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Nice site, Dan. Mind if I steal a few ideas from you? :)

 

Steal away, my Northern friend. I'm constantly trying out your suggestions!

 

Dan

Freedom Creek LLC

That's a real nice looking site Dan (SOCAl).

 

I have to ask, I hope you don't mind...How much of of that "move in money" do you get to pocket? :o

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DAN, Hey man this is amazing! Seeing deals done in my own backyard (literally) is very motivating. Is there anyway you and I can get together for lunch on me? Id love to have a mentor I can meet with and share experiences with. Anything I can do in return I will- maybe bird dog for you at first in return for some experience and tips.

 

Jared

 

Nice site, Dan. Mind if I steal a few ideas from you? :)

 

Steal away, my Northern friend. I'm constantly trying out your suggestions!

 

Dan

Freedom Creek LLC

That's a real nice looking site Dan (SOCAl).

 

I have to ask, I hope you don't mind...How much of of that "move in money" do you get to pocket? :o

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That's a real nice looking site Dan (SOCAl).

 

I have to ask, I hope you don't mind...How much of of that "move in money" do you get to pocket? :o

 

Thanks, Steve. MC taught me not to negotiate with my assignment/option money and it has been the best thing for me. I managed to give away $4600 to the seller on my first deal, but not a dime since then. I make sure my sellers get a cashiers check for first month's rent and a security deposit equal to first month's rent (included in the T/B's move-in payment); everything else is mine.

 

Today, when a seller asks if I'm willing to share half my option money, I ask if he's willing to share half his equity. :) I also point out that there's no secret to what I'm doing....if he wants to structure the lease, the option, the rent credits ("the rent credits?!!") and find a T/B for himself, then he certainly doesn't need me and he can keep ALL of the option money.

 

Dan

Freedom Creek LLC

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DAN, Hey man this is amazing! Seeing deals done in my own backyard (literally) is very motivating. Is there anyway you and I can get together for lunch on me?

 

Free lunch? :) I'm sure there's a way we can get together, Jared. Contact me.

 

Dan

Freedom Creek LLC

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Yeah, I agree with the others.

That's a nice site & gig you got going on in the Golden State.

It just so happens that I've tailored my site to something

similar to yours.

So don't be thinkin' I stole something. :)

 

Where do you get the majority of your leads?

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Where do you get the majority of your leads?

 

I primarily target homeowners who have their properties for rent. I'm also working with a couple of investors who buy properties and have me set up LPs for them. I've landed one from working the FSBOs on Craigslist and I have a financial planner who has sent me a couple of good leads. Satisfied home owners who I've set up LP's for have referred me to other deals.

 

Dan

Freedom Creek LLC

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Is your ability to collect that much option money simply due to the price of housing out there?

 

How long does it usually take to find someone with that much?

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Is your ability to collect that much option money simply due to the price of housing out there?

I'm thinking yes: $500,000 house x 3% = $15,000 option.

 

How long does it usually take to find someone with that much?

16 - 28 days. The longest I've had a house that sells is 28 days. If they go past that (45 - 60 days) I end up giving them back, and unfortunately I've had my share of those.

 

Dan

Freedom Creek LLC

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If they go past that (45 - 60 days) I end up giving them back, and unfortunately I've had my share of those.
Dan, what's the percentage between sold/unsold?

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Dan, what's the percentage between sold/unsold?

I'm averaging 60% sold. Of the 40% that didn't sell, my gut feeling on half of those was that they would be tough to move, generally because of the condition or oddball layout. The other 20% were surprising and I hated to lose them. I don't do well with even slightly ratty homes, and do extraordinarily well with pristine homes in nice neighborhoods.

 

Dan

Freedom Creek LLC

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Our tastes are remarkably similar. I can sell a house that needs some touch-ups but nothing major. Generally I just go with my own feeling toward the property when I'm in it. If I can see myself living there I'll sign the deal, if not, forget it.

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Our tastes are remarkably similar. I can sell a house that needs some touch-ups but nothing major. Generally I just go with my own feeling toward the property when I'm in it. If I can see myself living there I'll sign the deal, if not, forget it.
Doug, I don't care if the house appeals to me personally. Someone, somewhere will buy the property. I'm more concerned with the numbers. If the deal is a good one, it'll move.

(Although there is some truth to my theory that ugly houses attract ugly tenants.) :)

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Michael, no question the numbers come first for me too. It's not so much that I CAN'T sell a house I don't like, it's more than I would rather not try. Especially if it's going to be a long-term situation. Hmmm. You know what? If I run out of houses I like to do deals on, then I'll give it a try on one I don't :)

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Nice website Dan.

 

Is the property that you are currently selling a CA or a SLO?

 

What percentage of your deals are CA vs. SLO?

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Nice website Dan.

 

Is the property that you are currently selling a CA or a SLO?

 

What percentage of your deals are CA vs. SLO?

 

Thanks, JRG. I started out thinking SLO, but have never done one. All CAs so far. I'm still on the lookout for deals with enough room in them to do a sandwich, but so far CAs are the only thing that make sense.

 

Dan

Freedom Creek LLC

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