The author of the above posting is Jim Mullins; it was posted in late April/early May, and detailed his first deal using L/O’s with a Builder. It turned into a bonanza for him. I would very much like to speak with you, Jim; or the other person you referenced in your posting, Joe Kaiser.
Your assistance for this scared, newbie will be Greatly Appreciated!
All the Best,
Terry L.
email me for my phone/fax numbers, please…
I went into the MLS today and did a search for people that are trying to sell there house and are willing to lease it also. I thought this would be a perfect seller to offer L/O to. Is it a good idea to just have a whole bunch of contracts printed out and make an offer to those people. I also wanted to know how to make an offer when a realtor is involved. Do I have to give earnest money? I’m sure the commission won’t be a problem since the realtor already put notice on the MLS that they would be willing to lease instead of sell. Any suggestions would be greatly appreciated.
Thanks
BTW…What contracts do my fellow Texans use? Are Joes contracts good enough to use? I really don’t want to have to call an attorney.
Posted by Lori Samson on May 18, 2000 at 03:08:09:
If you are planning on using Agents… good luck! I have done over a hundred lease options and I have never had any luck with Agents. If you want to try you can simply submit a letter of intent. Then if you get a hit you can put it on a contract and put down option money not earnest money. Lori