All Forum Posts by: Benjamin Haberman

Hello,

I am new to the BP community and wanted to mention how valuable I really believe this site is. Thanks for all the help so far.

So I was running some comps on my area to see if there were any newer homes listed at a price point between $300-$350 k. I am interested in buying a piece of land and doing a higher end modular. I feel the inventory in our area is lacking newer/higher end /mid sized homes. There is only one company right now doing something similar. I called them today and they mentioned they dont actually own the lots where they are marketing their houses on the MLS. This was very interesting to me. She said they have a "lot option" agreement with the land owner. So from what I gather the land owner can not sell the lot during the agreement and the "buyer" is allowed to market the home on the MLS and use it as a "Dummy listing" (thats what she was referring it to)

My question is. Does anyone out there have experience with these? What incentives do you offer the landowner for entering this agreement?

Any info would be MUCH appreciated.

Thank you

Ben

Sounds like he is hard up for money and is trying to bully you into paying him. Do not pay him. Possibly type up a letter explaining why you originally fired him from the job and how you will not be paying him anything. Sign/date it. Mail to him. Keep on record. He will never bother you again.

@Christopher R. Oh ok. Makes sense. Good luck!

In the future try to do more of a thorough background check on tenant. I requested two years w 2's, and one year bank statement. From there you can analyze wether or not they can afford the rent realistically and can see how they are with their money month to month. It worked for me and I ended up getting a solid tenant who has her check in my mail box by the first of every month. 

The more organized/efficient process you have for background checking, the less headaches in the future.