A REALTOR TOLD ME.... - Posted by hot-one

Real Estate Investing
1

Posted by Jack-NY on April 13, 2000 at 16:07:58:

This is untrue, Matt is correct, lease/options, or lease/purchases are conducted everyday all around the country. The realtor is either an investor and don’t want you dipping into her pie, or is so nieve that maybe she needs to go back to school to get an education, real estate agents in general are taught by the broker to not get involved with lease option deals because they are either to complicated or they have to wait until the option is exercised to collect there commision. If your going to be successful in this business do not listen to real estate agents, for the most part investors, and appraisers are not well liked in the real estate field.

Jack.

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A REALTOR TOLD ME… - Posted by hot-one

Posted by hot-one on April 13, 2000 at 13:55:02:

Lease Options are not done in Westchester NY.

She said you can’t do that in this part of the country??

what gives?

true or untrue?

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If you think you can or if you think you can’t, you’re right! (nt) - Posted by Paul_NY

Posted by Paul_NY on April 13, 2000 at 22:17:02:

nt

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A Parable About Realtors (long) - Posted by steve

Posted by steve on April 13, 2000 at 17:34:50:

Start with a cage containing five apes. In the cage, hang a banana on a string and put stairs under it. Before long, an ape will go to the stairs and start to climb towards the banana. As soon as he touches the stairs, spray all of the apes with cold water. After a while, another ape makes an attempt with the same result-all the apes are sprayed with cold water.

Turn off the cold water.

If, later, another ape tries to climb the stairs, the other apes will try to prevent it even though no water sprays them.

Now, remove one ape from the cage and replace it with a new one. The new ape sees the banana and wants to climb the stairs. To his horror, all of the other apes attack him. After another attempt and attack, he knows that if he tries to climb the stairs, he will be assaulted.

Next, remove another of the original five apes and replace it with a new one.

The newcomer goes to the stairs and is attacked. The previous newcomer takes part in the punishment with enthusiasm.

Again, replace a third original ape with a new one. The new one makes it to the stairs and is attacked as well.

Two of the four apes that beat him have no idea why they were not permitted to climb the stairs, or why they are participating in the beating of the newest ape.

After replacing the fourth and fifth original apes, all the apes which have been sprayed with cold water have been replaced. Nevertheless, no ape ever again approaches the stairs. Why not?

“Because that’s the way it’s always been around here.”

Sound familiar?

She didn’t say they were ILLEGAL, just they aren’t done. But that doesn’t mean they CAN’T be done.

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Ask For Proof. - Posted by Jim Kennedy - Houston, TX

Posted by Jim Kennedy - Houston, TX on April 13, 2000 at 16:20:36:

Ask the REALTOR® why lease/options can?t be done in Westchester, NY. If the REALTOR® says there is a law prohibiting lease/options, ask for the legal citation. I doubt that the REALTOR® will be able to produce any authoritative documentation supporting the contention that lease/options can?t be done.

Best of Success!!

Jim Kennedy,
Houston, TX

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Re: A REALTOR TOLD ME… - Posted by MDonovan

Posted by MDonovan on April 13, 2000 at 14:36:35:

A lease option is nothing more than 2 agreements. The first is a regular lease. The second is a regular option to buy the property. So if you can’t rent your property, or if you can’t sell an option on your property, then you can’t do a lease option. The only way I know of to prevent someone from doing these things would be either deed restrictions or local laws. I think such laws would be ridiculous; not to mention unconstitutional, so the only possibility is deed restrictions.

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Man, this one was too hard to resist - Posted by Matt B

Posted by Matt B on April 13, 2000 at 14:01:38:

Yes, the realtor is absolutely correct. If I may quote Ron LeGrand here, “This will work in every part of the country except where YOU live!”

I love Realtors! (My apologies to those that I have become friends with. I wasn’t referring to you.)

OK, I was going to let the post go at that, but it wasn’t very helpful. Lease options can be done just about anywhere you have a motivated seller with the right kind of condition. If your realtor says that they aren’t being done there, it is because they don’t know enough about real estate, investing, or having a brain. (Oops, I meant open mind!)