Click Here Note, All questions will remain anonymous and will be placed on the blog!

QUESTION:

I haven’t got around to the part about monthly rent credit, if there is any.

ANSWER:

That would also be incentive for the tenant. I don’t use them, I do the rent as “interest only” and everyone seems to understand that as an opportunity, not a problem.  If they ask, or if they demand, then I can adjust the contracts accordingly only as a benefit to the seller.

QUESTION:

One question/concept that  keeps coming up in my mind is; What ties the Lease-Optionee’s loyalty to the Home owner/seller after I’m out of the picture?  (or vice-versa) Isn’t it NORMAL for an option “fee” to be back-end “credit” towards tenant’s purchase price?

ANSWER:

The answer is the same for anyone putting money down, it’s the emotion of the loss of consideration.  Man will fight twice as hard not to lose, than to gain.

QUESTION:

I’ve been learning about the SAFE ACT, and figured it would be a good post topic for your blog.

Has it impacted any of our methods that we use?

At the moment I would be concerned about lease optioning a property that isn’t their primary residence or is an income producing property for them, second home, etc….
As I understand it the S.A.F.E. Act prohibits creating a note on that type of deal or you need an attorney and/or mortgage broker to sign off on it.  Lease optioning could be considered owner-financing to some.

With the Land Contract I could see how that could be prohibited based on the new S.A.F.E. Act Guidelines, unless an attorney or mortgage broker was involved as that would be an installment sale.

I was wondering with Pre-Paid Legal if the attorney you were provided didn’t seem to be helpful, could I request another one?
Were they able to give advice on deals you may have done out-of-state without incurring more charges to assign you another lawyer familiar with that state law?
Are you able to interchange lawyers easily if you have a question about law in another state?
Also, when you may have done your out-of-state deals, did you simply use you Michigan LLC and make the contract so that all laws would be enforceable only in MI?

ANSWER:

QUESTION

Hey all,
Just wanted to share with you a tele-summit that I will be a part of. This is for my “Tessera Method”, which many of you are familiar with.
I will have an affiliate link for you shortly (mine “the banners” are to the right and on top) for any of you who would be interested in making some money off of my program, or any of the other speakers.
If you are interested in Tessera for yourself, please send me an email to: adam@tesseramethod.com and I’ll see that you get access when it opens back up on Nov 5th.
This is going to be an awesome event with my good friend Darius Barazandeh.
See you soon!
Adam

This is your chance to get your questions answered for free!
Simply click on the email below, ask your question and we’ll answered it at no cost.
The rules are simple, in order for this to benefit both of us, we ask your permission to post the question as well as our answer on the blog. Your name and email address will be completely confidential and remain anonymous.
So if you’r ready, ask away!
info@thefrustratedinvestor.com
Regards,
Adam

Question:

Good Day Adam. I have about 5 bird dogs. I understand how to lease option and move pretty homes.

How do I move junk properties using an agent?

What strategy do I use to move a junk property?
(most gurus teach you to have a buyers list, not the case in the CP manual)

Thanks

Answer:

I hope you see how powerful this scenario can be.  And THIS IS in the manual!

Hey all,
I am going to just make a really quick post here on a very, critically important topic.

I realize many of us are looking for that silver bullet to our financial independence, and are looking for whomever has the best shortcut to getting there.

However, the most important thing that you need to pay attention to isn’t the shiny packaging, the content that is included, or even the wonderful guru selling it to you.

It’s the experience of whomever is teaching it.

What I mean is simply this.

If you’re going to get into a business, buy a course, or go through a program, what is it that you are REALLY buying?  Think about it for a second and let that sink in.

What is the number one greatest asset that I have for you guys?  Is it the information?  Is it my charisma?

Let me tell you something straight, if you think it’s any of those, you’re screwed.

It’s PERSPECTIVE.

So, if you’re buying a course off of some guy out there that has no track record, has only done “great deals” and never made mistakes, what’s going to happen when you get out into the real world?  Gee, let me guess, 99% failure?  Yup, that’s right.

Here’s what’s scary.  You may do a deal, make $50K and think you’ve made it.  I’m here to tell you that ain’t making it.  What’s making it is knowing the difference of how to repeat it, but more importantly how to structure the framework around the real assets of a real estate deal.  That’s right, the PEOPLE involved in the deal.

So, next time you go to a seminar, or webinar and get all glassy eye’d about the silver bullet product you’re going to buy and how it’s going to help you with your future, realize that if you put yourself first in this world, you will fail. It’s the perspective of not only knowing how to put others first, but also making sure that when things go wrong that the guy making his living selling you shit hasn’t left the building because that’s all he knew how to do…sell you shit.

And the best way you can predict if that’s going to happen, is to ask yourself one question.  Does he have perspective enough to support you when the music stops and there’s only one chair left?  Or does he have another agenda entirely?

Keep your eyes opened!

Adam

QUESTION:
Hey Adam,

I’ve got a few questions for you, if you get a chance to get back to me:

I’ve been investing in real estate for the past 3 years– have made great money in buying nice properties in Atlanta, but have essentially leveraged all of my reserves to keep increasing my cashflow (20-25% down payments, etc, etc). I essentially save each year to buy two more houses the following, and rinse and repeat. The cashflow is great– but I really want to “make the money and get out of the deal,” and do more quick cash type investing– which is part of the reason that I found your program– which kicks ass by the way.

Now, here’s the thing. I’m still in college, just turned 21. When I go home to Atlanta, I see the JV system working perfectly, as well as many other aspects of your CP program. There are more “we buy houses” signs then ‘stop signs’ it seems. But while I’m at school (tiny rural town with no “typical” investors–Greencastle, IN), rentals just aren’t worth it, flipping is just not an option, and their aren’t many of the investor types that are tossing “no equity” deals. Maybe there are some, and I will find them, but they aren’t a majority like in Atlanta. Here’s what I know— there are a lot of houses with little equity, motivated MLS sellers, a decent amount of FSBO’s, and a TON of people that are interested in rent-to-own.

So here’s my question– I was thinking of calling all of the ‘for rent’ ads and essentially bringing in tenant buyers, assign the LO, and repeat, while still marketing for motivated FSBO’s hoping to land some of those as well. Now, I’m also great friends with one of the most prominent agents in town– so that’s also an asset that I’m trying to utilize. Not sure of a clear way to work with agents and MLS?

1) Have you called for rent ads, and locked up deals that way?
2) Is there a way to incorporate MLS houses/retail scenarios in CP?
3) I have so many people on my buyer’s list that can put down $2-$6k, with good numbers, but literally no sellers list. How do you typically market to sellers (besides the ‘we buy houses no equity phone call’ route)? Bandit signs?

Thanks again for the great wisdom in your materials– I’ve literally read everything under the sun, and never have I had more light bulbs go off then I did when I came across your first videos/bought your program.

ANSWER:
Answers in bold.