Posted by Russ Sims (WA) on January 11, 1999 at 11:45:28:

You can specify in the purchase agreement that the deal closes after you have found a tenant…


Posted by Investor on January 11, 1999 at 09:59:40:

I have a question. I am an investor and Ive been thinking about something. I have seen those programs where people buy to teach them how to invest such as Carlton Sheets and Ive noticed something. They show how to buy property with no money down which is a great thing to know, but lets just say that you do buy this wonderful house with no money down. Now guess what, you have a mortgage that youhave to pay until you get someone in there.

My question to eveyone here is, do you have a way to get someone in the porperty before you buy it, such as a lease option or land contract. Because the way I see it, we ( investors) are not here to create debt, we are here to create profit.

Thanks for you time and remember to keep at it.

Also… - Posted by Rob FL

Posted by Rob FL on January 11, 1999 at 20:23:47:

…in addition to the deferred time frame to make payments. Put a clause in the contract that allows you to advertise and show the property as soon as the contract is signed. Gives you a head start.


Posted by JohnBoy on January 11, 1999 at 12:06:35:

Write up your purchase contract subject to you finding a suitable tenant/buyer.


You are a motivated seller. You’ve tried everything to sell your property with no luck. Now your facing 2 mortgage payments or need to sell for whatever reason. I come along and work out a deal with you to get you out from under that payment.

Lets say we agree on a lease option that I will be subleasing to my tenant/buyer. My contract with you will have a clause in it that states my payments don’t begin until I secure a suitable tenant/buyer. In some cases it might say my payments begin in 60 days from signing the contract.

This gives me at least 60 days to find a tenant/buyer before any payments begin. You the seller will continue to make the payments for the next 2 months or until I secure a tenant/buyer depending on the agreement we made.

If your going to be offering terms such as a lease/option or a contract for deed you should have no problem finding a tenant/buyer with-in 60 days. In most cases you should find one with-in 30 days.

If you agree to start making payments in 60 days or less regardless of whether or not you secure a tenant/buyer and you don’t find a tenant/buyer with-in that time period, well, then you will have to make the payments until you do. But if you buy right and know your market you shouldn’t have a problem finding a tenant/buyer.

If your actually going to be buying the property by putting new financing on it, then close in the begining of the month. Your first mortgage payment wouldn’t be due for almost 60 days which would allow you enough time to find a tenant/buyer.

The key to finding a tenant/buyer in a short period of time is by offering some sort of terms a lot of people can’t get. Such as a lease/option or seller financing. People that couldn’t get a bank loan would be knocking your door down to get the chance of owning a home of their own.

So why would a seller agree to these terms?? The answer is quite simple. They are MOTIVATED to sell!