Re: Need help with L/O deal… - Posted by Shooter
Posted by Shooter on March 03, 2000 at 20:46:23:
Emmett you can approach this two ways. The first thing I would do is make the seller aware that it is normal practice to make sure the inside area is in good shape before renting, i.e. the painting. However, you will take care of that for him since I’m sure he doesn’t want to do it.
I would handle the cost of painting in one of two ways: 1. Subtract the rent payments from the cost of painting all at once. In that case, you may not owe a rent payment for a few months. 2. Divide the cost of the painting over a 12 month period and reduce the rent by that amount each month.
Remember though, you should be able to receive all of your money spent for the painting from your T/B in the form of their option money.
I agree with the post above that you should not show the place until the inside is in good condition. I wouldn’t worry about the deck, it’s the inside that really matters in most T/B eyes.
Use your sales techniques to show how the seller will benefit from you painting the place and getting him to agree with one of the two options shouldn’t be a problem.
Keep those deals cooking up there in Fayette Nam.