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All Forum Posts by: Jonathan Rexford

Jonathan Rexford has started 15 posts and replied 245 times.

Post: Rates of return

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

I just want to throw this out for discussion. I have a subdivision that I have been trying to sell for about 18 months. They are 14 lots that are 5 and 6 acres each. It is gated all that good stuff.

I may have the opportunity to change the zoning from current use and lease the land out for about 12K per month as a NNN lease. What are rates of returns are investors looking for. I am asking 2.5MM currently.

Thanks in advance

Post: What Forms to use when doing a Wholesale

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

Purchase and Sale agreement with seller and Assignment to investor

Post: Script for 800#

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89
Originally posted by Jeff Fairchild:
Is there a place to find a bunch of different scripts for 800# extensions that work for real estate investors?

Or, if you don't know a source, what do you say on your # when a seller calls from your advertising. How many different scripts do you use and what do you say on them?

I just say hello, my name and how can I help you.......and just build a conversation towards the info you want.

I stopped using auto messages for buying homes a year ago.

Post: Marketing Right - Short Sales

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

I stopped working short sales as a business model last month. Not because of lead flow. But what I have found out is that direct mail has a lot of competition. Meaning that every bill collector, attorney, etc and maybe an investor is trying to contact them. The best way to get them is to go knock on the door.

Post: FL Statute 501.1377?

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

The deal is the cooling off period and giving the seller of the property time to review the documents along with a copy of the paperwork. You must also have the statement of release.

To allow you to do the work. they have some statements regarding sale lease backs and also some advance fee stuff in regards to acting as a foreclosure consultant.

Post: "Subject to" help

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

Really it all boils down when buying subject to is EQUITY.

Post: Sandwich Lease Option

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

Identify what the fear is about doing a SLO. If the fear if making the payments on an empty house scares you then don't do the deal or place in an agreement to do a performance lease option agreement. Meaning that you will only pay if it is occupied.

If you are fearful of seller not upholding up there end of the bargin then you can record a mortgage or deed of trust against the property based on the performance of the option agreement.

Just a few ideas.

Post: Sign Lease first?

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

Go ahead and sign the agreement stating that you will start making payments on the agreement as soon as you find a suitable tenant.

If that doesn't work then just take an option on the property. Telling the landlord that you will exercise this option to Lease Option when you find a tenant.

Post: "Subject to" help

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

Well first off there is no deal here for a sub2. Since its worth 150K and they owe 160K there is no equity. Why would you want that deal.

Now in regards to seller. If seller had a lot of equity then you could either pay the seller in cash based on what the deal is or give the seller a note for balance.

If a lease and option was already placed on the property then the lease stays with the property. Now the option is another consideration...if tenant already has that in place.

Nothing can be put on your credit unless you agree to loan terms.

Here is what I would do with this deal.....NEXT.

Post: Seller's reaction @ closing table

Jonathan RexfordPosted
  • Real Estate Investor
  • Vero Beach, FL
  • Posts 268
  • Votes 89

Tell the seller up front what your intentions are. That you may make a huge profit.

Tell the seller that you may not be the person that he closes with that you have financial partners.

Be up front.