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I have a few prospects that may eventually decide on it. My approach is somewhat different than most investors. I tag properties, approach Sellers directly, not through mail, and then keep them on the radar for a few years, building a relationship of trust. I make a spreadsheet and keep visiting the houses too, to check if they are still in the state they are in, check on their tax payment history, city liens, etc. Basically, I do not give up on houses I initially zeroed in on.
Christmas time being around the corner, and the looming property tax bills, many semi-motivated people will be soon jumping on the “motivated” wagon, especially owners of the vacant houses.
Secondly, I am shifting my focus on Master Leases for Airbnb too since I have been running an Airbnb space for a year now, and have learned a lot from it. I am shifting to the shared economy principal……it is all about control of assets and devising ways of earning off of other people’s assets and labour.. So, I am training Airbnb housekeeping personnel for prospective Airbnb investors as a service add.
Sounds great! Follow up is certainly key in this business! I plan to take the master lease program next year with Mr. Tinley.
I want to learn as much as I can in that model as well. I hope my first HBS goes smooth. I am currently marketing for it and have hopes for good success.Much success to you Ayesha!
Nikia
There are lot of ways you can handle getting paid when you charge a flat fee. I usually have the sellers can sign a RELEASE OF CONTRACT AGREEMENT which states that you will be paid $x to release your contract so the sellers can go to contract with the new buyers.
Or, You can do a simultaneous close.
In some situations, when working with investors only, I will do an assignment of my contract. I would not do this with an owner occupant buyer especially if they are getting financing. I really prefer not to do assignments unless the fee is small (under $5k)
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