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Hi all; I am trying to get my first deal done here in Columbus. I have a motivated seller who is willing to do a LO or CA. Need to find some buyers; if anyone can help or has a buyers list they are willing to share that would be fantastic! Thanks! Eric

Hi all; I spoke with MC about this and wanted some advice. Anyone in Ohio using the forms supplied by MC? Had any issues or legal concerns? I was wondering if it would be worthwile to have an attorney review them prior to using them for a deal. I appreciate any advice. Also, I have read some advice about setting up an LLC and using prepaid legal or other do it yourself sites. Those pages state (at the bottom in fine print) that they cannot verify/confirm any stability from a legal point of view, aren't individual attorneys, etc. basically stating the documents they are charging for are not binding or worth the same as those done by an attorney face to face. Others have said there are many holes in those documents and to consult an attorney. Still others say they are fine and there is no need to consult an attorney. I was curious as to everyone's experience. Thanks! Eric

I appreciate the help but I also got an error/missing character prompt. Please re-type or help to this link. Thanks again! Eric

Hi all; How is everyone emailing sellers on CL or other sites? Do you have a set form that you can mass mail or do you do them one at a time? Does anyone have a standard form/email I could peruse and modify for my own use? Several posts mention a Lease Purchase Advantage program/document for marketing purposes; is this a form on the site anyone can look at and modify? Thanks again for all the help! Eric

Every deal is different, and everything is negotiable. As a general rule of thumb, I offer as a selling point to the homeowner that alll allowable closing costs will be paid by the buyer. They're happy to hear that and it helps get the deal. Insurance for what? What type of deal are you talking about, and what is your position in the deal? With a Pure Option, no rent credits are in play because there is no rent being paid. It isn't a Lease Option. It is only an option to buy the property at a set price during an agreed to time period.If you're doing a CA, then yes, rent credits are always offered. At least, when I do them. I want to move the property ASAP. That's how we get paid. So offering a generous rent credit makes the phone ring and the emails come in. As an example, if those rents credits total $8K, they would be put on top of the net selling price I have offered the seller. So if the seller has accepted my offer of, say, a net selling price of $200K, I would need to add to that number the $8K in rent credits and the $4K in option money I would be keeping. That's a total of $212K gross asking price. The question you must ask yourself is whether or not that $212K price is market friendly. Michael; Thanks for the follow up. In terms of insurance, I guess I meant for a L/O (sandwich deal). Thanks again. Eric

When doing a L/O, a flip, or a CA, who pays the closing costs? In the forms in the manual, it is blank as to how to structure it and how much is paid, etc. I assume this is negotiable based on your discussions with the seller? Being a buyer's market now, would it be easier to have the seller pay them? How about for CA's? Also, would anyone please advise about what insurance is needed? Property, liability, hazard, title are the ones that I know of: who pays for what? Do you get yourself on the seller's as an additional insured? Extra policies? This is an unrelated question, but when doing a CA or pure option, are you able to offer rent credits to your tenant-buyers? If so how do you structure this for the seller and how does that effect your price? Thanks for all the time to help me out; sorry for the basic questions! Eric

Hi all; When a seller doesn't want to do a L/O but is ok with a CA, how do you set the price for the seller and the buyer? In this market how easy is it to "mark up" the price to the buyer to get your fee? Is it easier for the seller and the buyer to give a little each? Also, when the seller ok's this, do they pull their ads/marketing and then you step in and do all the marketing? Do you both do it? As a newbie, I am worried about pulling that off but am certainly willing to do it. Any suggestions are appreciated. Thanks. Eric

Thanks Michael! Eric

Hi all; How do you find lists to direct mail to? Specifically, finding lists of out of state owners or owners with non-local phone numbers, pre-foreclosures, estates, etc.? I have not had any luck looking for services to locate them, or with title companies. Obviously, I am not looking in the right spots and am too green to know better! Thanks so much for any help. Eric

What sites have you found to be the best for getting business cards from? Thanks. E.

Hi everyone! I am new to the site and to investing in general: I have been soooo impressed with the willingness to help and advise by everyone! Is everyone setting up an LLC for their business? Who do you use to set it up? I have heard about prepaid legal, legalzoom.com, etc. although some say these are not detailed enough to hold up in the real world and to use an attorney? Anyone just use an attorney? I am in Columbus, OH; any recommendations for good attorneys here who can do creative deals, L/O's, etc.? Thanks so much for the help! Eric

Hi all; I am a beginner to the world of L/O's, etc. Would anyone recommend how and where to look to get started on setting up a website, and an answering service for screening calls, setting up appointments, etc.? Also, is there any general software to use to create direct mail letter, bandit signs, and flyers? Thanks so much! Eric

Joe; I am new to the game; hope you are willing to help. How and where do you go about getting a virtual assistant to do the legwork on craigslist for you? Also, how about google ads like you mentioned, ie how does that work? Sorry for asking simple questions, appreciate the help! Eric

I am a newbie and am interested in using the lease option techniques to get started. I purchased the L/O manual from the Naked Investor and greatly enjoyed it. I have started calling owners who are selling/renting their properties. The main issue I am running into is they don't want to have me in the middle (doing a sandwich L/O); many are experienced and tell me why should I be in the middle when they can sell/rent themselves, etc. How does everyone get sellers to buy in to this? Do you tell them up front or simply tell them you want to L/O and then later close with them and a tenant/buyer (the seller will find this out anyway right)? I know finding a true motivated seller is key but those are the initial issues I am seeing. I appreciate any advice; thanks! Eric