how can i overcome this obstacle ???

it won't be the last time most likely a deal falls through

I wouldn't put too much energy into this one

I am sure you will find another, better deal my bud. Don't take it to heart, it is just business. Bumps in the road, geez I thought I was the bump master!!!! Go forward and don't look back. I never do...Jan

For sure...its not the first but sometimes I just get focused on an outcome ...but yes u r right im not going to dwell on this one .....going to play the waiting game and see where it goes.there is many deals to be had.
Jay

I have had many obstacles that have not been published as u have and I think sharing them shows that its the way it is.......and we can show how we overcame these obstacles.....that is where we learn and how others learn from our sharing the difficult side of rei.ANYTHING can be overcome.....there is ALWAYS a way! !!!
WE GOT TO TURN A DEAL THIS YR JAN! !!!!
JAY

Give them only 48hrs to accept the offer. If they're motivated- they sign.

I hear u ...and I have done MOST of my offers with this ....but I am going to let the seller sit and think......he KNOWS I have cash in hand and soo we will just see how motivated he is......I may lose this deal if someone else comes along with a better offer but my strategy is to buy this and sell lease option so I NEED to buy LOW. .THIS IS JUST GREAT experience for me to try different tactics of negotiating and learn from them. Thanks everyone for your input. The 48 hr offer is so they cannot shop the offer and mike is right in putting this in the offer to see if they r motivated.This particular seller WAS motivated but it now seems he has changed motivational emotions.sooooo I have to change my motivation to buy this one. Its kinda like a chess game and now its HIS MOVE......at least until MY motivation on THIS DEAL changes........this is AWESOME.
JAY

WOW, this is definitely one trying deal huh? In a week or two the seller will be motivated again. He is looking at it like its someone that really wants/needs the deal, not knowing you have many you are working on and are always adding new ones. Good luck and let us know if he comes back to the table.

The property is better than I thought but he also told me originally that it had a drilled well but when I viewed it is a shared water source and he want sure where it originated from.I let him know this was a big concern for me....in reality it is not as big a deal but I know it would be for MANY buyers so just another move in the chess game.great to hear from u jack !!
Jay

You mentioned you had a prospective lease/option buyer to purchase the deal after you got it. Would you (or anyone else) share some terms you use in your lease option deals. We have a person interested in buying a property from us lease/option... this would be our first one. Any pointers would be appreciated!!

Jay, your persistence is VERY inspiring! We've hit many road blocks but keep on trying to push through it. Keep up the good work!

Who knows if waiting another 30 days and the property still in the market?? maybe the seller will want to accept your original offer?? But meanwhile, there are so many other properties around and like you said, you might even get 2 or 3 properties between now and then.

the deal will come to you if you just back off. You are probably the only offer he has. If by chance it goes to someone else, let it. We can't win them all. Obviously, the Realtor didn't have good client control and that's not your fault. Let her/him earn the commission and talk some sense into him. Don't chase the deal UNLESS it is still a super deal at a new price. There are plenty other fish in the sea.

will tell and overcome the obstacle. I'm lucky if 30% of my deals actually come through. Its all a part of real estate investing. But, look at all you've learned! There's plenty more fish in the sea! If he sits there for a couple months paying rental fees on the lot and having to come up with expenses, your $7K will look more and more attractive to him.

Besides, now there's a chance for me to catch up to you!

move onto the next deal.

If its meant, it'll be. If not,there are others to make money off of

If he wants to sell he will come back to you Jay. And if he does not sell to you it does not take food off of your table. But it is fun to try to make a deal work out isn't it.

Steve.

Some terms I use for lease option are....5000 down as option money and mnthly patents to fit buyers that have the down pymnt.plus I get from 6-9 % interest.I make the pymnt fit so for instance they say they can swing 500 per Mnth ...I look in the mortgage calc or book and line up the paymnt with the yrs it takes to pay it off.....or if I want to get pr in one or 5 yrs .....then that's what the contract reads .......ex.balloon pymnt.

I have also done 2000 down 500 per Mnth at 9% and a 1 yr balloon.

Basically I make my terms fit my buyers as long as I can buy below these figures and make a good down paymnt and good cashflow per Mnth AND..... A GOOD DIFFERENCE ON THE END ......PLUS I AM THE BANK ....GETTING INTEREST!!!!!! wow can this be real? ???? YOU BET!!!! THANKS DEAN AND PMI! !!!
JAY

When you do a l/o on a mobile home, do you have them pay the park rental fees or do you include it in the lease? Some mobile parks around here will not let you rent if you do not live in the mobile home yourself. How do you get around that?

It is CERTAIN we will SUCCEED!

I don't buy mh's in the park ....for that reason. Although as mike said...you can get around that by becoming a partner through seller financing..I don't like to rent all that much because I want to lease option almost always to get out from under all the headaches...such as maintenance,taxes,insurance,collecting rent,etc.I do have some rentals such as multi families........so that means multiple income and only one tax, maintenance, insurance........great cash flow.
I buy mh's on there own lot with water,septic,power....and lease option the whole thing.now I get a good down with mnthly cashflow,and make awesome on the end total PLUS I AM THE BANKER!!!!
JAY

The biggest problem I am having with L/Os anymore is the timing factor. When doing a sandwich lease, I am asking for a 5 year period because of the uncertainties in this market. Sellers aren't thrilled about that time frame but I'm not willing to budge as I think this market is really screwed up. I need 5 years because I want to give my lessee 3 years. The ole 1 year is almost an impossibility in this banking environment. Also, I won't look at MHP unless I can make REAL GOOD money because they have become a pain in the arse to deal with. Just my two cents.

Bill, I am in total agreement with your 5 yr L/O timming factor. With mortgage money slipping away more and more for investors the 5 yr rule seems right. Perhaps this mess will turn around in 5 yrs.

JB, Our deal will come, be sure of it. We are stalled in our tracks on the student housing deal at this time. The investor has brought others into play and the rules are changing everyday. I feel we are being squeezed here, but I am holding on and being stubborn as to how the % works out.
I bailed on the 5 props of which only 2 got my interest and the down to hold the paper was at 30%. We could get a better deal at a bank.

Anyway, hang in and if it is going to happen it will. The seller will come around or you need to walk..Jan

Caught u online here so wanted to say hi!!! Keep in touch on any possibilities for us!!! Will let u know when I get down your way....should be in a Mnth or two.looking forward to a delmonicos get together...maybe jeremy can make this one? ????? Would be great....also would like to attend one of your rei meetings when there too so let me know if that's possible.talk soon bud
jay

From realtor asking to refresh her memory on trailer offer again.she is going to talk to the seller AGAIN.I offered verbally to pay 8000 and all attornies fees and realtor commission.I have found an attorney to do 350 transactions...so that would be 700.I could get this for total of 10,000 ........I know this would still be a great deal as the water,septic and trailer alone would be worth more so I would be getting the extra wide paved driveway-cost-5-7,000 and lot-3-5,000 for FREE.................this deal may still be alive but will sit back and wait it out.....thanks everyone for all your ideas and suggestions.It is great to have dgers give their input and ideas we can all learn.
Will keep adding as the deal progresses
Jay

You didn't have to wait very long on this one. WOW!

You inspire us all Jay!

Here's hoping your deal #19 is revived!

YESSSSSSSSS!!!!!! I KNEW IT!!!!!! THIS SELLER was motivated but wanted to see what I had in my lineup!!!! Well I waited it out ...and.........offered 8000 + I pay both attorney,s ...and the agents fee ..so I will get this for 10,000. Great deal..........I HAVE A SIGNED SELLER ON MY PURCHASE AGREEMENT........ now I have to go in and sign AGAIN!!! COOL............ right now I have just emailed all my buyers list to happily inform them I have a deal for them
Now hopefully all the attorney work and title will go smooth! !! Excited to complete # 19........# 20 I just a few days away! !!!! Will post #20 soon...........like days....its just signatures away......WOW im PUMPED!!!!
JAY

GRATZ!!!! That is awesome Jay WOO HOO!!!!!

Patience PAYS off again!! Way to go- CONGRATS

It's only 1st wk of JUNE.....6 more months of FUN

Thanks!!!!

Patience IS KEY! ! as u know.there r many deals or irons in the fire that I am being overly patient on waiting to get the great deal not just a good deal.
jay

a VERY short time to wait! I'm still waiting over 6 months on some of mine . Way to go!!!!

Now I see why you wear that hardhat of yours, you keep tripping on all those deals you keep getting!

But seriously, way to go, sounds like the seller was just yanking your chain. Keep up the great work.