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Hello,
We are selling this home for 32900 and offering a lease purchase contract. The deposit is 1625 to move
in. The monthly payment is 500 dollars and 425 dollars lot rent to the park for a total of 925.Our financing offer is ZERO INTEREST! Your entire 500 dollar payment goes to principle for a total lease
term of 64 months. Then you will own the home free and clear.We are showing the home Sunday morning at 10 AM to two other families if you would like to see it
A deposit of one hundred dollars will hold the home for you pending the required park background and credit
check. This process will cost 45 dollars for each adult living in the park.Dogs are allowed in the park provided they are no taller than sixteen inches at the back.
If I may answer any further questions please let me know
Cheers
Don
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Above has been my canned response to phone and email inquiries. We lined them
up for the same time because it is an hour drive to get to the home for us.
An accidental open house. The last time we did this no one showed (it was in the
evening for several families who “reely reely” wanted to see it) So I’m not jumping
up and down with excitement.But the opposite could happen. They all show promptly at 10 and they all want it with
a one hundred dollar bill in hand. Is this a recipe for an impromptu down payment
HBS or am I missing something? There is a fourth family who wants to see the home
the following Wednesday who has stated they have 5000 to put down. Scheduling
prevents them from seeing it Sunday. We could offer them the opportunity to
participate in a round robin HBS sight unseen, or we could delay the round robin
to later in the week to give them a fair shot.Any thoughts?
Sorry, but you’re making a big mistake to set all the terms and conditions.
A highest bidder sale will help you get a LOT more money.
You’re giving away waaaaaaaaaaayyyyyyy tooooooo much with 0% – big mistake
Like don said read the book. Or at least, listen to all the audios about Highest Bidder Sales in THE DEPOT
Thank you for the replies.
We were saving the true HBS for a real 110% effort after the holidays passed. As it
turned out, only one of the three families actually showed up. The right family with
the proper motivation and money in hand.Yes we did give away a lot on this home. That was intentional as this was more a
proof of concept then it was a serious transaction. We bought for eight, spent thirteen
on the rehab and another three on holding costs. I had to nudge the price up a bit from
our original 29900 to give us some breathing space. A skinny profit. I was more
interested in return of capital than a return on capital.I like to call this our training trailer. Our investment will drip back like an annuity
and get rolled into future investments.If she runs away after a year or two we’ll just do it again with better terms for us
the next go around. If she completes the deal, I’ve already planted the seed that we
would take this home back as down payment on a better home down the road.I’d love to have a copy of Jack Miller’s 18 page lease with statute citations.
Our entire goal was to work through the process without getting (too) bloody.
Cheers
Don
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