All Forum Posts by: Brian Gibbons

@Alisha Mingus

I talked to a Raleigh NC attorney a few months back who does Sub 2 for her real estate clients, she says judges hate lease options

Think lease purchase in NC or lease with ROFR

I am a big believer in JVs with Builders and Home Owners.

It is all in how you sell it and structure the deal.

Maybe @Bill Gulley

@Brian Burke

@Bryan Hancock

@Will Barnard

can chime in.

@Shawn Holsapple

That is awesome list!

Here are some other books not in your list...many have not seen them...

http://www.biggerpockets.com/blogs/3/blog_posts/45...

Do not read those books unless you want private money and impress your sellers!  :)

@Bill Gulley

Love that!

You remind me of my Senior Drill Instructor, SSGT Carey in Parris Island, SC; he was not the loudest, but the most capable, most brave and most devoted to make sure we received the best training.

See your CPA too.

You might want to go in for a tax check up on everything

@amanda Han 

@Shawn Holsapple

Is your coach in Indy

Thanks, @Frankie Woods

When newbies send out letters and they do not know what to say, when to say,  and how to say it to home sellers, they are wasting money and time.

Dont be a One Trick Pony, 

Be a Transaction Engineer. :)

Like @Ned Carey said

Talk to the Church, what use?

"What can we do to help the congregation?"

Long term lease purchase might be a good thing.

I am Brian Gibbons

Thanks @Rick H.

I have listened to perhaps 300 speakers in my 30 years of real estate investing.  Some are free, some are nominal under $50, some are in the $500 to $2000 range.

Some are terrible.  Some never get to the point. Some are in love with themselves.  Some know they are talking about but can not teach.  Some are wonderful people but are regurgitating other people's training.  And some disregard local laws, like real estate brokering laws.

My favorite capable TRAINERS are:

The Late Jack Miller Cashflowdepot

Peter Fortunato peterfortunato.com 

John Schaub johnschaub.com

Dyches Boddiford assets101.com

David Tilney davidtilney.com

Thomas Lucier

Mark Warda JD

The Late Barney Zick

On BP the ones I listen to with utmost attention and care are Rick Harmon, @Ellis San Jose, @Bill Tan, @Bill Gulley, @Account Closed, @Dion DePaoli, @Ken Rishel, @Terry Lewis,  @Amanda Han, @Dev Horn, @Jerry Puckett, @Michael Quarles

You would be well served to see the above list of speakers and follow the BP members listed.

There is so much NOISE in the real estate investment space, so much pompous promotion, and there is so little real education, acute training, and true value. with the vast majority of the promoters.

From my CPA

STRATEGIES TO AVOID RECHARACTERIZATION OF A SALE:

Where the parties want to avoid having the lease/option recharacterized as a sale, the overall planning strategy is to avoid or minimize the above indicators of a deemed sale as follows:

1. The rent should be at or near fair rental value. Breece Veneer & Panel Co., 232 F .2d 319.

Get a written opinion of the rental value from a qualified real estate professional.

2. Keep rent credits toward the option price to a minimum.

Generally, 20% or less is considered reasonable.

3. The option price should be at or near fair market value.

Get a written opinion of the market value from a qualified real estate professional.

Breece Veneer & Panel Co., Ibid.

4. Try not to tie-in substantial lessee improvements with the option exercise.

5. Do not pass legal (or equitable) title to the optionee\lessee\buyer.

6. Demonstrate that you intend to do a lease-option and that you believe the rent and option price to be reasonable. See Benton, 197 F.2d, 745; Lester, 32 TC, 711.

Use arm's length lease-option documents along with the counsel of qualified professionals.

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Dodd Frank, TILA-RESPA, SAFE ACT, etc, are not the IRS.

Apples and Oranges.

@Bill Gulley