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bpmiller2

Working with the competition?

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I don't know about everyone else, but in my market it seems like every investor has jumped on the lease purchase bandwagon. When I scroll through CL ads, it seems that most of the listings are investors offering homes as rent-to-own. However, in my area, I don't see a lot of maketing by other investors for T/B besides the conventional listings on CL and other online sites. With that being said, I think there might be an opportunity to work with these investors by marketing their properties to my T/B list in exchange for a portion of the option fee. I just wanted to see if you all though this was a good idea? Also is anyone else is doing this in their market? If so, how are you presenting it to other investors? How much of the option fee should I expect?

 

Thanks in advance for your responses.

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Combining your assets (your TB list) with the other investors' listings

could be a worthwhile endeavor. Maybe more so if you use your

listings to make more $, as opposed to splitting everything.

But not a bad idea when things are slow on your side.

 

Be sure to get something in writing, as your "competition" could get

a temporary case of amnesia when it comes time to pay up. :(

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Miller, options and lease options are no longer a well kept secret. The collapse of the housing market has brought forth creative ways to move one's property, with this niche being just one of them. You shouldn't be surprised. I think it's a good thing because it means there is wide acceptance of the strategy.

As for working with other investors, my personal bias is that I am usually a bit wary of doing so. I mean, why does another investor need me in the middle of the mix? But if you want to approach this, I would think a 50/50 split of the option consideration is warranted, and be sure to get an agreement in writing to protect your interest.

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