Posted by Valerie on March 29, 1999 at 11:17:02:
Thanks, Russ!!!
L/O - Posted by Valerie
Posted by Valerie on March 29, 1999 at 08:58:28:
I’ve been contacting tired landlords and have received much interest, however, I seem to get tongue tied when it comes to explaining the lease option.
Are most of you just saying:
“I’d like to lease your property for a long term basis (5 years) at X amount per month, with an option to purchase the property in 5 years at X amount of dollars.”
Is it that simple or am I missing something?
Re: L/O - Posted by Rob FL
Posted by Rob FL on March 29, 1999 at 20:59:56:
Just ask them if they are interested in doing a “rent to own.” That is easy to understand.
Re: L/O - Posted by DanM(OR)
Posted by DanM(OR) on March 29, 1999 at 13:59:16:
Valerie,
L/O is a “softsell” to quote Bill Bronchick. One method that he incorporates is to send interested parties a “Special” or “Free” report that details all of the benefits and exactly what you do. I do it also. It’s about 3 pages long and covers all the bases for them in a simple and easy format.
Try it.
Best of Luck!
Dan
P.S. Email me at d j m @bendnet.com (without the spaces) and I’ll email you mine that I am sending out today.
A key point… - Posted by rayrick
Posted by rayrick on March 29, 1999 at 12:46:14:
You don’t want the option to purchase AT THE END of 5 years, you want it ANYTIME DURING the 5 years. Just wanted to make sure you were clear on that.
-Ray
Re: L/O - Posted by Russ Sims
Posted by Russ Sims on March 29, 1999 at 11:05:58:
Generally, it’s better if you can get them to say the numbers first (he/she who speaks first, loses). They might, just might come in at a figure well below what you are willing to pay. The key thing is getting them to understand the concept of a L/O. The numbers can be hashed out later. The following verbage is excerpted from Joe Kaiser’s post card “We’ll lease/option your rental(s) on a long term basis and take care of all of the hard stuff. You just tell us where to mail the monthly rent check”.If they press you on explaining the “option” part, I simply say “In exchange for setting up a long term lease with you, I ask that I be given the option of purchasing the home during the lease term at an agreed upon price”.Well, hope this helps.
Russ