AMPinvestor 0 Report post Posted March 18, 2003 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 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. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 18, 2003 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. Share this post Link to post Share on other sites
AMPinvestor 0 Report post Posted March 18, 2003 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" Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 18, 2003 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. Share this post Link to post Share on other sites
Andrew Ikeda 0 Report post Posted March 19, 2003 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 Share this post Link to post Share on other sites
AMPinvestor 0 Report post Posted March 25, 2003 Thanks for the web sights, I will check them out and let you know how they worked out for me.Shane Share this post Link to post Share on other sites