CRE Online Creative ideas contest entries. - Posted by Lee

import · February 28, 1999, 8:08pm

Posted by Ben on March 01, 1999 at 19:23:52:

Thanks Perry, that was very gracious of you. Good Luck in the contest! Ben

import · February 28, 1999, 8:08pm

Posted by Lee on February 28, 1999 at 21:08:40:

I’m in the prosess of sending in my two entries. When I get the next one sent off (to beat the deadline), I will post both of them here.

I CHALLENGE YOU TO DO THE SAME!

Lets judge each other’s ideas.

Lee

import · February 28, 1999, 9:43pm

Here’s my idea - Posted by Ben

Posted by Ben on February 28, 1999 at 22:43:03:

I just pulled off this deal and it worked great. I purchased an older tax sale certificate on the secondary market at a deep discount. I started foreclosure immediately and took title to the property without a hitch. I passed up cash offers from bargain hunters to work with a more motivated but non-conforming buyer who loves the place but could only put up a small downpayment (15%) and who needed seller-carryback financing. Because I gave him an opportunity no one else would, I charged him top dollar for the property and a high interest rate. After the deal was structured orally but not committed to, I posted the note on notenetwork.com. Within 24 hours I had fifteen offers. Now, knowing the note is immediately saleable, I put it in writing, closed the deal and sold the note at closing for the highest offer, which was only $1,000 less than face value. I made top dollar for a property which I only purchased a tax lien on, and at a deep discount to boot!

import · February 28, 1999, 9:43pm

Here’s my idea - Posted by Ben

Posted by Ben on February 28, 1999 at 22:43:03:

I just pulled off this deal and it worked great. I purchased an older tax sale certificate on the secondary market at a deep discount. I started foreclosure immediately and took title to the property without a hitch. I passed up cash offers from bargain hunters to work with a more motivated but non-conforming buyer who loves the place but could only put up a small downpayment (15%) and who needed seller-carryback financing. Because I gave him an opportunity no one else would, I charged him top dollar for the property and a high interest rate. After the deal was structured orally but not committed to, I posted the note on notenetwork.com. Within 24 hours I had fifteen offers. Now, knowing the note is immediately saleable, I put it in writing, closed the deal and sold the note at closing for the highest offer, which was only $1,000 less than face value. I made top dollar for a property which I only purchased a tax lien on, and at a deep discount to boot!

import · February 28, 1999, 9:05pm

Re: CRE Online Creative ideas contest entries. - Posted by Lee

Posted by Lee on February 28, 1999 at 22:05:49:

Here’s my first one.

WIN WIN WINNING WITH TENANTS

When a tenant lets me know they will be moving out before
the end of their lease term, I kindly let them know
that they are responsible for the rent payments until
the end of the lease ( I use a 1 year lease).

They Freak Out!

I propose however, that they find a suitable tenant
(who meets my approval) to take their place in the lease.
THEY frantically (without my knowledge or bother)
contact all of their friends, co-workers, business
associates, aquaintances, fairweather friends and more
than likely, their enemies to get them out of their
“bind”.
( Little do they know, the courts are on their side, most of the time). Usually, they have no problem finding another tenant who does meet my approval.

The result is I get a new tenant (with a new 1 year lease) without any effort-no advertisement expense, almost no time spent dealing with prospective tenants who would call on an advertisement. Since the present tenant wants to get out of the lease they send only “choice” prospective tenants to me for my consideration.

WIN,WIN,WIN…
The present tenant gets to move without a penalty, the future tenant gets a well kept clean home in a desirable area for a reasonable monthly rent and I have No Vacancy, no advertising cost, no cleaning to do and best of all, all three parties are happy.

Sure beats going to Court to try to collect rent that is not due yet!

Lee

aka
SLM10000@aol.com
2/28/1999

import · February 28, 1999, 9:05pm