Found A Seller Now What?

[Mr Investor 0]

I did a big email campaign today and I was contacted by a seller who is interested in doing a lease purchase. So how do I approach the seller to do a CA?

[MichaelC 160]

There's no cookie cutter approach. Each homeowner you speak with will have different needs and a different personality. Generally, you'll want to present him with the advantages of the deal you're offering. It's important to be a good listener. Let the homeowner talk and determine what his concerns are, then address them and, again, get back to what's in the deal for him.

[Adam King (MI) 1]

I did a big email campaign today and I was contacted by a seller who is interested in doing a lease purchase. So how do I approach the seller to do a CA?

 

As well as MC's advice, a simple "turn the tables from LO to CA" approach is easy when you base it on the numbers. For example, if there's no equity it's a lot easier of a sale to say something like this;

 

Mr and/or Mrs seller. First off, the house is great but as you know the economy has creamed our equity, not to mention the banks getting bailed out and dumping their inventory for next to nothing. This has brought the market down even more. However, this doesn't mean there aren't solutions. Since you're already motivated to do terms such as rent to own, that's a smart move and a good solution to your problem. However, (once again) because of the lack of equity caused by the economy/bailout etc, there's not enough room for me, but that doesn't mean I still can't help you.

 

Que CA discussion with the same benefits, but now with your help doing the same thing you'd do if you did a LO in the first place.

 

Again, the only reason for doing a CA in the first place is because you have a property that doesn't have enough equity for you to take the liability. However, if you're honest with the seller and mention this point, you'll get 9 out of 10 yesses when it comes to you doing the job they wanted you to do in the first place. Sell/lease their house.

 

Once you have their ear, sell the CA on all of the benefits of a LO as well as your credibility of hiring the best local people to pre-qualify the person that you'll be assigning your interest to. aka the tenant/buyer.

 

Hope that helps,

Adam

PS Yes, I've been in hiding.

[MichaelC 160]

. . .PS Yes, I've been in hiding.

So, just how bad is the food in the Witness Protection Program??

[Adam King (MI) 1]

Not as bad as your lasagna! DOH!!!!! JUST KIDDING JUST KIDDING!!!! :ninja:

[MichaelC 160]

Now you really better be in Witness Protection!

[Adam King (MI) 1]

Now you really better be in Witness Protection!

 

 

Yeah, that one was waaaaaaay below the belt!