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AMPinvestor

L/O OUT OF FARM

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I have a deal on the table to where the home owners has enticed a lease option, but is listed with a realtor. This deal is through a local realtor (listing realtor) who has been trying to set me up with lease option deals.He wants first and last months plus $3,000.00 option. Totalling $5200.00 Market is $130,000.00, he would entice a three year offer for $130,000.if he gets his $5200.00, is able to let his lawyer look over the contracts and he mentioned putting a clause in the contract stating that if rent is late the property would default back to him. This is the realtor saying all this and I haven't even met the owner. I countered to the realtor that I wasn't to interested in the $5200.00 option, but was interested in the other elements of the equation less the clause. If I might add this is about 25 minutes out of my farm land. What recomendations can I get :huh: One last thing these realtors are diligently working to give me opportunities they just keep having stipulations and other things that make their offers not so attractive.

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This is a deal and a homeowner I would turn from. He's asking first and last month's rents, plus another $3K option consideration. You need to ask yourself what's in this deal for you. How would you be able to recoup your $5,200 cost? Sounds to me like you are not dealing with a motivated seller...........at all.

I am not opposed to working with Realtors. I think that is a good supplemental source of leads and potential deals. But, I think you can see now the inherent problems with doing so. Despite good intentions, perhaps they don't fully understand what you do and how you do it. Of course, there is always the issue of how they are going to receive their commission, too.

I suggest you concentrate your efforts into dealing direct with the homeowner. This means calling on FSBO's and FRBO's, and marketing so they call you.

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Mike, thanks for the response as always your input is appreciated and respected. Iwas wondering if there are any good fsbo and frbo research sights that may be universal to location. I feel as though I am beating a unbeatable path. I make my calls and network etc. I am know trying to market through setting up a web sight and street signs. Any information is greatly appreciated.

Shane.

"It's in your moment of decision, that your destiny is shaped"

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Shane, I'm not certain what you mean when you ask about FSBO/FRBO sites that are "universal to location".

Perhaps this thread is helpful?

Let me know if this is what you're looking for, and what other info you need.

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Hi Shane:

 

If I'm understanding you correctly, you are asking about FSBO/FRBO websites to get leads?

If that is correct, then please look at the post under the 'everything else' on this website. Several other people and myself posted some websites that might be of interest to you. Just for starters...try:

 

www.owners.com

www.allthelistings.com

www.fsbo.com

www.fsbon.com

www.nofeelistings.com

www.byowner.com

 

Hope this helps and good luck to you!!

 

Andrew

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