Propertymagnets 7 Report post Posted August 21, 2012 Recently a motivated t/b has come into my life. He recently had his home sold in a short sale. He is looking to lease / rent to own a home. He asked me to assist and I am. Over the past month I have talked to an uncounted number of sellers to no avail. Today he found a Rent-to-Own (R2O) company that is advertising a home he is interested in getting. He called me and asked me to get it for him. My question is "what strategy do I use with the R2O company that is advertising the property. Price $229000 / 4br/2bath - 1420 sq.ft. Zero down lease options available, all offers are considered lease option also. He doesn't need me to do this deal, however did call me and ask me to "get it for him". How do I approach the R2O company so I can get some cash out of this, maybe 1% of the purchase price. All thoughts and suggestions are appreciated. Also time os of the essence. Charles Share this post Link to post Share on other sites
ErikOk 10 Report post Posted August 21, 2012 Recently a motivated t/b has come into my life. He recently had his home sold in a short sale. He is looking to lease / rent to own a home. He asked me to assist and I am. Over the past month I have talked to an uncounted number of sellers to no avail. Today he found a Rent-to-Own (R2O) company that is advertising a home he is interested in getting. He called me and asked me to get it for him. My question is "what strategy do I use with the R2O company that is advertising the property. Price $229000 / 4br/2bath - 1420 sq.ft. Zero down lease options available, all offers are considered lease option also. He doesn't need me to do this deal, however did call me and ask me to "get it for him". How do I approach the R2O company so I can get some cash out of this, maybe 1% of the purchase price. All thoughts and suggestions are appreciated. Also time os of the essence. Charles Is this RTO company a brokerage or property management company? Or is it an investor? If it's an investor, possibly you could get paid for marketing using some sort of Joint Venture agreement. Share this post Link to post Share on other sites
DeeLight 8 Report post Posted August 21, 2012 Charles,i agree with Erik about finding out who the R2O company is; I mean, I am a R2O company---of one If someone called me and said "Hey I have a t/b for your prop" I'd be glad to cut him/her some commish oops I mean consideration. Make sure to maintain you t/bs confidence in you being the hero in the deal----heh, can't hurt while you work out the details Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 21, 2012 Charles, good advice has already come your way. But what the hell, it's my board and I'll throw my two cents into the mix. . .Call the company to find out who they are. Be honest and tell them you are an investor and work these lease purchase deals yourself. Explain that you have a t/b in hand who is interested in one of their properties. Ask how you can work together. If they are smart they'll work with you and you'll make something for being so smart. Share this post Link to post Share on other sites
DeeLight 8 Report post Posted August 21, 2012 And wonderful MC, we LOVE your 2 cents----it just puts the Good House Keeping seal of approval on it all :lol: Ok for those youngsters in the group you wouldn't know wth that means. No, wait . . . I don't know wth it means. Some mag from back in the 50s said whether something was deemed good or not. I guess today it would be like a consumers report seal of approval. OMG!!! My age and ADD is showing. The point I was TRYING to make was it's nice to know what Coach thinks from his years in the game. Share this post Link to post Share on other sites
Propertymagnets 7 Report post Posted August 21, 2012 Thanks for the butt-kick MC. I will call and get back to all with the results. Share this post Link to post Share on other sites
DeeLight 8 Report post Posted August 21, 2012 We're counting on that Charles. Really. When we all share we all learn. I can't wait to hear the details Share this post Link to post Share on other sites