Newbie stepping out from behind the curtain!

[nashvegas 2]

Hello all! I’m new to this form, however I have been lurking and burning the midnight oil reading as much as I can!

 

I must say that I am really impressed with not only the experience and knowledge on this form, but the willingness

to share and help others. I feel very much at home here!

 

A little background.

 

I have studied SLO’s using Wendy Patton’s materials but did not feel comfortable utilizing that technique right off the

bat with no RE experience at all. Then I read someone talking about CAs on another form but had absolutely no idea

what that was. There was a link to this site and…. here I am!

 

This technique makes so much sense to me especially since I’m a beginner. Previously, I have been

in the “analysis-paralysis” mode for way too long! However, once I read about the CA’s within an hour

I was convinced to buy Michael’s manual. That was last Friday.

 

(btw, ordered it 4pm on Friday and got it Monday! )

 

In the mean time I got busy and started my marketing. Monday of this week I went home during lunch and

just started replying to all the FSBOs on Craigslist using the basic “Hi I saw your ad on Craigslist would you

consider selling your house on a Lease Purchase?”

 

I fired off 30 emails, copy-paste, copy-paste, took me 10 minutes. Before I was done, I had 10 responses

in my inbox. 6 yes, 2 depends, and 2 no thank you’s. I kept this going all week, adding Backpage.com,

FSBO.com, and Owners.com. Ended up talking to several home owners

 

You vets out there are right! Us newbies do talk way too much! …and I already have that problem! Probably

scared some off. Oh well!

 

I'm getting better. They are actually still on the phone when I get to the end!

 

I now have four very hot leads. Monday, I have an appointment to sign my very first contract. The others say

that it sounds really good and would like to go over the contracts.

 

I’m very encouraged by this. I know it’s not going to be easy, but I know in my heart that I can do this! I have

Incurred about $5k in medical bills this year and had no idea how I was going to come up with the cash.

 

Now I do…. Do one deal!

 

Okay, now for one of my two my questions. It has to do with the short offer form. Is this a necessary step or can

this be skipped and just fill out the Lease Agreement and the Option to Purchase agreement?

(and of course the Ca assignment agreement when I find a tenant/Buyer)

 

The other question is, what if the owner still wants to market their house while you are? I’m imagining two ads in

Craigslist for the same house by two different people. Or two signs in the yard. (I’m exaggerating a bit here)

I know you can set up the agreement to be non-exclusive. However, how does this usually play out?

 

Wow, I just looked up at what I wrote. Sorry for the book!

[MichaelC 160]

Hello, nashvegas, and welcome to The Naked Investor. We're glad you found us.

Now that's what I like to read. Received the manual, read it, put it down and went to work. And within days you have set an appointment to close your first deal! Sweet.

 

Okay, now for one of my two my questions. It has to do with the short offer form. Is this a necessary step or can this be skipped and just fill out the Lease Agreement and the Option to Purchase agreement? (and of course the Ca assignment agreement when I find a tenant/Buyer)

There is no one absolute way to run your business. If you are comfortable doing things your way, then go ahead and do it. Just be sure the terms are understood and agreed to so you're not wasting your time driving over to houses and coming home without the deal signed. If you're going to meet the homeowner to sign the agreements, it should be a formality at that point. Ten minutes and you're outta there. You are not going over there to sell the deal. That's been done already.

 

The other question is, what if the owner still wants to market their house while you are? I’m imagining two ads in Craigslist for the same house by two different people. Or two signs in the yard. (I’m exaggerating a bit here). I know you can set up the agreement to be non-exclusive. However, how does this usually play out?

Obviously, we always want to have the homeowner step aside and let us do our thing unfettered. We are, after all, working for them, not competing against them. And it's important to point this out to them. If they insist on doing their own thing, you'll need to be a better marketer. Not a difficult thing, by the way, compared to the typical homeowner. If you can, at least add a cancellation clause of some kind into the deal that requires some sort of fee be paid to you for your time and efforts. That's only fair.