My Next CA

[option8 0]

Recently, I sold a property for an investor with a closing of that deal at the end of last week. This investor had another property that they thought was lease optioned, but the deal fell thru. Their deal was $70K in 2 years, $675/mo, $25.00 rent credits...not great, but sufficient to get make the property cash flow. They have plans to put in all new doors and new windows.

 

I just so happened that I have this extremely valuable list of buyers, so on Monday, I suggested I take a crack at filling this for them and told them I could do it quickly. I called the buyer I had in mind on Monday evening and told them "I have just the house for you." We agreed to meet at the property yesterday (Wed) at 4:00pm. (Mind you, I'd never been in this property...)

 

We walked in the front door and before we passed the entry way, the husband said "I want this house". At that point, I knew we had a deal---all I had to do was go thru the process...explain how my Rent to Own program works, go thru the buyer benefits, present the alternative pricing scenarios and ask which they prefer. I was able to get $69,900 for the property in 2 years, $3500 up front option payment, $ 700/month with no rent credits. In a couple of months they want to start paying an additional $100 / mo for $125.00 rent credits. I came home yesterday with the money for credit check and a plan to get the deal consumated in time for them to have the keys before the 1st of June.

 

All of this took exactly 30 minutes! The investor was so pleased, he agreed to install new carpet throughout the home before we turn over keys. (...adding that he would like to go find more homes and have me repeat the process)

 

What is working here?

First of all (and most importantly), I have a ready list of buyers with whom I have established a good working relationship. We've formed a partnership to help them locate their next home. These buyers are actively looking for a new residence and ready to leap when we find "the home". Their lease applications are already in hand, so I know exactly what I'm dealing with. I know who has money and how much they have to work with. With all of this in hand, I can honestly tell any home seller "I have buyers for houses!" and "You can get top dollar!"

 

Secondly, with this list of buyers, I can let the investors know where my buyers want to live so they can target their property purchases in those areas of town.

 

Thirdly, my list of buyers self-select themselves thru the process...the cream rises to the top. If they provide me with everything I need, they increase their likelihood of getting a home. I actively/agressively look for houses for the ones who play by my rules. I'm not kissing any frogs and not dealing with many tire-kickers. They may look at a few properties, but that's okay with me. Each time they look, I get to further build that rapport with them. This group of buyers is also out looking for FSBOs too, so they are also birddogging.

 

It has taken a little time to refine the process and to develop the pool of buyers, but now it is time to "plug and play" Buyers into Houses---I keep the option fee.

 

Hey, I just realized that maybe this is why I'm called option8 (there's a good goal...do this 8 times per month!)

 

happy investing!

I'm off to draw up the latest contracts...

 

option8

[Barry 0]

Way to go option8 !!!!!

 

You're getting your cookie cutter system in place!

 

No doubt in my mind you're headed for big success. Keep up the great work and keep in touch!

 

Regards,

Barry

http://www.sellthehousefast.com

 

 

Nothing in the world can take the place of persistence. Talent will not. Genius will not. Education will not. Persistence and determination are omnipotent.

 

— President Calvin Coolidge (1872-1933).

[<Steve> 82]

Awesome option8-

 

Your a great example for all of us.

 

<S>

[Gary (MO) 0]

Nice! A 'system'. VERY nice!

 

Gary

[Adam King (MI) 1]

Option 8,

Hey man, you tryin' to break my record or what?

Cool stuff,

Adam