New investor here and been making tons of calls. I've been working this one lead for months. First offered rent to own and she kept saying what if they don't make payments. It takes months to evict etc.
So next I went to a sub2 and felt like I almost showed her the potential value for her (she needs to move asap because her husband has new job) but she said she needs the money to close on her second property.
How do you overcome that objection I get it often - "I need capital to close on next property" or "what if tenant doesn't pay rent"
Any help would be appreciated!
@Arron Lloyd , you need to find a way to solve her problem in a way that helps you as well. She needs capital to close on the next property. How can you make that happen? HML or private money to make a cash offer, maybe.
What is your ultimate goal on this property?
@JaysenMedhurst Ultimately I want it to be my first long term property that I can lease option. Private money may help. I have someone who may partner with me but where is the benefit for him if I would own the property?
@Arron Lloyd , if he’s going to partner with you, then he gets equity. You can negotiate what the right split is depending on what each of you are bringing to the table.
Otherwise, perhaps he’s willing to be the bank and hold the mortgage. That would make you the sole owner.