Posted by Matt B on April 25, 1999 at 09:27:32:
My “we buy houses” ad contains “we take over payments. no equity/no problem”. This seems to have yeilded the most l/o candidates. I will answer the phone or have voice mail take the call.
I hate to brag… but I got ANOTHER lease option - Posted by Matt B
Posted by Matt B on April 25, 1999 at 08:45:20:
Holy heck, have the deals been rolling in! This time I got a nice, high end house. A woman called me on my ad and told me that her and her husband had bought a “big” house in the city last year. They also currently have another big house in the country, but had planned to move to the city. Well, her husband took an early retirement, and they decided to stay in the country.
Here’s the numbers…
House appraised for $130,000 when they bought it. They have since gutted and updated the kitchen, both bathrooms, (it’s a 4 bedroom, 2 bath) recarpeted the 2nd floor, repaired the roof, replaced some windows, refinished the beautiful hardwood floors, etc. They are finishing up one of the bathrooms and one of the bedrooms. (They had ripped up the floor to run cable into the room. The woman had told me that they wanted $130,000 when I talked to her on the phone, but when I met her, that greedy woman bumped it up to $134,000 because she had thought about the expense of adding that big chandelier they had put in, and the beautiful mantle on one of the fireplaces, etc.
I had to resign myself to paying “full retail” again, so I agreed to $134,000. I didn’t really want to try to negotiate with her because she had said that if they didn’t sell the place, they “wouldn’t be heartbroken” since it is such a beautiful house.
When I told some people about the house, they said that it was impossible to get a house in that neighborhood that cheap, and wanted to know what repairs it needed. (Tee hee) I believe I will be charging $160,000 for the house, which I’m beginning to think will still be a bargain. Also, the mortgage payments are $1,000 PITI, which means I can expect a VERY nice spread on payments that I will be charging!
They will have the work done in June, (I love when sellers volunteer to do all the work) and I will have to start paying in July. The woman asked me when I told her that I guarantee payments even if I don’t have anyone in there, “Isn’t that scary?” I tried not laugh since I know that house won’t last a second on the market as a lease option!
I got a key to show it while the repairs are being made, so I’ll have to place an ad this week. This house is so huge and in amazingly good shape for having been built in the 1800s.
So what’s everyone else waiting for? Oh, yeah, it can’t be done where you live. Market’s not right for that. Or maybe it’s illegal. It’s just so much easier to go to work every day, isn’t it? None of the hassles that financial freedom gives you.
I gotta ask… - Posted by Chris Spohr, IL
Posted by Chris Spohr, IL on April 26, 1999 at 13:56:04:
Matt,
I’ve been following your posts on CREOL - Great Job!
I have L/O’s ala LeGrand style. But, since we all want to be as effective as possible, I have to ask - can I have a copy of your ad?
Thanks,
Chris Spohr
PS It WILL work where I live! Heh, heh, heh…
To: Matt - Posted by Nick
Posted by Nick on April 25, 1999 at 09:57:18:
Hello Matt;
Which course did you buy? Was it from Legrand? Or
was it from Joe Kaiser?
Re: I hate to brag… but I got ANOTHER lease option - Posted by Greg W
Posted by Greg W on April 25, 1999 at 09:00:59:
Matt ,
What type of ad do you run. I just finished the Lagrand course and would like to start looking for l/o. Do you screen your calls with a service or have them come to your house on an answering machine? Thanks for any help you or anyone else has to offer on l/o.
Re: To: Matt - Posted by Matt B
Posted by Matt B on April 25, 1999 at 13:30:46:
I bought Ron’s “Quick Turn” course a while ago, then his “Cash Flow” series at the convention.