Читать книгу Sandwich Lease Options: Your Complete Guide to Understanding Sandwich Lease Options - Wendy Patton - Страница 5

In every seminar I teach, I ask the students, “Who of you would be willing to purchase a home valued at $200,000 for $100,000.” Of course all hands shoot up. Then I continue by asking if they would still be willing to purchase the same home if the price was $150,000. Most of the hands stay up. I proceed upwards with the price increasing the increments by $10,000 each time. I always watch with amazement as the hands slowly but surely drop. At the price of $180,000 almost all hands are down. The point I am trying to make to each of them is that most investors are not willing to pay this close to retail price for a home.

I then re-pose the question to them: “How many of you would be willing to pay $180,000 for a $200,000 house with no money down, with a 10-year time to pay the $180,000 to the seller at $1,000 per month? Oh, how about if we say all $1,000 of your payment each month gets applied to the price of $180,000? Now are you interested?” Now all their hands go back up. I ask, “Why, now, are you willing to pay $180,000 for that home that you wouldn’t have a few minutes ago?” They respond in unison saying, “Because you added some attractive terms!” My response is always the same: “You didn’t ask the terms before!”

Terms are parts of a lease option deal, such as price, amount down, length of time to pay, monthly payment, monthly credits, and other negotiated items with the seller, which will be discussed further and in more detail in later chapters. Many times even experienced real estate investors don’t ask, “When does the seller need his cash?” They say “no” to a price before they ask when the seller needs his/her money. The previous example illustrates how most investors think -- they don’t ask all of the right questions about the property before they make a decision. They look at the surface but they don’t dig deeper for other possibilities.

Lease options provide a creative solution that can allow you to negotiate terms that can increase your profits and provide a great investment opportunity. Now you are able to pay a higher price on a home if you can get reasonable terms, and having this tool at your disposal allows you to open up many new possibilities and make money on deals that were before completely ruled out. It’s all about terms!

When doing any lease option deal, it is one of my mottos that everyone must win or don’t do the deal. There are 3 people involved: the seller, you the investor and the tenant/buyer. It must be a win/win/win; otherwise walk away.