Notes

Don't Rent Your House - Lease Option It!
Don't book your house- lease option it
The simplest way to have houses is always to lease option, not rent. That way you recruit a higher quality of tenant, more people to pick from, additional money up-front, more income every month and no repair headaches. Sounds good, right? I usually get $100 monthly extra on the house until $150,000; up-front option money is about 3% from the sales price. If your home needs work, I give you a work credit when they take action themselves. If the home is a tragedy, then I offer my special, "No money down, you fix" deals (On those deals I get approximately 150 calls each day). If you are able to enter light, you do not have lots of money bound in fix up costs. Long ago, I learned never to complement my profit keepers.
Since you get countless calls on these ads, you must minimize the trouble expended on your part. The ad is positioned inside the houses for rental and houses for sale sections.
A typical ad reads a decent house reads:
Rent to own
Cute 3/1 fenced yard. Nice area. Low down
$850 mo+ $ property management doncaster east towards purchase
If the home is a disaster, I always clean 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 how the price and rent has not changed? Slick huh?
You have to have another number with another voice mail. On the voice mail you can supply the address and hype the house. Tell them drive an automobile frist by and take a flier and appear in the windows. At the house is another phone number, which is my cell. That way you merely talk with those who have seen your neighborhood, and seen the home, and know how the offer works. At the property there is a flier that outlines precisely what is required. I have about 100 fliers and appearance every week to ascertain if it's empty. Tape one to your window in case someone takes the last one.
Make sure the property is elegant even when it requires work. Leave your window coverings open. Check your voice mail regularly given it will fill up fast. Mostly you will see hang-ups. The calls you obtain back are the ones you will need to talk to. Be sure to take enough time to screen the callers. Ask them about employment, that will live there, how much they earn, the length of time presently address. Do they have the mandatory option money? Verify which they earn no less than 3 x the rent amount each month. How is their credit? If things are all ok, setup a showing time.
Make sure you schedule several appointments as well. Tell them to create $100 in cash plus $25 application fee in the event that they like the house. When you have the showing, arrive ten minutes late. Let them see the rest of the people there also. Take applications in the qualified ones and their money. No money-no application. Don't ask about marital status- it's illegal.
Every adult gets his/her own application. Date and number the applications. You have to go ahead and take first qualified tenant, not one of the most qualified.
Check out everyone thoroughly. When you have made a decision arrange for the money to find the rest with the first month's money quickly. You would be surprised how many people walk from $100. Don't take the ad out from the paper until you have ALL the money. Things can be wrong getting the club the final minute. Return all unacceptable deposits minus the $25 credit check needed fee. If possible, go to the prospective tenant's house to obtain the rest in the money to determine the way they live. At the very least, look at their car. If there are mounds of McDonald's wrappers around the back seat, think twice. Look at their driving license to determine whenever they are really who it is said they may be. Take only cash until they move around in.
If you really like them nevertheless they don't have all the money needed, allowed them to possess a payment schedule- in writing- but refer to it rent-owed. The money they pay first is option money. The money they owe you is rent. That way when they move in and welch, you are able to evict them for non-payment of rent. It's tough to evict due to non-payment of option money.
I carried this out successfully even from out of state. Many times I never met the people. What do I care what they resemble. If they qualify, they qualify.
Here's my website: http://www.masonre.com.au/