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Mipopa

Sees property advertised for more money and crazy rent credits

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I'm new. I don't get it.

What do you say when a seller sees that you are advertising their property on craigslist, etc. at higher price with all these rent credits that they can't understand? Also, how can the seller continue trying to sell on their own (non-exclusive) when you and they will be advertising different prices for the same house?

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Hello, Mipopa, and welcome to The Naked Investor.

Assuming you are talking about a Cooperative Assignment, the homeowner shouldn't have any concerns about the advertised purchase price since they have already agreed to the net price,

When they do ask, my answer is that I am allowing room for negotiating so they are assured to receive the net price I promised.

If the deal is a non-exclusive one, I have no problems with different prices. The homeowner is advertising their house for sale. You are advertising their house as a lease option. So of course the prices and terms will be different.

Your concerns are rarely an issue.

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I am talking about a sub lease option I think. Also, can you do sub lease options long distance/virtually or do you only do Cooperative assignments long distance/virtually?

 

OK :D I get what you are saying about the different prices. thanks

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By sub lease option I assume you mean a sandwich lease. I get the sense you are combining features of the sandwich lease and the Cooperative Assignment, which will lead to the confusion.

If you are working a sandwich deal with the homeowner, it can't be non-exclusive, or at least it shouldn't be. The homeowner should understand from the beginning that in exchange for you being his problem free tenant/buyer, making timely payments and accepting responsibility for the property, (no more tenants and toilets!), there must be something in the deal for you, too. Thus, you have a lower rent and purchase price. If the homeowner has agreed to terms previously, then it shouldn't make a difference nor should it be unexpected, that you are charging a higher price to your t/b. If it does, that is simply greed on the homeowner's part.

And, yes, you can certainly do deals at a distance. It's easier to do them locally, of course, especially when starting out, but distance is not an obstacle, what with the information we have available at our fingertips these days.

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Thank you. You make it so clear.

I aim to please. B) Happy to help, so don't hesitate to ask.

How far along are you with your investing, by the way? Sounds like you are just getting started.

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I found your manual sealed in an envelope marked "DO NOT OPEN" at the bottom of a trunk I bought at storage unit auction. I am totally new. So new that now that I'm looking around, I think I should have probably posted my question about marketing in the marketing area of this website forum. :blink: You probably already moved it. I did get two calls from sellers I found on Craigslist. One of them seems like it could work. Exciting and cool stuff. B)

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I found your manual sealed in an envelope marked "DO NOT OPEN" at the bottom of a trunk I bought at storage unit auction.

 

:lol: Now that's funny!

 

I am totally new. So new that now that I'm looking around, I think I should have probably posted my question about marketing in the marketing area of this website forum. :blink: You probably already moved it.

 

Actually, you originally posted in the Marketing forum but I moved it here. Your questions were more about lease purchasing than the specifics of marketing.

 

I did get two calls from sellers I found on Craigslist. One of them seems like it could work. Exciting and cool stuff. B)

 

Already? No moss growing on your backside. B)

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Hi Mipopa, do you really look like your profile pic?

 

if so, then you got a better start in this business than I did.

:lol:

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