In
Rent To Own Real Estate the key
is to find a motivated seller, once we have
found the motivated seller and pre-screen
them on the phone, we set the appointment
and go see the house. On the day of the
appointment, you want to call and confirm
the appointment so you don’t waste your time
driving to the property and seller isn’t
there. The only thing you take in the house
is your business card. Leave everything else
in the car.
Ask the seller to show you around the house.
If they tell you to just look around, ask
them to give you the nickel tour. The intent
is to view the house with them and build
rapport with them.
* People only do Business with people they
Like and Trust,
you must make this connection before
negotiating on their most expensive
investment.
Look at their pictures, and nick-knacks for
ideas to ask them questions to get them to
talk to you. People only do business with
people they like and trust. You can only do
this by building rapport. Let them answer
your questions and then respond to what they
told you.
Use F.O.R.M. to build rapport:
F: FROM
O: OCCUPATION
R: RECREATION
M: MESSAGE
F:
Q. Where are you guys From?
Your Response: “Oh really I’ve got friends,
family” or “I have visited” or “Where is
that?”
O: Q. What do you guys do?
(Occupation)
Your Response: “Wow…..I have always wondered
about that.”
R: Q. What do you guys do for Fun or
Hobbies? (Recreation)?
Your Response: “I do that too”, or “I’ve
always wanted to do that.”
M: Q. Where can we sit down and talk?
Once seated, then give them your Message, by
asking them Four Questions.
* Let them answer your questions completely,
do not interrupt them, People only do
Business with people they Like and Trust! Do
you like people who interrupt you?
#1. So that I can better help you, tell me
again,
why are you selling?
#2. How else have you tried to sell your
house
before you contacted me?
(What you are doing is reminding them they
have a problem).
#3. What do you hope I can do here for you
today?
PAUSE: You are thinking on how to
help them, let them see your concern and
wanting to help them.
*Your response is that you might not be able
to buy their house today because of a lack
of equity.
#4. However, I might be able to help you out
of your financial problem by making your
monthly payment for a while and cash you out
in the future, is that something we should
talk about or probably not?
If they want to talk more then explain to
them you can do a Long term Lease, where
your company will Rent the property for a
period of time and in the future you have an
Option to purchase the property at a price
they agree upon today. The option will be
$10 Dollars which will make it a binding
contact, that you will have the Exclusive
Option to Purchase the property in the term
you agree to. (That is how Rent To Own Real
Estate is done) You will cover most of the
day-to-day maintenance up to $250 and they
will be responsible for any maintenance over
$250.
You then tell them you will require a
long-term lease of at least 60 months to
make it work. You will sublet the property
to a Tenant Buyer and they will be the ones
to actually purchase the property in the
future. However, you will be responsible for
making the payment to them and taking care
of the day-to-day management. If they agree,
you sign a Lease Purchase Contract that you
will Lease the property for up to 60 months
and you have the Exclusive Option to
Purchase. Then set up a Lease Option closing
with your Attorney.
ABOUT THE AUTHOR:
Charles
W. Moore is a U.S. Army Veteran who began
investing in Real Estate in 2001. He's a
Full-Time Investor, Webmaster, Speaker, and
Author of the book, "Million Dollar Rent To
Own Real Estate Secrets Exposed." Get a Free
Report on
Rent To Own Real Estate Investing from
Charles at:
http://www.Rent2OwnExposed.com and learn
more about Real Estate Investing, Investing
in Stocks and Internet Marketing by
visiting:
http://www.REIeBooks.com
