Оглавление
Wendy Patton. Sandwich Lease Options: Your Complete Guide to Understanding Sandwich Lease Options
INTRODUCTION. Lease Options: Anyone Can Do It!
Why I Chose Real Estate
CHAPTER 1. How Sandwich Lease Options Work to Get You to Future Financial Freedom (FX3) What are Lease Options?
Visualize This Scenario
Standard Lease Option Deals
How Lease Options Work
How Lease Purchases Work
Lease Option Deal
The seller: Janet
The Buyer: Roberta
Financial Freedom – You can get there!
There are several “paydays” using these techniques:
RESOURCES FOR CHAPTER 1
CHAPTER 2. Success Stories of Sandwich Lease Options
Lease Option Case: Steve’s First Deal
Lease Option Case: The Buyers Provide Cookies
Lease Option Case: An Investor Reaps What He Sows
Lease Purchase Case: Cleberto Has Multiple Exits
CHAPTER 3. Finding Motivated Sellers for Lease Options
What Makes a Motivated Seller?
What You Need to Know About Buyer and Seller Markets
Techniques for Finding Motivated Sellers
Ad #1
Ad #2
Ad #3
Ad #4
Motivated Landlords
How to Evaluate Seller Ads in the Newspaper
How to Navigate Successful First Contact with Sellers
Script for Calling the For Rent Ads
Script for Calling Realtors
RESOURCES FOR CHAPTER 3
CHAPTER 4. Evaluating the Profitability of the Deal. Winner: Stupidest Moves Award
Creating the Offer
Calculating Your Profit Requirement: Sandwich vs. Cooperative Lease Options
Profitability for Sandwich Lease Options
Example #1: Sandwich Lease Option
Example #2 – Sandwich Lease Option
Example #3 - Sandwich Lease Option
RESOURCES FOR CHAPTER 4
CHAPTER 5. Negotiating the Deal: Steps to Buying on Lease Options. Build Rapport and Make a Deal!
How to Build Rapport with a Seller
The Basics
Putting Together the Proposal/Offer to the Seller. Steps for a Proposal/Offer to the Seller
1: Keep It Simple
2. Do Your Homework
Offers in a Strong Sellers Market
Offers in a Strong Buyers Market
3. How to Determine Your Offer. Potential Areas to Negotiate for a Lease Option
Multiple Offers
Find the Seller’s Sticking Point
Handling Lease Option Sellers’ Objections and Responses
Overcoming Sellers’ Objections
Objection #1: I don’t want tenants in my home
Objection #2 – What if you don’t pay my mortgage payment? I am not sure that I like the idea of you making my mortgage payment
Objection #3 – Why won’t you put more down in the option?
Objection #4 – What if you don’t buy?
Objection #5 – What happens if you die?
Lease Option Questions the Seller will Ask You
RESOURCES FOR CHAPTER 5
CHAPTER 6. Getting the Paperwork Ready for a Sandwich Lease Option
Buying On An Option - Check List
Three Main Contracts for a Lease Option
Additional Forms for the Seller
Some of My Favorite Clauses for the Three Main Lease Option Contracts
RESOURCES FOR CHAPTER 6
CHAPTER 7. Advanced Concepts and Strategies for Buying on Lease Options
Extra Ways to Protect Yourself on a Lease Option
Ethics and Capital Gains. One area of Ethics to be aware of – Capital Gains for Sellers on Lease Options
The Capital Gains Rule (check with a tax advisor as this can change at any time)
What to do when your option has come to an end…
RESOURCES FOR CHAPTER 7
CHAPTER 8. Building Rapport and Sharing Lease Options with Realtors. Why Work with Realtors?
Steps a Realtor® Goes through on a Traditional Sale
How the Market Affects Realtors®
Finding the Right Realtor®
Networking with Realtors®
Sharing the “Realtor® System” and Targeting Realtors®
Getting your Foot in the Real Estate Office Door
“Educating” Realtors®
What to Bring to a Meeting
Begin your presentation
My Presentation to Realtors®
Making the Realtor® Part of Your Team
Building Rapport: The Follow Up
Ethics with Realtors®
RESOURCES FOR CHAPTER 8
CHAPTER 9. Closing Deals with Realtors® Why Aren’t Lease Options Appealing to Realtors®?
Addressing the Commission Issue
Structuring the Deal for the Realtor
Seller’s Market
Buyer’s Market
Sequence of Events When Working with a Realtor®
Structuring the Deals – The Details
RESOURCES FOR CHAPTER 9
CHAPTER 10. Finding & Qualifying a “Good” Tenant Buyer
Finding and Working with Buyers – An Overview of Selling on Options
Finding the Best Leads for Tenant Buyers
How to Post a Successful Ad
Types of Tenant Buyers and Their Credit Situations
Qualifying the Good Buyer
Your Standards
Screening a Good Buyer
Know What Are Reasonable and Unreasonable Expectations
The Credit Report
Criminal Background Check
What You Should Know About Fair Housing Laws
Rejecting a Rental Applicant
Buyer’s Objections
RESOURCES FOR CHAPTER 10
CHAPTER 11. Getting the Paperwork Ready for the Tenant Buyer. Approved!
Getting the process started!
Selling On An Option Check List
Always Check Your Paperwork!
What You Need to Know About the Three Essential Contracts
Points to Consider for the Option Agreement
Points to Consider for the Rental Agreement
Co-signer Agreement
A few more things to consider for the Rental Agreement
Additional Issues to Cover in Your Rental Contract
Make Sure Your Tenants Read and Understand the Agreement
Purchase Agreement - Offer to Purchase
Be Prepared For the Tenants
RESOURCES FOR CHAPTER 11
CHAPTER 12. Managing the Property and the Tenant
Commitments to the Tenants
Protecting Your Privacy with Tenants
Who is Responsible for Repairs?
Transition Between Seller Moving Out and Tenant Moving In
Maintenance On the Properties
A Good Buyer Turned Bad
Collections Procedures
Tips to Increase Profits
Moving a Tenant Out When They Decide Not to Exercise
Nikon Drive Property
RESOURCES FOR CHAPTER 12
CHAPTER 13. The Simultaneous Closing –The Big Payday. Closing – The BIG Payday!
Typical Example of How the Deed Flows
Typical Example of How the Money Flows
RESOURCES FOR CHAPTER 13
CHAPTER 14. Advanced Concepts and Strategies for Selling on Lease Options
Advanced Selling Strategies for Lease Options
Strategies for Reducing Your Taxes
Exercise Your Option and Hold for Another Twelve Months
RESOURCES FOR CHAPTER 14
CHAPTER 15. Business Organization for Lease Option Investments
Color Coding Your Files
Seller Folder
Tenant-Buyer Folder
Software for Your Business
Work Orders
Tenant Payment Ledger
Using a Tenant List
Keeping Necessary Documents On Hand
Good Recordkeeping is a Must!
When to Hire Someone
Qualities for Hiring Staff
In Conclusion – Where Do I Go From Here
RESOURCES FOR THE REAL ESTATE INVESTOR
