All Forum Posts by: Randy Duke

I have heard a real estate guru claim that you can get way more rent with a lease option that with just a straight rental, also he said you should get a 5-10k non-refundable option deposit.

My question is, is that true?

I would be inclined to think that if the renter/buyer has bad credit and can't qualify for a mortgage, that he probably does not have 10k sitting around.

Thanks. I decided to pass on it because was not sure I could sell.

I am looking to make offer on a house to wholesale and I found some comps in the same neighborhood for 140k, but subject house is near RR tracks and a  commercial looking building.

My question is how do you adjust for the negative aspects of the subject property to determine ARV. or FMV.

I'm trying to get started wholesaling, and I was taught to always ask the seller how much they want for the property and not to be the first to spit out a number, but I have found that when I contact owners of vacant homes and ask how much they will sell for they say that they need to find out, then they wind up contacting a real estate agent which convinces them to list their house, then I'm cut out of the loop. they go from having a vacant house that they did not know they wanted to sale until I sent them a letter to now listed with an agent. My question is how do I keep this from happening?