timmym22 0 Report post Posted July 27, 2009 hey everyone, I am just wondering if it is possible to make around 4k a month just doing CA's? Are any of you making at least that much right now? How many CA's are you doing a month? I know it depends on where you live, but I just want to focus on CA's. I have a website where I can post pictures and details of each property. I currently have a database of tenant buyers that are looking to get into a rent to own situation. Should i contact homeowners and tell them i have 10 people with anywhere from 3k-5k to put down, looking to get into a property like theirs? how much time on average does this take you?thanks Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 27, 2009 I am just wondering if it is possible to make around 4k a month just doing CA's?Possible, and not especially difficult. Figure conservatively that you will receive 2% of the purchase price as option consideration. If the median price in your area is $200K, there's your $4K in one month. And that's one deal. Can you do another? I currently have a database of tenant buyers that are looking to get into a rent to own situation. Should i contact homeowners and tell them i have 10 people with anywhere from 3k-5k to put down, looking to get into a property like theirs?Yes. by all means give local FSBO's a call. How else will you find deals? But don't talk to them about "3k-5k to put down". If you do, their expectations will be that is going in their pockets, not your's. Share this post Link to post Share on other sites
Mr Investor 0 Report post Posted July 27, 2009 Work hard at it and it's feasible. Share this post Link to post Share on other sites
aaronj231 0 Report post Posted July 27, 2009 Work hard at it and it's feasible. Working hard and I think $25,000 a month is feasible. Thats only 5 assignments at $4000 each I know its possible because I have done it. That was a good month of course but I think you can easily average 5-10K. Share this post Link to post Share on other sites
timmym22 0 Report post Posted July 27, 2009 how many hours do you guys put it a week making 10k a month? lets say about 3 CA's a month. I have done 1 CA so far on the side, made $1500 for 3 hours of work. so i am thinking it should not be too hard to make at least 4k a month. How do you guys prequalify the tenant buyers? I put ads on craiglist with a link to my website, on my website i have a picture slideshow and an audio describing the details of the property. what steps do you take from here? 1. do you have them fill out the application before you even show the property?2. if your pulling credit have them pay you an application fee first before you show them? I want to be very efficient with my time, i do not want to waste my time with tire kickers. any suggestions? please identify exaclty what you do from start to finish in the qualifying/showing aspect of thingsthanks Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 28, 2009 how many hours do you guys put it a week making 10k a month? lets say about 3 CA's a month.Everyone is different. You may bust it for a small deal, or you may coast and find yourself the recipient of that $10K in one deal. Don't be too concerned what others are doing, Tim. You'll get into your groove and figure out what works for you. T/b's fill out my application after they have seen the inside of the property and have expressed an interest. But before I even meet them there we have spoken on the phone and they have a thorough understanding of how my Rent To Own works and the cash that is required to move in. I also require they drive by the property first so they can scout out the area and the outside of the property. Makes no sense to show them the inside if they hate the exterior and the neighborhood.And, yes, I collect a $20 per person application fee when they return the completed app back to me. Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted July 28, 2009 MC are you running credit for CA's? If not then why the application fee since you are letting the seller approve or are you approving? Just curious. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 29, 2009 Rex, I prefer to have the homeowner be as hands on as possible, making me as hands off as possible. However, sometimes the homeowner will request or need me to hold their hand a bit more. And if that means pulling a credit report, I'm fine with that and I charge the applicant $20 per. But then that report goes to the homeowner who has the full say as to whether or not the applicant is approved. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 29, 2009 Average CA from "Hi, I'm calling about the house" to "Thanks for the check, nice knowing you" is 5 hours. This included all driving time etc.Most I've done was I closed 5 deals in 9 days. (posted about it a couple of years ago)Can it be done? If you're blind falling down a flight of stairs!Can it be done in our current economy? I'd do a CA over a lease option any day of the week and yes, now's the time!Just my two cents,AdamPS Could someone please take this "certified hunk" status off my name before I get hit on again? Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted July 29, 2009 PS Could someone please take this "certified hunk" status off my name before I get hit on again? Per forum policy, you must be more active amongst the boards to make sucha request. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 29, 2009 PS Could someone please take this "certified hunk" status off my name before I get hit on again? Sure thing, Adam. Consider it done. PS Could someone please take this "certified hunk" status off my name before I get hit on again? Per forum policy, you must be more active amongst the boards to make sucha request. Rumor has it he's being kept on a short leash, as his new title indicates. . . Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 29, 2009 Rumor has it he's being kept on a short leash, as his new title indicates. . .Man, you gotta be careful what you wish for around here....sheesh... Share this post Link to post Share on other sites
bwalston 1 Report post Posted August 1, 2009 Rumor has it he's being kept on a short leash, as his new title indicates. . .Man, you gotta be careful what you wish for around here....sheesh... But, as my ole gran'daddy always used to say, "son, it don't matter being henpecked, just as long as ya like the hen that's doin' the peckin'!!" Share this post Link to post Share on other sites
Guest Diver Report post Posted August 1, 2009 Dam, Well I guess you should rename me Hen Pecked Husband #2 because the last time I talked to Adam my wifes rooster was going off in the background and he got a big laugh out of it. I had to give up somewhere or she was going to get a horse. Diver Share this post Link to post Share on other sites
Guest jvmccall Report post Posted August 2, 2009 When I was working at my full-time job (which I left 2 weeks ago b/c my investing income was surpassing my full-time income) I was doing 2-3 CA's a month and making an average of $10k a month. The key? MARKETING and TALKING TO SELLERS. Share this post Link to post Share on other sites
