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About salsadunes

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    Making Calls
  1. My goal is to get her below 200k. And sandwich lease it for the income. She is motivated and knows what i do as she is a referal from one of my other deals.There are renters in the two small units w/$900.00 income now. She is moving out of the big one and it will be empty. I do not want to live there. I will meet w/her on Sat to set a deal. Would like to know what you guys would do? Also, a pure option? Would that come into play? Thanks All.
  2. Hi Naked investors. Im working on a deal and would like your inputs. One seller of two properties. 3/2 with large metal building and a 2/1 rental on the same tax lot Then connected to the property is another 1/1 cabin on ao different tax lot. She wantes to sell both together she owns free and clear. The smaller units are rented the 3/2 she is moving out of. Comps are 160 w/out rental on big place and approximately 70k on cabin unit. She wants 215k for both. She will carry for 3years and will be moved by sept 1. How would u structure this one? Would a pure option work? How do I secure both properties? Thanks in advance. Salsa
  3. Well been working like crazy to get sellers. Have this one now where they are getting a divorce. Both on title etc. He is on board as they have paid the mortgagae for three months on a vacant house and now and wants it off his plate. She is scepticle about the lease option. Shes getting opinions from friends. (Who dont know) Met with them both as they are still living together, and all seems ok. So the question is do i try and play ball with them when the team is splitting up? If so, what are the cover my @$$ things to do? If not, how should i proceed with them? Why is divorce so expensive? Because it's worth it. I guess......
  4. There are three documents to complete a CA: the CA Residential Lease Agreement, the Option to Purchase Agreement, and the CA Assignment Agreement. If you have any questions about this, email me directly. It's important you use the correct paperwork for the deal you are doing. And, no, the agreements do not need to be notarized. Regarding the commercial building, I don't see any lease purchase deal there. If I'm understanding things, she is asking for $160K option consideration? That's more than 30%. You'll never find a t/b willing to put down that kind of cash. Nice to hear that the option $ is way to much. I beleive the same thing. Now she has no real clue and is just throwing numbers out as a want not a need. Can you give me your thoughts on what you would see as practicle? Again, she has no clue. I have just a little more then her, so your thoughtss are my guiding light.
  5. Absolutely. You become a principal in the deal with the right to assign. As for the commercial property, can you be more specific? What type of property is it? Any numbers or details you can elaborate on? Ok, so what form do i have her sign for the ca? And do i need it notorized? This then gives me the right i need to market etc? The numbers on the commercial are. She wants $499,000 for the building. She wants $160K down and will carry for as long as 24 months. With pmts of $1,600 a month aprox 6%. The building has multiple tennants and has room for more. Office space etc. The income it gets right now is $3,000 mo. She says the city has expressed interest and would like me to help her present a lease purchase offer. The building is actually the old city hall building, if that make a difference.
  6. Hello, ladies and gents. I have a client who has a residential home and im talking to her about a ca. She also has a commercial property that she wants to put together a deal on. Im wondering if the scenarios are going to work the same way? I do have the MC agreements and program. But, not for sure how this would all play out for a commercail property. Now, with the ca what exact form would i need, and do i need notorization on any of them? This would be my first ca. And with the ca all signed and accounted for that gives me the right to market and get a buyer? Im learning as i go, with all of your help of course.
  7. The employer says a lo contract will not work for them. They are requiring a purchase agreement for then to release the money. I have it set up as a slo with the owner. Can I make it happen with a sko contract?
  8. Ok. On this deal I have a tb who needs to pull out of his 401k for the down pmt. But his employer needs a purchase agreement for it to fit their guidelines. Can I make it happen with this being a slo? If so what do I need to do? He is totally wanting in the home and will do what it takes. Will be reading and learning. Thanks again.
  9. Hello naked Investors. Been dilligently working and getting close to having a seller on board. I would like to confirm the correct way to proceed. Seller is selling to me on a lease with option to purchase. So i need a lease and a lease with option to purchase signed? And a memorandum notorized? Now when i get a t/b, I will need a lease with option to purchase only? Is this correct? Thanks Again..
  10. Now, im still not getting it. Since i wrote on it is it me? Or is it where i got the form from? I had it thrown at me is why im asking. How would you explain it? Thanks Again
  11. Hey Guy's, Im wondering what this part is actually saying? Who is the preparer? And for b can you give me an example of what would be put in here? 26. PREPARER’S DISCLAIMER: All of the undersigned parties agree not to hold the preparer of this document liable for any errors, omissions, mistakes or negligence. The closing costs shall be those incurred in conjunction with closing escrow and shall be paid at the close of escrow as follows: ___________________________. Thanks
  12. OK, Here is the latest on this one. Iv dropped it like it was hot, since my last post. The Lady has called me back and has now given the people there momey back witht he pomise they would move out. Well they got the money ran in the house and locked the door. The lady has no ability to deal with these losers. They are loud and controling. And now have there monies back and still refuse to get out. My question is can i make a deal with her to get control of the property, that would allow me to take the steps to evict them? There would be no monies exchanged as i will not give up dollars for the deal until there out, and i find a buyer. She is sincere and has talked to a lawyer. He sent a letter demanding the house back. They agreed to move with the monies being returned. But did not move. Would llike to make this a deal. But of course this is my business not a soup kitchen. Will be looking for your thoughts. Salsa.
  13. I have a seller who has agreed to my short form terms. Now, im looking to send him the full lease option terms. And im wondering when do i send him my $10.00 for my vested interest? Thanks
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