All Forum Posts by: Misty W.

You'll probably get both answers, but I have our service answer with our company name. They are going to find out you are a company at some point, and they could feel that you have not been forthcoming if it takes too long. I just prefer to be open and honest. They are either motivated or not. The quicker they know I'm an investor, the less time I waste.

I know people that have decided not to mention it and then when it comes up they lose the deal (especially in lease options), so they just wasted 45 minutes talking to someone. I just don't see the point, if they don't want to work with an investor, I want to know immediately. Most will just gloss right over it because you take control of the conversation immediately by asking them questions. They usually don't even remember the name of the company that you said because the conversation moves on so fast.

"Lease Option/Assignments: Option Fee, Option Deposit, Option Consideration,Consideration fee, Assignment Fee, Lease Assignment, Option Assignment"

Okay, so the terms option fee, option consideration, consideration fee and assignment fee are essentially the same thing. It's an assignment fee and an option consideration if you are assigning the option. It's your assignment fee and it's counted as the option consideration when they go to buy the house, meaning it's counted as down payment.

Lease assignment is used when you are assigning your option in a cooperative assignment, same as option assignment.

In a simple cooperative assignment like what I believe John Jackson does and Micheal Carbonare, you sign the option agreement and lease agreement with the owner, then you simply assign both of those to the tenant/buyer you find.

If you are doing a sandwich lease option then you sign an option agreement and lease agreement with the owner, and then a separate option agreement and lease agreement with the tenant/buyer you find, putting you between them.

Yes you should, and it's easy to set up email templates with this information already included so it takes 2 seconds to send out. If you use Gmail you can prepare canned responses, other mail programs have similar setups. I have all of my responses already done, even including marketing replies. I can customize it, but the main information pulls up automatically for me so I'm not typing the same thing over and over.

For a flip for sale, yes it would not be good. For a rental you could probably get away with it.

They can answer phones, return routine calls, schedule meetings, schedule repair people, post ads on craigslist or postlets, create flyers, write articles, prepare mailing lists, pull comps. Just a short list. Depends on what area of investing you do, they could pull credit reports, etc.

A lot of people use VoiceNation.com and I've heard great things and am considering REIOS.com when I separate marketing numbers for buyers and sellers.

Welcome! There are lots of great REI meetings in our area. Check out CAZA and Traction, and there is another one on Meetup.com as well. Some great people there.

We all have fear of failure, so I totally understand. I think one of the best things I ever heard was to do this:

Pick an area you would NEVER invest in - go on Craigslist and start calling FSBO's in that area and just start talking to them, ask about the house, why they are selling, how they came up with the price, what's the lowest they would go, just talk. Since you would NEVER invest there, it doesn't matter what they think of you. It gets you on the phone with sellers and you start to feel comfortable. (Just be careful, I know someone that did this and actually ended up with a deal, lol, the horror!)

Some people just have to jump - otherwise they get stuck reading and learning forever. If you can't push yourself to do that, find another local investor that will let you learn by their side. Offer to split deal you bring so you can focus on the first part, finding motivated sellers, while learning the rest.

If you aren't willing do to LO's, look for someone to partner with that is - it gives you someone to send leads to that aren't good for you at that time, the homeowner feels like you are trying to help rather than pushing them off the phone, and the partner pays you a referral fee if they get a contract so you get your marketing paid for. That's why I partner with wholesalers, there is no reason those leads should die, if they are motivated but you don't want to do the solution they need, know someone that is! If you only have one exit strategy for a lead it takes a lot longer to get a deal.