who to contact and what to say

[Cecelia Mitchell]

Good morning I am in search of my first deal.  I own my primary residence, have great credit but not enough down payment.  I found a good rental property in the #1 school district here in GA.  It is for sale has been on the market 42 days with a price reduction.  I want to find out if the owner would do a lease purchase deal.  I have the agent's and the owner's  phone numbers.  Who do I call? What should I say?  Any advice on how to approach this greatly appreciated.  Thanks for your response.

[Brian Gibbons]

Can you pay the agent 3%?

If you can, knock on the sellers door with a letter of introduction, saying a paragraph of who you are, what you do, what is family life, why you want that neighborhood, why and how yop  will pay market rent on a lease purchase, why you will get a mortgage soon, (I would go to a mortgage originator and get a letter from him-her)

then ask for a viewing of the property with sellers agent.

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If you can not afford the 3%, wait and see if it gets expired, keep sending post cards to the seller, no email or phone.

DO NOT talk to the agent first.  They are deal killers on Lease Purchase.

There is a thread here on how to negotiate with sellers.

http://www.biggerpockets.com/forums/83/topics/2142...