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lhenley

ONLY LP or other things

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Since this is primarily a Lease Purchase investing site, I thought I'd ask the question:

 

Are you ONLY doing Least Purchase deals, or are you also doing other type deals? If you are working others beside LP, what are you doing?

 

Thanks,

 

Lynn (FL)

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The majority of my deals are CA's. They are relatively easy to get a homeowner to agree to, for all the reasons that have been discussed here on numerous previous occasions. But, when a CA won't work for any reason, I'm open to other approaches. Be it a good buy and hold property, a fixer, buy for cash at a discount and flip it, etc. Let the property and the numbers decide your approach, Lynn.

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Michael,

 

In the manual, you primarily teach to market for LP via Craig's List. Do you or have you ever done any direct mail for Lease Purchase deals? I have a Realtor who furnishes me with the MLS Expireds each week. I don't seem to have much response when I mail a post card asking if they'd consider doing a LP. I do get a fairly good response when I send a general "I want to buy your house..." post card, but then I have to weed thru all the "junk".

 

Just trying to find a way to work smarter, and not necessarily harder.

 

Lynn

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To me I have not had any luck on advertising on CL. I know some people cold call. I prefer the mail. But I think anyone doing CA/LP the best and direct method is CALL. When a lead comes into me I will try to make the lead work however it will work as an investment. One thing that I do that some investors cannot do is that if I cannot buy the home I will LIST it as a real estate agent. The main reason is that when that LEAD comes in the door it cost you MONEY.

 

I am getting ready to launch my newest direct mail. Post cards have seem to slip along with my greeting cards for geographic mailing and some demograhic. I have heard some investors having great results with this YELLOW LETTER.

 

So even though you may have had a junk lead, you can turn that lead to some MONEY. SELL it to your realtor?

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Lynn, I haven't done any mass mailings in quite a while. I do, however, note any FSBO sign and Realtor signs on properties as I'm driving. When I return to my office I verify who the homeowner is and send them a letter asking if they would be interested in a lease purchase, with a few bullet points highlighting the advantages of doing so. The response rate has always been pretty favorable, as most people can't sell these days as quickly as they'd like and they always blame their Realtor. :) So my contacting them often results in a phone call.

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I do, however, note any FSBO sign and Realtor signs on properties as I'm driving. When I return to my office I verify who the homeowner is and send them a letter asking if they would be interested in a lease purchase, with a few bullet points highlighting the advantages of doing so. The response rate has always been pretty favorable, as most people can't sell these days as quickly as they'd like and they always blame their Realtor. :) So my contacting them often results in a phone call.

I do the same thing when I find yard signs. I send my letter in a handwritten envelope so they don't mistake it for junk mail, but the response rate from my letters has been disappointing. I agree with Rexford that calling on leads is the way to go because the people can't dismiss you as easy and you get immediate results.

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Hey Jonathan, how many of your listings as a realtor do you sell to your own buyer vs. other agents bringing the buyer?

 

Doug, I rarely sell my own listings. Most of the time other agents bring the buyers.

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Doug, I rarely sell my own listings. Most of the time other agents bring the buyers.
Yeah, I was going to say that if all else fails an investor could get an option on the property and look for a cash buyer for a few thousand more like an agent does. But finding retail buyers isn't easy especially when you're known for rent to own or wholesale deals LOL :)

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When I return to my office I verify who the homeowner is and send them a letter asking if they would be interested in a lease purchase, with a few bullet points highlighting the advantages of doing so.

Since when did you start paying for deals. Its only .35 cents but "free is allways better"

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When I return to my office I verify who the homeowner is and send them a letter asking if they would be interested in a lease purchase, with a few bullet points highlighting the advantages of doing so.

Since when did you start paying for deals. Its only .35 cents but "free is allways better"

Actually, it's now .44 I just tack it on to the homeowner's bill and call it a Stimulus Fee. :)

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