Advice on Lease/Options - Posted by Robert Rohling


#1

Posted by Brad Crouch on January 15, 1999 at 03:46:07:

Robert,

Both Bill Bronchick and Joe Kaiser have lease option courses. Both contain lease option forms.

As for developing a database of tenant buyers . . . that subject has been talked about quite a bit, here. Some say yes, it’s good to have a database of tenant buyers. But some say “not necessarily”. One of the activities that require a RE license is “finding property for another”. If that is what you are doing, that would seem to be getting close to the line.

It has also been said that the tenant buyer is VERY easy to find, as there are many people who cannot qualify for a conventional homeloan, and the lease option is the only way these folks have to acheive the “American Dream” of home ownership.

It has also been said that if you run an ad that starts with “Rent to Own”, you will get lots of calls.

Joe Kaiser details a method of finding tenant buyers, called “Bingo, Bango, Bongo”. I think that learning this method is worth much more than the entire course costs.

The Bronchick course gives a lot of information about lease options, and should probably be the first one you get. Kaiser’s course also details many aspects of L/O, but assumes you are not a beginner. This course focuses more on finding the motivated sellers that will put you in a position to do some deals. Finding the motivated sellers is generally the hardest part.

These are both great courses and you should get both of them.

Just my $0.02,

Brad


#2

Advice on Lease/Options - Posted by Robert Rohling

Posted by Robert Rohling on January 15, 1999 at 24:14:01:

I am new to the real estate game and would appreciate some advice on how best to get started. I am particularly interested in lease options and assignments of options. I have read the many articles on this site by Claude Diamond, William Bronchick, Joe Kaiser, etc. and my interest has really been peaked. Do I need to first find a property to option or do I need to begin to develop a database of tenant/buyers? Is there a good source for the necessary contracts involved or would I be better suited to consult an attorney to draft a contract for me? Is there a particular course that would be helpful? Any information or motivation would be greatly appreciated.

Thanks,
Robert