Lease Marketing - Posted by Scott

Posted by PBoone on January 18, 2000 at 17:50:13:

Why not lease the house to someone who has little money and add an amount to each months payment
Pat

Lease Marketing - Posted by Scott

Posted by Scott on January 18, 2000 at 16:18:20:

I have been trying to do a lease option deal for the past month. The problem is all of the tenant buyers don’t have
any $$ to put down, or can’t afford the monthly payments.
The house is appraised at $70,000 and the seller is willing to sell for $56,000 which is the balance of loan. The payments are about $600 a month. I have put in several
ads in the paper “Rent to Own” and “Owner Financing”. Is
there something I am missing here? How do I get the attention of people that have money?
Any info would be greatly appreciated.

P.S. I am pretty anxious to get this deal done, as this would be my first one.

Thanks for the Info! - Posted by Scott

Posted by Scott on January 18, 2000 at 20:58:58:

As usual, some great advice that I will put to use

Re: Lease Marketing - Posted by chris

Posted by chris on January 18, 2000 at 19:23:35:

Consider putting up some “bandit” signs in the area to grab attention to your property.

“RENT TO OWN CREDIT PROBLEMS OK”

-Chris

Re: Lease Marketing - Posted by Russ Sims

Posted by Russ Sims on January 18, 2000 at 18:30:18:

If you aren’t already, use the words: “bad credit OK,” or “challenging credit OK” or “will consider poor credit”.Every time I use those words in an ad my phone rings about 50% more…and these are often people with money who had assumed their credit was too poor to work with. If you’ve been advertising in the “homes for sale” section, try the “homes for rent” section or visa versa. Also, if your house is vacant, say it is available immediately in your ad. This won’t guarantee people with money will call, but you WILL get more calls altogether, increasing your chances of hitting pay dirt. Try holding an open house, too.

or!!1 - Posted by Lonnie Turner

Posted by Lonnie Turner on January 18, 2000 at 18:04:33:

You can take a note back for the option cosideration with interest & sat on that extra cashflow!