Notes

Don't Rent Your House - Lease Option It!
Don't book your house- lease option it
The simplest way to obtain houses is usually to lease option, not rent. That way you have a better quality of tenant, more people to pick from, additional money up-front, more income month after month with no repair headaches. Sounds good, don't you think? I usually get $100 per month extra over a house until $150,000; up-front option cash is about 3% from the sales price. If your house needs work, I give a work credit whenever they undertake it themselves. If the home is a disaster, then I offer my special, "No money down, you fix" deals (On those deals I get approximately 150 calls each day). If you can get in light, there isn't big money occupied in fix up costs. Long ago, I learned to never connect my profit keepers.
Since you receive numerous calls on these ads, you must minimize the time and effort expended from you. The ad lies inside houses to rent and houses for sale sections.
A typical ad reads a good house reads:
Rent to have
Cute 3/1 fenced yard. Nice area. Low down
$850 mo+ $100 mo towards purchase
If the house is an emergency, 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 that the price and rent have not changed? Slick huh?
You will need to have a different number with an outside voice mail. On the voice mail it is possible to provide the address and hype the property. Tell them to drive frist by and take a flier and appear in the windows. At the property is some other phone number, that's my cell. That way you should only talk with those who have seen the neighborhood, and seen your house, and discover how the offer works. At the home you have a flier that outlines what is required. I have about 100 fliers and appearance every few days to ascertain if it can be empty. Tape someone to your window in the event that someone takes the final one.
Make sure the property is nice and clean even though it takes work. Leave of the question coverings open. Check your voice mail regularly given it will complete fast. Mostly you will have hang-ups. The calls you receive back are the types you will want to speak with. Be sure to take enough time to screen the callers. Ask them about employment, who'll live there, simply how much they earn, how long presently address. Do they have the mandatory option money? Verify that property management balwyn can earn at the very least 3 times the rent amount a month. How is their credit? If things are all ok, build a showing time.
Make sure you schedule several appointments simultaneously. Tell them to bring $100 in cash plus $25 application fee in the event that they like your house. When you have the showing, arrive 10 mins late. Let them see all of those other people there also. Take applications in the qualified ones along with 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 take the first qualified tenant, not essentially the most qualified.
Check out everyone thoroughly. When you have made a decision make arrangements to find the rest in the first month's money quickly. You would be surprised the amount of people walk from $100. Don't go ahead and take ad out of the paper til you have ALL the money. Things can be wrong up to the final minute. Return all unacceptable deposits without the $25 credit check fee. If possible, navigate to the prospective tenant's house to find the rest in the money to view how they live. At the very least, have a look at their car. If you will find mounds of McDonald's wrappers for the back seat, think hard. Look at their driving license to determine whenever they are really who they are saying 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 think of it as rent-owed. The money they pay first is option money. The money they owe you is rent. That way when they move around in and welch, it is possible to evict them for non-payment of rent. It's tough to evict as a consequence of non-payment of option money.
I carried this out successfully even from out of state. Many times I never met the folks. What do I care the things they look like. If they qualify, they qualify.
Website: http://www.masonre.com.au/