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bdsh99

My First Lease Option

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I came across a FSBO that appears to be vacant (how do I know? we just got a foot of snow and two days later the driveway was not shoveled but there was a nice little path to the front door) anyway I would like to approach the owner but not sure (or not confident enough) of what to say to him and how to acctualy go through the progression of offers and how to structure them. This is a pretty house with a value of about $275,000. I want to L/O the house and L/O to a tenant/ buyer.

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You won't know until you do it. Pretend your mind is always blank and just ask about the house. The seller usually does the rest for you. Don't forget you're the buyer and don't have to buy.

Regards,

Adam

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bdsh99, it is all but impossible to explain in a single post how to transact a real estate deal from start to finish. At the very least you will need some basic information and know how to safely and legally transact a deal.

A little background info about yourself might help us to help you.

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MC, I guess what I am saying is, when I call this guy and he is interested in L/O, what next? Do I go to his house? Meet somewhere nuetral? And then when we meet what contracts ecactly do I use? Do I have my attorney look at your contracts first to make sure they are legal in my state? When I do get the FSBO under contract I need a T/B. Same questions as far as contracts and paper work. Do I meet the T/B at the house or let him go with out me to show it to him? I guess what I am looking for is the A-Z from start to finish in putting this deal together. I don't want to go into this deal blind, I know I would have more confidence if I new the exact structure before I began the deal. Or should I 'just do it' and worry about the details later? Is it ethical to advertise a home for sale with L/O that you don't control yet? Sorry just a lot of questions that keep me from moving forward to my first deal.

Any help would be appreciated.

Thanx

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Again, I would love to be able to explain, step by step, what needs to be done to get the deal completed, without risk and worry. Unfortunately, I don't see how I can do it in a single post or two. Truth is, this isn't all that difficult. On the other hand, there is a certain amount of know how that is required to move forward.

And as I suggested previously, some background about yourself would be helpful, too. Location, previous experience, previous studies, etc.

I want to help you, but at this point your questions are too vast to do so.

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bdsh99, it is all but impossible to explain in a single post how to transact a real estate deal from start to finish.  At the very least you will need some basic  information and know how to safely and legally transact a deal. 

A little background info about yourself might help us to help you.

 

 

Hey bdsh99,

 

Do you have the manual? IF NOT..BUY IT. It took about a day to determine that I needed the manual so that I would better and fully understand the LP (Lease Purchase) world. If you need more step to step help, I am pretty sure MC would be more than willing to Mentor you. Check out the mentoring link to see what it is all about.. http://www.naked-investor.com/mentoring_programs.html

 

If you need more questions answered, the forum is the way to do it. However like MC stated..start slow, introduce the deal and yourself to the forum and ask away. You do however need more specifics

 

Akin

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