All Forum Posts by: Adam Schneider

@Benjamin Carver

Fantastic post. Thank you for sharing. Any insight into MTRs and if some of the 1-90 day STRs are also used as MTRs?

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@Shiloh Lundahl Yes, there are lots of situations where life changes for the tenant buyer and they could appreciate the option of the lease option. I was looking for more of a sense of probability of completion to purchase, since most people I know who do L/Os don't do much volume --so the stories are more anecdotal. I know that there's the topic of the ethics that always pops up, and the loan-to-own lender mentality for some...I wasn't jumping into this post to weigh in on the morality piece or the intentions of the person doing the L/Os. It was really the curiosity of what % of tenants convert. I was at a recent real estate weekend event, and a couple walked to the stage and told their story of being tenant buyers. They shared their life story, that they never thought that they'd be able to buy a home, didn't know how home buying worked....and the landlord/seller took a chance on them. They were tenants for 7 years before they finalized their purchase. They had tears in their eyes. So, yes, L/Os certainly have their place in the world.

@Shiloh Lundahl Thanks for the response. Anecdotally, I know that there are success stories and lots of situations that didn't turn out well. It's tough to get a read on the success probability.

@Gene Mack

I'm sending this post to endorse Gene, in case you are interested in his offer. Gene is a 100% transparent guy who operates with the utmost integrity. I've known Gene and worked with Gene for years.

@Shiloh Lundahl

100 L/Os is impressive. Of the 100, how many people have completed the purchase?

@Scott Johnson, @Scott Trench, @Jay Hinrichs, @Christopher Johnson

1. Scott Trench, thank you for weighing in on your business philosophies on this one. Glad to hear.

2. At small dollar amounts like this situation has ($3,400??), it's very unusual for a company to dig its heels in like Estate Legal is doing. 

3. We've all had disputes. In my personal situation, I've come to believe that the juice is rarely worth the squeeze of going through small claims courts and arbitrations on small dollar matters.

Hello. I was hoping to attend the event tonight but I have a conflict now. Sorry!

@Victor Yang

Why are you not reaching out to a NC real estate attorney to draw up a document that spells out the agreement that you are looking to do with the tenant?

@Scott Johnson. Thank you for keeping everyone updated, Scott.