Ready, set...Book recommendations for lease options?

9 Replies

Hey BP! Looking for good in depth information on sandwich lease options... books, websites, podcasts or even links to informational threads here in the forum . I’m targeting pre-foreclosures. Thanks in advance for any recommendations! -Anthony

Some of the popular lease option investors and my personal opinion about them:
 

Joe McCall

His automated marketing system is simple yet amazing. I really like how he uses technology to reach his customers.

Thought I never signed up for his program I feel he is a nice guy and can be a good mentor. His Podcast (www.realestatemastery.com) is great and has wealth of knowledge on lease options.


Joe Crump

He is really popular on social media and youtube. Great content and valuable advice from years of experience. I read his books but I didn’t find it very interesting.

Chris Goff
Very detailed youtube video on how to structure and present lease option offers.


Claude Diamond (Amazing on Phone)
He is one of the veteran lease option investors. He is simply amazing on selling over the phone. I read all his books and philosophies of GUTS sales method and its absolutely different from all the other marketing systems. Definitely something you should explore and read more about. He also shares great amount of content on Youtube.

Michael Carbonare - Naked Investor
I have hired Michael as my mentor. He is really smart, experienced and a good guy but unfortunately not great as a teacher
(just my experience).


Wendy Patton
She is doing lease options for a long time now. Great books and content on her website.


You can search for the books of all these teachers online and there are many others as well.
These are some of the popular names but I have read others as well. Let me know if you want the list.

@Abhijeetparihar thank you so much for taking the time with your suggestions and personal takes on the authors!
@AndrewMerriman thank you for your suggestion!
Diving into all content tonight!

@Anthony Graham Wrote this up years ago, still applies today:

RENT TO OWN BUSINESS IN 60 SECONDS

Go to craigslist.org or fsbo.com or whatever and search for houses you like.

Call the number advertised and say this:

"Hi, I'm Doug, I see your house is for sale...would you consider renting it to me for a couple of years and letting me buy it later? You know, like a rent-to-own?"

Roughly 30 out of every 100 people you talk to will say yes. Get off the phone with the other 70 as fast as possible by politely saying: "Thankyouverymuchforyourtime." and hang up (yes run the sentence together like it's a single word).

To the 30 qualified folks say this:

"Awesome. How much rent do you need?"

About 10 or so of those 30 will give you a number you can work with. Get off the phone with the other 20 the same as the 70 above.

To the remaining 10 say this:

"I can come by tonight at 6 or tomorrow at 3 to take a look, which is better for you?"

And finally, once you've got your appointment scheduled, say this:

"Oh yeah, I almost forgot, I'll send over this rent to own agreement I have for you to look over before we meet, what's your email address?"

Don't forget to put your complete offer on the contract before you email it.

If you're picky I can pretty much 100% guarantee you that you will end up with at least 1 signed lease option deal if you do the above. If you're not picky you'll probably end up with 3 or 4.

Now go buy some blank yellow coroplast from a local sign shop and a big fat black permanent marker from an office supply store and write in big letters on the coroplast:

RENT TO OWN
3br 2ba
$2000
555-1234

Stick a bunch of those signs up around the neighborhood where the house is located.

Record this on your voicemail:

Rent to own your dream home with no bank qualifying! 123 Moneytree St. Buckstown, US is a 3 bed 2 bath ranch with ceramic in the entrance and hardwood in the livingroom. New roof, furnace and AC last year. Freshly painted in neutral tones and ready to move in today. You can OWN this home with good credit, bad credit or no credit even if you just started a new job for only $15,000 down and $2,000 per month. Drive by 123 Moneytree St. and if you like the house and the area call me back for an appointment to view."

When you talk to the buyers say this:

"Have you driven by the house? Do you have the $15,000 in your bank right now? Are you comfortable with the $2,000 per month with your current income?"

If their answers to those questions aren't an empathic "YES!" tell them to get back to you when they've done what they need to do.

To the remaining buyers say this:

"I can show you the house at 7 tonight or 4 tomorrow, which is better for you?"

When you have an appointment set say this:

"Please bring your checkbook for the $1,000 deposit to hold the home if you like it. And $50 in cash for each applicant. That would be you and your spouse or any co-signer."

Run your applicants by a mortgage broker to see how much they lied...er...I mean, how long it will take them to get a mortgage. And pick the best one.

Call them back and say:

"Congraulations! The house is yours! I'll need the remaining $14,000 in certified funds by Friday and the $2,000 for your first month's rent by the 1st when we'll meet at the house and you'll get the keys to your new home."

That's it. Deal #1 done. Rinse and repeat.