All Forum Posts by: Hart Hagan

Would anyone be willing to share the legal documents you use in lease option deals, namely:

the option contract
the lease agreement
the assignment of option to the buyer

Is there an assignment of the lease agreement to the seller?

Thanks.

Hart

I'm interested to see answers to Matt Meyers' question. I don't think the rent credit should add to the purchase price. I do think, the amount of rent credits actually paid should reduce the amount paid to the seller as of the time the option is exercised, which is usually NOT on the last day of the option period. In other words, the option might be exercised after 11 months, in which case, buyer would owe the seller the exercise price, less 11 x $350.

Am I on the right track?

I am a new investor and excited about this business. Would like to find another new investor with whom to practice my skills in talking with sellers and closing deals.

I follow Claude Diamond and Joe McCall and seek to emulate their methods, i.e., the GUTS sales method.

If interested, email me at [REMOVED]. I look forward to hearing from you.

Ok, I know this is a big topic, but I have some questions about how lease options work.

For example,

If I put a house under contract, should I seek to get an exclusive right to market the house? I've heard some say that it's an easier sell if the seller continues to have the right to sell the house, e.g., through a realtor.

Can anyone share the option contract, the lease contract, or other contracts that come into play in these deals?

Do you have a checklist of things to do after the contract is signed. For example, one investor I know works with a realtor to find the tenant-buyer. The checklist makes it clear what is to be done.

How do you market the house to find tenants? Two investors I know take pictures and then use vflyer, which publishes the same ad to numerous sites, including zillow, trulia, ebay classified, and others.

If you do a direct mail campaign, what demographics do you target? I was thinking about targeting homes with out of state owners, with a value of 125-250k, that have been purchased in the last 1-3 years.

Thanks for any input.

Looks nice. Good luck, Sharon. Have you ever used vflyer? I've heard good things about it.

I am getting started, and about ready to send out my first mailing. I am purchasing my leads from listsource.com. The question is which list will I use. My inclination is to focus on rent to own/lease options. That would suggest that I target homes purchased in the last 1-3 years, with a value of 125-250k. Am I on the right track with that? What has been your experience?

Can anyone recommend a Craigslist "autoresponder" that you like to use?

Thanks. I copied the list to a document. Will look over it to get ideas. As a new guy, looking for his first transaction, my challenge is to narrow down the scope and focus on 1-3 strategies consistently.