Posted by Jack on January 23, 2001 at 11:02:21:
Evidently your mind is in a box. Get out of the box. Forget brokers, bankers, etc. Look for MOTIVATED sellers. Those sellers that are refusing to lease option with you are NOT motivated. And listen closely, motivated sellers don’t grow on trees. You have to search for them. Rejection is just part of the creative financing business. Keep searching until you find one that will be receptive.
Here’s a tip Gary: You have to be a good salesman to put a deal across. By that I mean, understanding your methods, then being able to explain the benefits that will be derived by the seller. You are PRESENTING a WIN-WIN deal for both parties. So Gary, learn to overcome obstacles. Credit rating, income history, etc., is all a bunch of hubba hubba if you know your trade. YOU DON’T NEED IT TO BUY CREATIVELY. Again, look for MOTIVATED sellers. Also, sellers that will carry back 100% financing. Those sellers own the property, or else they do wraparound mortgages. So friend, get out there and give it another try, and another, and another.
Gary, when you make your first purchase, I’ll be looking for your post —Jack