JerseyJeff 0 Report post Posted March 26, 2003 When speaking with a seller, how do you work into the conversation that you will not be the person living in the home, and that you will sub-leasing (sub-letting) the property to someone else? JerseyJeff Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 26, 2003 That is something you must do very early on, otherwise you come off as a con man using a bait and switch tactic. Try explaining that this is your business and you do this for a living. You have tenant/buyers waiting but not enough properties to meet that need. See what kind of reaction you receive. And don't use the term sublet. It scares 'em away! Share this post Link to post Share on other sites
JerseyJeff 0 Report post Posted March 27, 2003 Ok...what word(s) would be better advised? Thanks,JerseyJeff Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 27, 2003 Rather than bear down on them with terms such as "sublet", or "assign", I let them know immediately that I am not looking at their property as my own personal residence. Rather, my company has more tenant/buyers than properties, and their ad caught my eye because it sounds as if it could fill a need we have.Makes the homeowner feel needed and in control. Puts them at ease and helps them to open up a bit. However, if they are flat out opposed to this concept, wish 'em luck and move on. Don't waste your time fighting with a homeowner who is neither interested nor motivated. Take a non adversarial approach and you'll fare much better over the long haul in this business. Share this post Link to post Share on other sites
JerseyJeff 0 Report post Posted March 27, 2003 Great...That helps alot...Thanks... One question, when you tell them I am not looking at their property as my own personal residence. Rather, my company has more tenant/buyers than properties, and their ad caught my eye because it sounds as if it could fill a need we have. do they turn around and feel this is going to be a "cooperative lease" instead of a "sandwich lease?" Thanks for the help, JerseyJeff Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 27, 2003 Good question, JJ. I don't think the homeowner is thinking Cooperative Assignment, or Sandwich Lease. They probably haven't the slightest idea, at that point, about the specifics and possibilities of lease purchasing. The determination of what type of lease purchase transaction will come about after some discussion about their situation, needs, and preferences. Once you have some information, and you have educated them to some extent, a natural progression to what type of deal works best will be reached. Share this post Link to post Share on other sites
JerseyJeff 0 Report post Posted March 27, 2003 Yeah, you're right. I doubt they will be thinking, "Hmmm, this looks good for a co-op lease." Thanks for you help, JerseyJeff Share this post Link to post Share on other sites
