All Forum Posts by: Ben G.

There is no legal minimum or maximum at least not in Indiana.  You need to ask your home owner what they will pay if they sell with a realtor, explain the benefits of doing an lease option with you.  There are benefits right?

If so, explain that they are more than welcome to find a buyer on their own, and that if they do, then they are more than welcome to sell to that buyer without paying you a fee.  However, you need to make sure they realize the value of your service before the question of an option fee and sharing it with them ever comes up.

@Nick Jones  my leads get automatically imported into my Podio Seller Leads App when they call my phone.  I have a different phone number for each marketing campaign. This streamlines the data entry of entering leads and saves me a ton of time.

Search for other BiggerPockets members in your Boston farm area and start networking with them.  I would say that would be the best way to learn:

start here

@Raven Parmer  a good way to determine whether or not a property is a good deal is to start out wholesaling yourself.  With the proper amount of effort you'll learn the numbers that apply to your specific market.  This is something you are going to need to know regardless. If you start out as a wholesaler you are able to learn how to find sellers, how to estimate repairs, determine value, and market properties.

Keep in mind that when wholesaling some deals, the concept of 70% of ARV doesn't apply. Some homes, mostly rentals, strictly sell based on their cap rate or cash on cash return. You will need to calculate cap rate first, to determine what investors will pay for a income property.

This should help: Calculating Cap Rates and Cash on Cash

You need to offer him something of value.  Offer to drive the area and look for vacant properties is just one idea. 

This post should go a long way in helping you find a mentor: A Beginners Guide to Finding a Mentor

Your business plan really depends on your real estate investment strategy that you plan on using.  Do you plan to buy and hold, fix and flip, wholesale, invest in notes, seller finance, what?  If you're unsure, you're in the right place.  

@Sidney Stewart  I think you need a website to not only generate leads, but equally important, to add some form of credibility to your business.   Generating leads via your website takes a ton of work, time, and patience. It also takes money, unless you're going to do it all on your own. 

Leads won't appear overnight, it won't happen in a year, or even a month.  Depending on the amount of hours you put into the writing of articles for your website, it could take a year or longer to start generating traffic via SEO to your site.  

Not sure what he would charge:  Damon Lettich  

Worked on my house.  

Can anyone please recommend both a  Mortgage Loan Originator and Attorney in Indiana or Indianapolis that are well versed in structuring Lease Purchases, Land Contracts, Lease Options, and Wraps?

Much appreciated!