OfflineHi All!
I'm on a budget and planning on sending an email campaign to FSBO sellers on-line to find motivated sellers that will consider doing lease option or owner financed deals.
Some investors say avoid using terms like "lease option", "lease purchase" or "rent to own" because some sellers don't really understand the terms or may be confused.
I know "rent" has a negative connotation with sellers. They think of renters not paying and tearing up their house. When you call them they say "they want to SELL NOT Rent their house!"
What about something like...."would you consider leasing your property for 12 - 18 mos. and then selling at the end of the lease?"
What would be a good email to send to FSBO sellers to see if they would be interested in selling on terms like lease option or owner financing deals?
Thanks!
Larry
I would say that we can take over your payments and give you your life back. Contact us for details. Don't give them a technical explanation. Personally we take the properties subject to and lease option them on the back end. NOT in California however.
To much info just confuses the seller and scares them away.
Michael
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Thanks Michael for your input. I was also wondering what about something like....
"Can't sell your house? Tired of Making payments? I can make you a full price offer to buy your house now and close quickly". Contact me for details.
Or "House Not Selling Quickly?"......
I was thinking this may weed out the sellers that REALLY need to sell and on my terms. Any thoughts?
Thanks
"Can't sell your house? Tired of Making payments? I can make you a full price offer to buy your house and close quickly". Contact me for details."
My interpretation, you are telling them you can pay full price and close quickly. Seller thinks traditional sale. Then you move from traditional sale to lease option and...
"Some investors say avoid using terms like "lease option", "lease purchase" or "rent to own" because some sellers don't really understand the terms or may be confused."
So the seller may have a negative reaction like you are promising one thing and then trying the old bait and switch on them.
I would use something like "I am looking for a house in the area that I can rent for a while before I purchased it. Is that something you might consider or probably not?"
Or, "My name is Spanky. I am a local real estate investor looking to buy a property in the area in the next couple of weeks. If you could be flexible on your price or terms, call me."
Just my view, something for you to consider.
Why don't you sub 2 and lease option in CA?
Michael,
Im curious about problems you may have encountered
in the California market, regarding Lease Options?
I live in Sacramento CA.
Walter T Smith
Good Information TRSD...Thanks
Home sellers asked me "what do you mean by flexible terms"?
I was wondering what about something like:
......"I can give you a Good Price for your property if you can sell on flexible terms with little or no money down".
I was thinking the seller will know that he will get a "Good Price" and not a low ball offer and the seller will not be looking for all cash or a large down payment from me and he will be taking payments. Any thoughts? Thanks!
all good discussion on this - I would suggest staying away from statements like:
"I can make you a full price offer to buy your house and close quickly".
You want to have some flexibility in negotiating the deal and don't want to be accused of initially offer one thing and then changing to a lower offer. What the seller has in mind as what "full price offer" means, may not be what you intend or are realistically able to offer after going over your numbers and seeing the condition of the property.
Sellers that need to sell under special conditions rather than a full market offer using an agent are usually because the property needs work, but sometimes the seller just needs out quickly or something is wrong.
hope this is all helpful...
- Kevin
- think about what if? - and what is possible rather what is not
- Kevin
You can Join my Buyers list: http://www.townlineproperties.com
I've contacted sellers from Craigslist but had no success with getting motivated sellers to do "terms deals" or seller financing. The market is not slow, housing prices are increasing and it seems mostly everyone wants CASH now.
When I used the words "investor" and "flexible terms" I got many rude and nasty responses. "investor" is a bad word here.
I did find a couple of sellers that were offering a terms deal but they wanted 20 - 25% down payment.
I hear people that claim they are doing 6 - 8 terms deals a month. How does someone with a low budget marketing find sellers that will entertain this type of transaction? Is this type strategy viable for this current market? Thanks!
Believe it or not, I get a lot of lease option deals from Zillow. I look for the listings that have been on there for 60+ days. They tend to be more motivated. I also recommend building a relationship with a realtor. Most will be more than happy to send you expired listings.
Tomorrow Is Never Guaranteed, So Make The Most Of Today & Don't Put Off What Can Be Done Now!
Hi Ionco
Thanks for the info. I haven't had any good success using Craigslist. How do you find realtors that will send you expired listings? I haven't found any yet that will provide expired listings. I was wondering do you use realtors to find motivated sellers to do sandwich leases? Thanks.