Notes

Don't Rent Your House - Lease Option It!
Don't rent your house- lease option it
The fastest way to own houses is to lease option, not rent. That way you recruit a better quality of tenant, more and more people to choose from, additional money up-front, additional money monthly no repair headaches. Sounds good, right? I usually get $100 a month extra on the house until $150,000; up-front option financial resources are about 3% from the sales price. If your house needs work, I provide a work credit when they do it themselves. If the house is an emergency, then I offer my special, "No money down, you fix" deals (On those deals I get approximately 150 calls every day). If you are able to get in light, there isn't a lot of cash occupied in fix up costs. Long ago, I learned to not tie up my take advantage keepers.
Since you obtain a lot of calls on these ads, you will need to minimize the effort expended on your part. The ad is positioned inside the houses to book and houses for sale sections.
A typical ad reads a significant house reads:
Rent to possess
Cute 3/1 fenced yard. Nice area. Low down
$850 mo+ $100 mo towards purchase
If the house is a tragedy, I always fix it first. This is how the ad reads:
Rent to Own- $0 down-
U fix. 3/1 fenced yard. Nice area
$850 mo + $100 mo towards purchase.
Notice that her explanation and rent has not yet changed? Slick huh?
You should have an outside number with a different voice mail. On the voice mail you can give the address and hype the property. Tell them they are driving starting with and require a flier and look in the windows. At the exact property is a different contact number, that's my cell. That way you should only talk with people who have seen a nearby, and seen the house, and discover how the sale works. At the house you do have a flier that outlines what is required. I have about 100 fliers and check every day or two to find out if it can be empty. Tape you to definitely your window in the event someone takes the final one.
Make sure the property is clean and neat even if it needs work. Leave the window coverings open. Check your voice mail regularly given it will fill up fast. Mostly you will see hang-ups. The calls you will get back are those you will need to speak to. Be sure to take some time to screen the callers. Ask them about employment, that will live there, simply how much they earn, how long at present address. Do they have the mandatory option money? Verify they earn no less than 3 times the rent amount a month. How is their credit? If it is all totally ok, create a showing time.
Make sure you schedule several appointments at the same time. Tell them to bring $100 in cash plus $25 application fee in case they like your home. When you have the showing, arrive ten mins late. Let them see other people there also. Take applications through the qualified ones with their money. No money-no application. Don't question marital status- it's illegal.
Every adult gets his/her own application. Date and number the applications. You have to take the first qualified tenant, not essentially the most qualified.
Check out everyone thoroughly. When you have determined arrange to have the rest from the first month's money quickly. You would be surprised how many people walk from $100. Don't make ad out in the paper in anticipation of having ALL the money. Things may go wrong getting the club the very last minute. Return all unacceptable deposits without the $25 appraisal of creditworthiness fee. If possible, go to the prospective tenant's house to have the rest of the money to determine where did they live. At the very least, examine their car. If there are mounds of McDonald's wrappers on the back seat, think twice. Look at their license to determine should they are really who it is said they're. Take only cash until they transfer.
If you truly like them but they don't have all the money needed, allow them to have a payment schedule- in writing- but refer to it as rent-owed. The money they pay first is option money. The money they owe you is rent. That way if they move around in and welch, you are able to evict them for non-payment of rent. It's tough to evict as a result of non-payment of option money.
I done this successfully even from out of state. Many times I never met people. What do I care the things they seem like. If they qualify, they qualify.
My Website: https://dailyuploads.net/f0tykl0vr2dr