All Forum Posts by: Account Closed

Thanks for the reply. I was thinking this would be a good thing to remember as an option in case for some reason the subject to deal doesn't work. Thanks, Mike

Also, he first indicated that there was more than one property. How many houses did you buy? Maybe the others can offset the loss of the worst of them?

Thanks, Have you ever done a leas purchase deal, even without the realtor, where you lease purchased a house, then in turn lease purchased it to another party?

Hello,

I am a real estate investor just getting started. I recently read a book that focused on working with Realtors in the area of lease-purchase deals. The idea is that I as the investor would contact Realtors, and ask the agent to provide leads, which would be sellers who have had their home on the market for a while and it hasn't sold. The seller is considering just renting it out. Maybe they don't have to have the proceeds in oredr to get into another house, like they own tow homes, are a landlord, it's a rental house, etc. I do a lease purchase with the seller with me as the lessee. Then I find another buyer who will pay me an option fee up front and also lease purchase the house from me, with me as the lessor. I pay the realtor a commission up front, using in part, the option fee the buyer paid me. The buyer gets credited for the option fee on the back end when they purchase. The commission I pay is also credited to me as a portion of the final sales price when I buy it at the end of the lease.

Does any of this sound plausible, and have any of you done this with investors, especially in a down, buyers market? Thanks for your help, I am trying to think creatively. Mike

Hello,

I am a real estate investor just getting started. I recently read a book that focused on working with Realtors in the area of lease-purchase deals. The idea is that I as the investor would contact Realtors, and ask the agent to provide leads, which would be sellers who have had their home on the market for a while and it hasn't sold. The seller is considering just renting it out. Maybe they don't have to have the proceeds in oredr to get into another house, like they own tow homes, are a landlord, it's a rental house, etc. I do a lease purchase with the seller with me as the lessee. Then I find another buyer who will pay me an option fee up front and also lease purchase the house from me, with me as the lessor. I pay the realtor a commission up front, using in part, the option fee the buyer paid me. The buyer gets credited for the option fee on the back end when they purchase. The commission I pay is also credited to me as a portion of the final sales price when I buy it at the end of the lease.

Does any of this sound plausible, and have any of you done this with investors, especially in a down, buyers market? Thanks for your help, I am trying to think creatively. Mike

Guess I was in the wrong forum to ask that question?

Hello,

I am a real estate investor just getting started. I recently read a book that focused on working with Realtors in the area of lease-purchase deals. The idea is that I as the investor would contact Realtors, and ask the agent to provide leads, which would be sellers who have had their home on the market for a while and it hasn't sold. The seller is considering just renting it out. Maybe they don't have to have the proceeds in oredr to get into another house, like they own tow homes, are a landlord, it's a rental house, etc. I do a lease purchase with the seller with me as the lessee. Then I find another buyer who will pay me an option fee up front and also lease purchase the house from me, with me as the lessor. I pay the realtor a commission up front, using in part, the option fee the buyer paid me. The buyer gets credited for the option fee on the back end when they purchase. The commission I pay is also credited to me as a portion of the final sales price when I buy it at the end of the lease.

Does any of this sound plausible, and have any of you done this with investors, especially in a down, buyers market? Thanks for your help, I am trying to think creatively. Mike

Wholesalepro,

When you say marketing campaign, what exactly do you mean? Bandit signs that lead callers to a recorded message, ads in the paper, ads on internet sites, flyers mailed, handed out? Please explain how you did it that was most successful. Thanks, Mike

I read a few posts from experienced REI's who indicate that it is possible to wholesale properties that are located in other cities, without actually having seen them in the flesh. This was directed to wholesalers who live in small towns and cannot seem to find any wholesale buyers. How is out of town wholesaling possible, unless you have buyers who know that area? And even then, how could you be sure you were not buying in a bad neighborhood or a piece of c___ house? Your rep would quickly go away if you sold a bad wholesale deal to a buyer. I guess you have to have some kind of reliable remote comparables source?

Mike,
Also, I advise that you just read the books and don't jump into any of the mentoring schemes that are offered by the authors, until after you truly feel that you have absorbed knowledge and feel ready to try your hand at REI. At that time you may not really need that mentor, because you would have found others in REI groups or clubs who can act a advisors and mentors for you. Maybe the authors who offer to Mentor you for $5,000 or so are worth it. Has anyone out there tried one and found it to be successful?