Thank You LeaseOptionKing!

Comments(11)

• 
  LeaseOptionKing7th June, 2005

  Ummm, thanks. That was a real feel-good post for me. I appreciate it. Out of the many people here (Mods and otherwise) who selflessly give of their time and effort to assist newbies, each other, and the community as a whole, it is nice to be noticed. Thank you.
  
  _________________
  "A deal is only as good as the quality of your Contracts." --Me[ Edited by LeaseOptionKing on Date 06/12/2005 ]

• 
  LeaseOptionKing7th June, 2005

  You could pay a reasonable amount that is due only once you find a suitable T/B, but ideally you would find people whose main concern is debt relief (that mortgage payment).
  [addsig]

• 
  DonaldTrump7th June, 2005

  Quote:
  On 2005-06-07 10:50, LeaseOptionKing wrote:
  You could pay a reasonable amount that is due only once you find a suitable T/B, but ideally you would find people whose main concern is debt relief (that mortgage payment).
  
  how sould i present offer to the owner. Sould I find out how much he wants for the home,rents etc.

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  LeaseOptionKing7th June, 2005

  First, build a rapport with the Seller. Let them ramble (it shows they are getting comfortable with you). Then ask why they are selling. Some teachers disagree with this question, but for me, it works very well, IF you build rapport first. You are looking for someone who has to deal with a mortgage payment and are feeling the pressure.
  [addsig]

• 
  DonaldTrump7th June, 2005

  Quote:
  On 2005-06-07 19:46, LeaseOptionKing wrote:
  First, build a rapport with the Seller. Let them ramble (it shows they are getting comfortable with you). Then ask why they are selling. Some teachers disagree with this question, but for me, it works very well, IF you build rapport first. You are looking for someone who has to deal with a mortgage payment and are feeling the pressure.
  
  the house is for rent not forsale its been sitting up for rent for 2months. This is my first time doing this. Also sould I find out how much homes are in this area before I call the seller. Where can I get offer to write up if the seller is willing to lease option. Thanks

• 
  jdflybuy21st February, 2005

  Yes, a landlord policy
  Yes
  Yes
  
  JD

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  kenmax21st February, 2005

  the taxes are nego. you can offer to pay them to "sweeten" the deal if you like. or offer to pay them monthly instead of a option payment and ask that a percentage of the lease payment goes toward the principle. there are endless ways. just try and make a contract that meets yours and the sellers needs.....km

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  edmeyer21st February, 2005

  What you are negotiating is the option consideration associated with the option part of the contract. There are almost no rules which is part of the beauty of an option contract. Option consideration can be whatever the optionor and optionee agree upon. If you want to create a "maintenence and repair fund" as part (or all) of your option consideration and this helps close the transaction, then go for it.

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  gbutler21st February, 2005

  Thanks for all the suggestions. This is starting to sound pretty good.
  
  Last question. Where can I find a good lease-option contract form? At least one that I start with and modify as needed.

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  prodigy_2k18th May, 2005

  Yvette, I know exactly what you are saying I want to get involved in tnis so bad. I have a friend in Baltimore, MD who is doing really well. But he went to a 9 mo school that cost a lot but he made it back on his frist deal. I am now intimidated b/c of all of this stuff I read also. It is all a bit overwhelming. Let me know if you found a good source to get started. I am anxious.
  x_trackstar is my name for yahoo. Shoot me an email sometime.

• 
  PBFerrigan7th June, 2005

  Hi Yvette,
  I am wondering if you ever got an answer to your question. How has your L/O business gone so far?
  
  -Peter