how and were do you find sellers interested or OK with doing master lease option, I seen a property for sale but its being listed by an RE agent, is it not OK to pitch master lease to the agent representing the seller? And last what is the best way to look for master lease opportunities.
Thanks for all the advice
I think it's safe to say that most sellers that sell on master lease option, land contracts or other creative ways don't plan to do so until an offer presents itself and makes sense. Therefore any listing owned by a "mom and pop" operation is a good target. I've purchased 13 deals on land contract, most with no cash down. I go into every potential deal with the confidence that I can buy it this way. Obviously though, I avoid larger corporate owners and REO deals.
o OK great insight! Im interested in a 10 unit complex but an agent is showing I don't want to step on his toes, but I don't have no were near the the down payment, I know he's getting a commission.
My target seller/optionor for LOs are sudden transfer folks or tired absentee owners who may have tried to sell through an agent and are now an expired MLS listing. Active MLS properties probably won't work as the amount of option consideration would have to cover the realtor commission +some money for seller. Good idea, wrong seller maybe.
The commission is an obstacle. However I have had multiple deals where the seller brought money to closing or made arrangements to pay some of the commission at a later date on land contract deals where my DP didn't cover the whole thing. Some people will pay out of pocket to unload an unwanted property.
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