Posted by Kevin(OK) on April 19, 1999 at 10:50:33:
I just finished Joe K.'s L/O course, and this is a strategy he said to use. In fact, I just sent a $400 check to an out of town homeowner, of course I wrote on it “rent for May, 1999 and the properties address”. If they cash this wont they have to give me posession of the property? Help?
Thanks!
Kevin(OK)
Lease Options questions/Joe Kaiser & Russ Sims & others. - Posted by Lonnie Turner
Posted by Lonnie Turner on April 19, 1999 at 24:04:56:
Here they are:
1). Does a Lease/Purchase agreement obligates you to purchase? I read a article on a site that says a lease/purchase agreement obligates you to purchase & a lease/option does not. I live in Washington State.
2). I have talked to several FSBO’s & most were fairly motivated but none of them wanted to do a lease option deal. Should I send them a report to try and change there mines or should I go to the next one?
Any answers & suggestions will be greatly appreciated. Thanks in advance everyone.
Russ,
Are you still looking to start a investment club in Tacoma?
Re: Lease Options questions/Joe Kaiser & Russ Sims & others. - Posted by Russ Sims
Posted by Russ Sims on April 19, 1999 at 11:18:17:
Hi Lonnie:
I’d just like to get together with fellow investors. If it developes into a club, great. I know of a handful of other like minded Puget Sound investors. I’ve just been too busy to try and organize something! Anyone interested should contact me. I’m keeping a database of all interested souls and I WILL contact you at some point to arrange a get-together. In the mean time Lonnie, buz me next time you’re in Tacoma and we’ll grab some coffee. You still have my number?
Russ Sims
Re: Lease Options questions/Joe Kaiser & Russ Sims & others. - Posted by Kevin(OK)
Posted by Kevin(OK) on April 19, 1999 at 04:39:48:
Send them your offer with a check for the option consideration and the first months rent. That way they will have to think twice about tearing up your check.
Good Luck!
Kevin(OK)
Re: Lease Options questions/Joe Kaiser & Russ Sims & others. - Posted by Lonnie Turner
Posted by Lonnie Turner on April 19, 1999 at 20:26:38:
I do not have your # but I see it every Sunday in the newspaper. I am guessing you do this full time since you are snagging up all those good properties.
Re: Lease Options questions/Joe Kaiser & Russ Sims & others. - Posted by Bud Branstetter
Posted by Bud Branstetter on April 19, 1999 at 10:16:26:
I don’t believe the check approach was a valid cashable check. If it were he could cash it and owe you nothing because there is no legal signed agreement.
Not everyone will do a L/O. Many times it is because the people do not know how to explain the concept and overcome objections. Some times it is because the people just don’t want to do it that way. Not knowing what the people’s circumstances were that Russ referenced makes it difficult to know what an alternative might be.
Hmmm…? - Posted by Frank [Pgh PA]
Posted by Frank [Pgh PA] on April 19, 1999 at 07:53:11:
Seems to me I heard that somewhere before…could it have been from Joe Kaiser’s “Ultimate Lease Option Strategy?”