Taking on properties this time of year - Posted by Bill

Posted by Brent_IL on August 18, 2003 at 08:20:07:

Hi Jim,

Thanks for the correction. Sometimes I know what I’m talking about; sometimes I’m confused. I appreciate it.

You are right, of course. I guess I should have elaborated. What I meant to convey was that L/O or minimal-down purchases that meet a buyer’s needs aren’t always as available as are houses listed on the MLS where sellers want cash-to-mortgage.

While it might take longer to market, I wanted to encourage Bill by pointing out that his sale wasn’t impossible because people will put up with inconvenience to get the deal.


Taking on properties this time of year - Posted by Bill

Posted by Bill on August 17, 2003 at 09:39:48:

I find a property that will vacate on Nov 1. With the holidays do you see that as a big negative trying to lease option a house starting on Nov 1? I live south of Houston.

Re: Look what my ad did - this time of year - Posted by James Mc (IL)

Posted by James Mc (IL) on August 20, 2003 at 24:43:56:

Available Oct. Must sell owner financing. $2500.00 gets you in. 3/4 bed, 2 fbaths, 2 car attached, deck overlooking woods. xxx-xxxx

I ran it Sunday and Monday for two weeks. Now I have 23 people that are waiting for the right house/deal.

I get calls as late as Wednesday.

They look, they want, they call.

The rest is up to you.

It is true that most families would prefer to move in the summer. But???

James Mc (IL)

Re: Taking on properties this time of year - Posted by Brent_IL

Posted by Brent_IL on August 17, 2003 at 11:45:15:

Renters with children move during the summer months to accommodate the school year. L/O’rs aren’t like that. They will uproot their kids and move anytime to take advantage of a housing opportunity. All they need is to know that your house is available.

Re: Taking on properties this time of year - Posted by Doug Pretorius

Posted by Doug Pretorius on August 17, 2003 at 11:40:46:

I bought my first house to be wrapped in the middle of October, had it cleaned up and ready to go by about the middle of the first week of November, and had a buyer move in 6 days before Christmas … and I DID NOT have any buyers lined up before purchasing the house.

Moral: In a good market, you can sell with financing any time of year.

Re: Taking on properties this time of year - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on August 17, 2003 at 10:38:31:


If you sign it up soon, won’t you be trying to market it between now and the first of November? I would think think that a serious leasee/optionee would appreciate having their next residence tied up ahead of time so they can give notice where they are now.

Good InvestingRon Starr********

Re: Taking on properties this time of year - Posted by David

Posted by David on August 17, 2003 at 10:21:12:

…naturally you have a large list of pre-qualified tenant/buyers, ready to move when a GREAT opportunity presents itself. Right?? You have an established method of advertising and marketing which rarely leaves you without t/b’s longer than 30 days. Right??
Seriously, it could be a minor nuisance but you will have prepared for it anyway as a professional level investor, so whats to worry? Enjoy the holidays!

Not so fast - Posted by Jim FL

Posted by Jim FL on August 17, 2003 at 23:09:50:

I respectfully disagree.
I do know we can fill houses during the school year, and do so all the time.
However, houses do move faster, in the summer vacation months.

I’ve also found, when school is in session, those folks who are so easily willing to uproot kids and move them, seem to have more credit issues, and less down.
The ratio is not as good in my experience.

When back “Up north”, I used to start stacking deals, come November, to hold over the winter, higher equity deals, because the sellers were having a hard time selling as well.
Spring would hit, with tax season, and wham, payday all over the place.
Summer was even better.

I just think when buying a house during the school year, especially colder climates, one should factor in a little more for marketing and extended hold time.

As J.T. says, just the way I view things,
Jim FL