tlpadil 0 Report post Posted October 26, 2008 Has anyone used Bill Effros 5-Day Method with Lease Options? It looks like a good way to find TB's fast. tomas Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted October 26, 2008 I have on several occasions with a twist. I don't do it for 5 days. I use 10 days. That way I can cover two weekends. It all boils down to marketing. Share this post Link to post Share on other sites
tlpadil 0 Report post Posted October 26, 2008 I have on several occasions with a twist. I don't do it for 5 days. I use 10 days. That way I can cover two weekends. It all boils down to marketing. What do you have them bid on...the rent, Option, or selling price...or all three? Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted October 26, 2008 If I was doing a lease option auction or bid sale I would have them bid on the option deposit. If I was selling retail then it would be price. If I was doing a straight rental then it is the rent amount. I have never done a rent deal. The reason being is the amount of marketing versus the amount you get does not compute. Share this post Link to post Share on other sites
Guest Diver Report post Posted October 27, 2008 OK I have an idea of whats going on but would someone explaine the method a little better. Thanks, Diver Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted October 27, 2008 Get a home under contract.Market the home for 10 days. Highest bidder gets home. The night of the final bid call all bidders back and start working them to get the highest and best price. Or do what I do and use the internet. Ask questions and I will answer. I went ahead and placed one of my properties for RENT via the auction method. We will see what happens. www.jonsellahome.com/102 I will be using the internet to do my bidding and also using signs and newspaper. Share this post Link to post Share on other sites
tlpadil 0 Report post Posted October 27, 2008 Get a home under contract.Market the home for 10 days. Highest bidder gets home. The night of the final bid call all bidders back and start working them to get the highest and best price. Or do what I do and use the internet. Ask questions and I will answer. I went ahead and placed one of my properties for RENT via the auction method. We will see what happens. www.jonsellahome.com/102 I will be using the internet to do my bidding and also using signs and newspaper. I am getting ready to try the process on a Lease Option property. I will post the method and results once I finish. tomas Share this post Link to post Share on other sites
hassansr 0 Report post Posted November 5, 2008 I always give my self at least 90 days on an option. The rest is marketing Share this post Link to post Share on other sites
KYTiger 0 Report post Posted May 29, 2010 After using the 5 day method, do I just assign the option to the retail buyer. How do I setup a deal where there is >5k profit with a retail buyer who is using FHA or conventional funding? I understand that the cancellation idea does not work all the time. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted May 29, 2010 You have a Pure Option on the property? If so, then yes, you can assign that Option to the highest bidder. That's certainly the easiest way. Share this post Link to post Share on other sites
