Finding landlords willing to sell

[Doug Pretorius (ON) 9]

I don't get it, how do you guys find landlords who are willing to do a L/O?

 

Every conversation I have ever had with a landlord ended one of two ways:

 

1. "No I don't want to sell."

2. "Sure, at the end of the lease we can talk price."

 

I've never found a single landlord willing to set the price today. If they're willing to sell down the road at all it's always this "wait and see" attitude.

[MichaelC 160]

Obviously, Doug, you're talking with a homeowner who is very content being a landlord, also. Find a homeowner who has been forced to become a landlord, (couldn't sell), and you'll be met with a handshake and a hug.

[Doug Pretorius (ON) 9]

Right...thanks. Sometimes I forget that "no" just means I'm talking to the wrong person.

[Jason (AL) 1]

Right...thanks. Sometimes I forget that "no" just means I'm talking to the wrong person.

 

On the contrary, amigo!

 

It's not that you're talking to the wrong person.

Perhaps all that's needed is a role-reversal.

Rather than leasing/buying FROM them,

just find some decent rental property, tie

it up, and sell it TO them.

 

They're obviously not parting with any

of their properties, so the only thing that's

left to do is make sure they're being supplied.

[Doug Pretorius (ON) 9]

Jason, good idea if you want to do more than one thing at once. I learned a long time ago that I don't operate well under those conditions. I need to remain focused on my one single niche to the exclusion of all else otherwise I'm lost.

[Jason (AL) 1]

True, true.

I experienced the same thing.

However, if a deal ever came up that wasn't

my main focus, I would still...perhaps...make a few

$change$

 

So your niche is now.........

 

??

[Doug Pretorius (ON) 9]

Niche: SLO.

 

For awhile I did the CAs and the pure options with the plan to do a higher volume to make up for the lower profits, but that didn't work out. CAs are no easier for me to find than SLOs, and pure options are too hard to sell.

[-Tony- 0]

I learned a long time ago that I don't operate well under those conditions. I need to remain focused on my one single niche to the exclusion of all else otherwise I'm lost.

 

ditto

 

 

However, if a deal ever came up that wasn't

my main focus, I would still...perhaps...make a few

$change$

 

good point

[Gordon Holtner 0]

Hello Doug

 

What I found that is really strange in Alberta, is that landlords not wanting to set a price is not really a problem with tenant buyers. In fact they demand it given the choice between a future set price based on half appreciation and 75% rent credits they would just rather have it based on on the appraised purchase price after one or two years with low rent credits. I just found this out the hard way I had a deal just before Christmas that I lost because of this with a landlord. The people who I qualified to look at the house said to me what if it doesn't appraise for this at the end of the term?

[West Coast Girl 1]

Hello Doug

 

What I found that is really strange in Alberta, is that landlords not wanting to set a price is not really a problem with tenant buyers. In fact they demand it given the choice between a future set price based on half appreciation and 75% rent credits they would just rather have it based on on the appraised purchase price after one or two years with low rent credits. I just found this out the hard way I had a deal just before Christmas that I lost because of this with a landlord. The people who I qualified to look at the house said to me what if it doesn't appraise for this at the end of the term?

 

Hi Gordon,

 

This was talked about here at this thread, particularly from post #8 onward!

 

 

Cheers,

 

Jean

[Doug Pretorius (ON) 9]

Gordon, it is a problem for me because there's no way I'm going to do a SLO without a fixed price. I find it so much easier to deal with sellers, because they've already decide on the price they want, all you have to do is find out how much they need to cover their payments and you've got yourself a deal!

[Gordon Holtner 0]

Hi Jean

 

Thanks for the response, I can't seem though to get the link to that topic it all it says is board error.

[Gordon Holtner 0]

Hi Doug

 

Sorry I should have read your posts a little better. I know that the appraised value thingie that many rent to own companies here in Alberta have going would not work for SLOs. Yes I can feel your pain dealing with landlords it is like negotiating in the ocean with a shark when you are bleeding.

[Doug Pretorius (ON) 9]

like negotiating in the ocean with a shark when you are bleeding

Landlords? Oh... for a second there I thought you were talking about Realtors

 

A few hours ago I came across a house listed for sale and for rent, so I emailed the realtor (dumb). He replied with: "I checked with the seller and he doesn't have a rent-to-own scenario in mind."

[MichaelC 160]

like negotiating in the ocean with a shark when you are bleeding

Landlords? Oh... for a second there I thought you were talking about Realtors

 

A few hours ago I came across a house listed for sale and for rent, so I emailed the realtor (dumb). He replied with: "I checked with the seller and he doesn't have a rent-to-own scenario in mind."

I'll bet you a quart of Canadian Grade A maple syrup he never contacted the homeowner.