Lease option Courses ( just lost 20K)

[Kerry]

Hello Gang:

I sure hope that this question doesn't cause any problems or hard feelings :SM124: But what I really need to know is who in all of your great wisdom(s) :praise: offers the best and most comprehensive lease option course on the net? I also realize that some of you, if not all of you offer some sort of REI program.

I have been reading and studying many boards for close to two years now and have decided to jump in. I have come to the conclusion that " Controlling and not owning" is the way to go.

I live in Florida, have made some calls to owners, thought out of the box, and to my surprise, have owners willing to come to my terms!!! I for the life of me did not think that it would be this easy to get homeowners to lease option thier "NEW" ( some new..some used) never lived in homes to me!!


I went to a home today, and if I had lease contracts, it would have been a done deal!!! Today's visit cost me about 20 grand! ( plus 2 others that I didn't look at)Turns out this owner has two other houses that he's willing to lease option out. All three were no money down, and add 1k to the final purchase price!! :SM117:

I have been working with other investors.....but they are holding on for the long haul, for which I am not at this time intrerested in. It is time for me to lose the diapers and branch off on my own. I also don't agree with some of their methods...of which I classify as close to strong arming home owners in a bad situation.

I understand most of how the RE industry works. The only forms that I have really been exposed to is the FLA BAR Contract ( Standard Florida sales contract) used by brokers.

I am asking who's got what on this board as opposed to any of the others due to the fact that I feel this site, although in it's beginning stages offers integrity( spelling). The link to the " bad" investors is what has convinced me to stay here and go where I have never been before.

Thanks
Kerry

[Kerry]

I just realized that I have a private message box. I don't know if it works but if it does please send your responses there, so it my not possibly offend anyone.

Kerry

[Dan Auito]

Kerry. Do this and you will NOT be sorry. I'm keeping it here in plain site because we are not about hiding good recommendations on this board. Since you are in Florida, you need to make it a point to physically meet with Jim here from our site. He goes by the member name of JIM(FL) look him up in the members list, e mail and private message him and also visit his site as well.

Jim is a regular here and he knows exactly what to do, let him work these deals with you on the first go around and you will skyrocket from here on out. I am convinced that this is the way to go. I cannot tell you how much this advice hits the mark. Just do it! :SM144:

Get ready to do your deals Kerry: www.REmentors.com :SM039:

[Jim FL]

Hello Gang:

I sure hope that this question doesn't cause any problems or hard feelings :SM124: But what I really need to know is who in all of your great wisdom(s) :praise: offers the best and most comprehensive lease option course on the net? I also realize that some of you, if not all of you offer some sort of REI program.

I have been reading and studying many boards for close to two years now and have decided to jump in. I have come to the conclusion that " Controlling and not owning" is the way to go.

I live in Florida, have made some calls to owners, thought out of the box, and to my surprise, have owners willing to come to my terms!!! I for the life of me did not think that it would be this easy to get homeowners to lease option thier "NEW" ( some new..some used) never lived in homes to me!!


I went to a home today, and if I had lease contracts, it would have been a done deal!!! Today's visit cost me about 20 grand! ( plus 2 others that I didn't look at)Turns out this owner has two other houses that he's willing to lease option out. All three were no money down, and add 1k to the final purchase price!! :SM117:

I have been working with other investors.....but they are holding on for the long haul, for which I am not at this time intrerested in. It is time for me to lose the diapers and branch off on my own. I also don't agree with some of their methods...of which I classify as close to strong arming home owners in a bad situation.

I understand most of how the RE industry works. The only forms that I have really been exposed to is the FLA BAR Contract ( Standard Florida sales contract) used by brokers.

I am asking who's got what on this board as opposed to any of the others due to the fact that I feel this site, although in it's beginning stages offers integrity( spelling). The link to the " bad" investors is what has convinced me to stay here and go where I have never been before.

Thanks
Kerry

Kerry,
Dan was kind enough to alert me to this thread, and asked me to respond, so I will.

The first thing I'll do is ask you a question.
You said "I have come to the conclusion that " Controlling and not owning" is the way to go."

So, my question is this, WHY?

Seriously.

Here is WHY I ask this.
When you propose a lease option to a seller, basically you are offering to take over their payments, and if done right, agreeing to pay the mortgage balance at time of close.
The same basic idea behind BUYING a house subject to the existing financing, except you take ownership instead.
The ULTIMATE control IMHO.

As for who has the 'best lease option course'?
Frankly, there are a ton out there, some good, some better, and not too many bad ones.......because lease options are rather simple in nature.

When meeting these sellers you mention, try asking them this (provided the numbers work for you of course), "Mr.Mrs. Seller, if we can take over your payments, cover maintenance, repairs, taxes, insurance, basically everything to do with the house, does that sound like something that might work for you?"

When/if they say YES, then you can propose your lease option, or subject to offer.

As for paperwork, there are TONS of places out there to get generic forms, but I don't advise that.
Use something that you KNOW complies with FL law.
If you need that, there are some courses out there that include them, and of course, a local attny or other investor might be able to provide them for you.

By the way, I live in FL also, as Dan said, and do deals here all the time.

Anyway, tell us more and don't worry about offending, as long as you use some tact and are honest, that won't happen with experienced investors, because we all have very thick skin.

Take care,
Jim FL