romeo 0 Report post Posted August 15, 2010 After reading many posts here for the last couple of months i have decided to take action. I started 2 days ago i have sent about 12 emails on craiglist and now I have 3 interested sellers. My question are 1. should i make an appoinntment with them or should i qualify them over the phone before i meet them? and 2. when we sign the contracts should i give them a copy or no? 3. and the last question is if i market for a tenant/buyer and i find one now but the contract states that the lease term starts in october, do i collect the option fee now or do i wait til october to collect it? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 15, 2010 Hello, romeo, and welcome to The Naked Investor!My question are 1. should i make an appoinntment with them or should i qualify them over the phone before i meet them?No need to meet with the homeowner if they aren't interested in doing business. Who cares about their pretty bedroom decor? Get the specifics of the property, run the comps, and email them a short offer for a CA. 2. when we sign the contracts should i give them a copy or no?Yes. The homeowner will need a copy of the agreements. and the last question is if i market for a tenant/buyer and i find one now but the contract states that the lease term starts in october, do i collect the option fee now or do i wait til october to collect it?You collect the option money when the t/b signs the paperwork, which should be as soon as they decide they want the house. You can't hold a property for two months based on someone telling you they'll take it. Share this post Link to post Share on other sites
zanders 0 Report post Posted August 21, 2010 Congrats on the potential deals off of CL. On your post though #3 Be careful as to how you qualify the tenant buyers. Unless controlling the property and making a small cash flow monthly gain is your main goal, you want to really screen the potential tenant buyers to make sure that they will cash you out as soon as possible. I have found that making sure they will qualify beyond a reasonable doubt, and educating them on why they cannot mess with their credit pays off HUGE. I have it down where almost all of my deals are cashed out within5-6 months (some as little as 45 days). Zanders Share this post Link to post Share on other sites
