REAL options - NO crap - Posted by shawn frey

Posted by Jim on April 07, 1999 at 22:32:12:

Ron LeGrand is from Florida and if you read his Lease/Option & Option course you will see how he does it in Florida all the time.

Many times he will get an option on a house and tell the seller if they sell before he does, then nothing lost. But if he sells it before they do, then they must sell at a predetermined price.


REAL options - NO crap - Posted by shawn frey

Posted by shawn frey on April 06, 1999 at 22:24:16:

OK folks, lets get serious. The easiest way to tie up property is with an option to purchase. Forget everything else and do a 6 month option to purchase. Simply pay your option fee - usually less than $100.00 and then sell the option, excercise the option or let it expire. It’s real simple. Remember you don’t need to own anything - just control it. NO bankers, NO idiots and NO crap!

Re: REAL options - NO crap - Posted by Rob FL

Posted by Rob FL on April 07, 1999 at 19:23:31:

Being a Realtor for 4 years and also examining titles for a title company for 6 years, I beg to differ with you. At least here in Florida, the only straight options I have ever seen pulled off successfully are when land developers move in and take an option on a prosepective development site. If they can acquire neighboring property or get the right approvals from the city or things like that then they exercise the option otherwise it becomes a write-off.

I have never seen anyone tie up a property for 6 months using only $100. I have seen it tied up for that long or longer by using a 3-10% non refundable option consideration. For most developers we are talking $10,000 or more.

Of course maybe where you live is a super extreme buyer’s market or something.

Re: ABSOLUTELY!! - Posted by Sheik

Posted by Sheik on April 07, 1999 at 10:21:37:

What you described IS one of the easiest to tie up a property. As to how often one will be able to pull it off is another story.

Not only are you asking this seller to take his/her property off the market for 6mos (and MAYBE) you’ll purchase but you are (have to ) ask for a discount as well (unless, of course, you are running a non-profit company).

I ask you…how many times have you pull this off? 2?..3?..or maybe none!

Your theory (and that’s what it is…Theory) is analogous to saying…It’s easy to become a Millionaire - all you have to do is get a million people to part with $1 which they will give to you (or something like that).

I prefer to go in contract with one contingency clause (which, if you think about it, IS in effect an option to purchase). This will be much more credible in the seller’s eyes. I don’t know about other areas, but where I am, sellers EXPECT that any offer will be contingent on at least an inspection or financing.

Just my $000000.01

Re: REAL options - NO crap - Posted by Reif

Posted by Reif on April 07, 1999 at 24:00:17:

And who exactly is going to let you take their property off the market for six months for $100?


Re: ABSOLUTELY!! - Posted by shawn frey

Posted by shawn frey on April 07, 1999 at 13:05:11:


What’s your number? We need to talk. Our number is 580-480-0017.

We look forward to hearing from you.

Re: REAL options - NO crap - Posted by shawn frey

Posted by shawn frey on April 07, 1999 at 09:10:58:

Happens everday. If you don’t think so simply talk to your banker, loan officer, bank president, wealthy new car dealer. I could go on but I won’t. The people that “make money” are the ones selling. The real estate agent, bank, appraisar, lawyer, insurance agent, and even the city, county and state tax collectors make money – but – the buyer pays(even if you buy for 0 down).

An option to buy is the quickest way to tie up a property. By the way you WONT find out about these techniques in any course - it’s simply NOT available. You have to think and then learn how to apply the information…no guru gives a rat’s ass if you win or lose!

$100 FSBO fee for me + option for free - Posted by leslie dear

Posted by leslie dear on April 07, 1999 at 15:26:54:

They PAY me $100 to “take” an option on their FSBO. They even bring along a photo to post on my wall. I am helpful and give them a contract or form they might need to sell it themself to someone else. I agree to cancel the option if they get a better offer. Who sees these photos? My clients are tenant/buyers looking to lease, or buy if they find they are able. (Side note, Most FSBO people will eventually enlist the service of an agent, lender, etc. and I can get some free lunches.) When my client sees a picure on the wall and wants to know the price and terms I know the answere. I simply (carefully) refer to my option. I’m not an agent of the seller, only a mere investor. Can I go back to the seller and ask for a wee discount or a special term or lease? Like, renegotiate? . A final point, always remember you are asking and dealing only for yourself and don’t attempt, or slip into, speaking for any one but you. That could be considered agency or representation = license.

Re: REAL options - NO crap - Posted by Craig

Posted by Craig on April 07, 1999 at 09:44:40:

I get the feeling you are giving theory just like alot of gurus. I love to hear details of deals you have done this way. The sad thing is that options only work for don’t wanter fixer uppers. There is nothing wrong with that except that it’s gotten to the point that everyone is doing it and the chances of your offer getting accepted over someone elses is not calculatable. It’s gambling. Your only chance is to be the first one with a reasonable offer and hope that no one else talks to the seller in the next few months and makes a better or more solid offer.

Re: $100 FSBO fee for me + option for free - Posted by shawn frey

Posted by shawn frey on April 07, 1999 at 18:21:00:

Leslie, this is a good point. Once you have the option act like the owner. You deal with the buyer as if it’s your property. Excellent post!!

Re: REAL options - NO crap - Posted by shawn frey

Posted by shawn frey on April 07, 1999 at 13:15:27:

If this is gambling then I’ll do it everyday of the week. Also, if someone comes along and makes an offer on the property I ALREADY have an option on the owner knows that I am first in line. This is standard practice and the owners love it!! My options are always for a 6 month period with a standard 6 month extension.

I suggest you get educated. Perhaps we should speak. My number is 580-480-0017, what’s yours?