Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
<Steve>

Application Questionnaire

Recommended Posts

Here is a questionnaire I am going to start including with the application when marketing for tenant/buyers. The real reason I am giving this a try is at best to see if any potential tenant/buyer has a plan in place to purchase a property and at worst see if they are willing to start a purchase plan with a recommended mortgage broker.

 

I just wanted to give this a try and I am sure questions will be added or modified. Let me know what you guys think or anything I should add or change. My goal is while marketing for tenant/buyers to place those who really want to work in purchasing the property. Maybe putting it on paper will help more than just a conversation.

 

.pdf format

LeaseApplicationQuestionnaire.pdf

Share this post


Link to post
Share on other sites

Steve, I like it. Even though the doc isn't breaking any new ground, and it is repeating what you have probably already verbalized, I think having it in writing makes the concept of a lease purchase more "real" to the t/b. I see no downside to using this approach. I say let's give it a run.

Share this post


Link to post
Share on other sites

Thanks for the review MC.

 

For those potential tenant/buyers that do not have a plan of action in purchasing up front and not so perfect credit, I am going to push that they consult with my mortgage broker before a commitment is made by signing the agreements. Then I can get with the mort. broker and get his take on their potential to buy and time frame.

Share this post


Link to post
Share on other sites

Chris-

 

Yes, sure you can use it. I just started using it for the past couple of weeks. And I do get different answers form different tenant/buyers. It will probably me modified as I go along.

Share this post


Link to post
Share on other sites

Hey Steve, this questionnaire looks great. Are you still using it and how do T/B's like it? How did you find your mortgage broker, I need one. What kind of CL ad would you run if you needed one?

Share this post


Link to post
Share on other sites

Hey Scotty-

 

Yes, I am using the application questionnaire. When I meet a tenant/buyer for the first time and show them the house my approach is let them fall in love with the house and feel comfortable to say whatever they want. Every tenant/buyer has a story and I need to hear it to see if they will be a good fit for the house & seller. I may touch on some of the questions of the questionnaire, but I don’t put the tenant/buyer under the spot light on the first meeting. The questionnaire has been helpful in getting additional info. from the tenant/buyer I may not have otherwise or forgot to ask. Something about putting it down on paper seems to reinforce and make real that they need to qualify and have the potential to buy in the near future.

 

Regarding lenders, I have worked with many different lenders. A couple of lenders I started working with was after doing a L/O of their property. I met one at my kids baseball game. Another was from a SLO that sold and I came in contact with the t/b’s lender. One was a friend of the seller on a CA. Some cold call me on the phone. Right now lenders are starving for deals and many of the knuckle heads that were out there are gone, so those who have survived are very knowledgeable and go the extra mile in helping me help the tenant/buyer.

Share this post


Link to post
Share on other sites

×
×
  • Create New...