Question for Michael

[EQUITY NOTES 0]

Hi Everyone,

 

Michael,

 

My questions is in regards to your contracts

 

Can you tell me how many pages your c/a contains

 

Mine has 9 pages and most all but the 2nd page are in regards to what the t/b must do and not do

 

I feel it may scare seller and create a need for a 2nd opinion

 

 

I did pen you a note about mine and where I had received them

 

An attorney reviewed them and only put in a few minor changes such as:

 

"The initial rent payment hereunder shall not be due until the first day of the month following the date that this agreement is assigned to a subsequent tenant buyer"

 

Would your c/a have something similar, as I do like that part

 

Thanks,

Tom

[MichaelC 160]

Tom, I don't know if you are looking at the wrong Agreement, or if I am. But my CA Residential Lease Agreement is five pages, not nine. Then, the Option to Purchase Agreement is two pages. And to complete a CA deal, we would wrap it up with the CA Assignment of Agreements, which is one page.

The clause you quoted is not in mine. However, Tom, you can certainly tweak any agreement to suit your preferences and/or local code.

And as for scaring the seller, quite the opposite, actually. These documents are very pro-homeowner. If they take the time to read them and understand them, they'll be very appreciative and pleased.

[EQUITY NOTES 0]

Thanks Michael,

 

Sorry if I confused you, the contracts are not yours, they are from a person you studied with several years ago.

 

I will take your advise and tweak them, as I mentioned I may purchase your manual as it would much easier to work with yours as I like the way you and the forum contribute to investors

Again,

Thank You

[mpine 0]

You working with that Claude Diamond NoGoodNick?...

 

Claude is actually the man, he is probably the first person I called about Lease Option who picked up the phone and spent about 45 mins going over lease option and such without so much as a pitch. I told him simply I was a mortgage broker trying to turn some of my investors properties right side up and I thought LOs could help.

 

Great guy, can't vouge for his course as I went with MC's instead, but he is an excellent conversationalist and seems super patient, I would recommend him highly if MC weren't doing this.

[TPSG, LLC 3]

Umm...not to cause any uproar here, but my opinion of Claude is completely different. I called him to ask a very basic question, even told him I was once a student of MC's and the first thing he said was, "Are you willing to pay for my time?"

 

I said, "what?"

 

He said "is your question important enough to pay for my time?"

 

So I said, "not really, evidently you're not the man I heard your were"

 

End of conversation.

 

Just had to put that out there, I thought it was kind of interesting and pretty much helped me make up my opinions of him. This by the way was about two weeks ago.

[mpine 0]

That saddens me, oh well I think I am over it now. I called him probably around 2003, maybe things were slightly less cuthroat then.

 

Mike