downloaded one of them but was not impressed not to mention that I prefer more one-on-one.

Michael on the other hand, is lightning quick to respond to e-mails and we had a good chat the other day. I planned for it to be 20 minutes but it turned out to be about a short 50 minutes. I have asked him to mentor me and I will start within the next 4-5 days on his program one ($985). The reasons? First, he is available, second, he's prompt; third, his programs are very reasonably priced.

Samantha, if I havent already said so, stay in touch with us on this message board and I'm sure many of your questions will be answered. I know mine have. Stay tuned as I'll be posting the result of my search for properties on the internet on this message board. It seems to me that not many people out there have had luck or lack experience with using the internet to land deals so since I'm here in Korea with a bit of free time on my hands, I decided to try to be a pioneer in this area.

Hope this information helps. Take care and good luck.

 

Sincerely,

 

Andrew

Share this post


Link to post
Share on other sites

Hey Andrew,

If you don't mind, could you tell me the basic format of the letter that Joe Kaiser reccommends that one send to a "tired landlord"? I may have to go that route, or at least try it in conjunction with the three approaches that Michael mapped out. I feel that it may be very difficult for me to find a seller that doesn't need every cent from the sale of the house in order to get from point a to point b. I will still try my hardest, but I just know that there are many "older" landlords here in my town. One, in particular, is in his eighties. I have rented from him. He does have a son and a daughter who I am sure will take over the business, but maybe he wouldn't mind giving up one or two properties. You never know. I don't know, maybe I would even try to get a land contract with this particular gentleman, but I need to research that possibility first. Does anyone know the basics of land contracts? Hey, thanks for your help.

Samantha T.

Share this post


Link to post
Share on other sites

Hi Samantha;

 

Out of respect for both Joe Kaiser and Michael I wont give specific details without both their consent. The information below is just the basics.

Mr. Kaiser goes to the courthouse and gathers info. on people that got divorced, owners of rentals, people near forclosures, etc.

He mentions using postcards for contacting owner/sellers. The script is something like this:

 

Hello Mr. Seller.

 

1. property available on 'rent to own' ?

2. I have good credit and guarantee payments

3. fixer-uppers ok

 

Sincerely,

 

Name.

 

Samantha, this is about as bold as I dare get. I noticed your other post and I think the others who have replied have some good ideas.

Hope all this helps.

 

Sincerely,

 

Andrew

Share this post


Link to post
Share on other sites

Hi, Samantha. In the package of electronic forms I sent you is included my Sample Intro Letter. This is one I have found to be effective over the years. You can start with that and certainly customize it as you see fit.

Share this post


Link to post
Share on other sites

×
×
  • Create New...