I sent out some Emails to sellers...

9 Replies

I sent an email that said. "Let me ask you this. If I could get you full asking price, guaranteed rent to cover your mortgage, have all your maintenance taken care of and purchase your home in 12-24 months. Would that interest you?"

The response I received?

"How would you like to handle payment?Do you even know what fair market value is? You have not seen home .. How could you be so bold? Do you know the area ? You are not local"

How would y'all answer that?

I think you're making a big mistake doing what you're doing

Think like the homeowner he has no idea who you are

What if you said something like this instead

"Hi my name is Brian and I'd really like you to consider some kind of a rent to own on your house, would you even consider doing some kind of a rental first and then I'd buy it from you at new appraisal?"

That guru crap of paying all maintenance is wrong, and the IRS will disallow the lease with option to enter into a recharacterized installment sale, in the rent to own business you have to care a lot about the seller doing it the right way.

No offense.

No offense taken. I think if I use your script above they will think I am crazy since my signature on my email says William. Wait, you mean replaced your name to mine lol just a little levity :-)   

How about when they agree and want to move forward. At that point they realize I an not a person wanting to do this for myself, rather for my own business? How do I end up explaining that to them without them freaking?

Again, your point does make real cents and even dollars if I find the right people. :-) 

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Brian,

I tried your approach and got an immediate email from an interested couple. Here is the response...

 "Good evening, William. My name is Michael and I am the home owner. We are willing to consider a rental or a purchase. If you after interested, let's schedule a time for you and your family to come see the home. Best,"

Now realize this is not local. Its actually back in my home town of Jacksonville Fl and I live in Pa now. What do you tell a seller who wants you to come over and check out their home?

Hi @William Sutton  

I coach lease option assignments, sandwiches, sub2, wraps and installment sales, on the buying side.

Lease 2 own  and lease with right of first refusal on the exit.

Doing virtual lease option assignments and sandwiches in florida is not a good idea unless you are licensed.

I know this for a fact, Ron LeGrand says this, unles you have a licensed broker as a Corp officer.

Florida is very strict.

Are you doing Joe Crumps program?

Unless you have a leasing agent to go sell the idea to the home seller, I would stay in PA and talk to home sellers.

@Bill G.  heres another instance.

I wouldn't need to answer those questions because they wouldn't have been asked because I would never send that e mail out in the first place without a license. :)

Sounds like you went to a Ron LeGrand seminar! He's a good guy and I'm sure he means well, but try to stay away from the guru mentality. They promote false truth and false reality. I've come to learn the REAL way that the industry works by aligning myself with individuals who are out there actually making moves on deals and actively pursuing a future in real estate, rather than telling me how big their jet is. I would suggest you go find someone doing what you want to do in your market and follow their lead. Offer a service to them or something that will benefit them, in exchange for knowledge. From my experience, this is the best way to get started in real estate. Or really anything that you want to do in life! 

Then again, I could be completely wrong and someone in your circle may have recommended this method to you haha! If so, please excuse my intrusion!