[Jackie Lange]

Jackie Lange

I’ve received several emails asking what are the best ways to find Master Lease opportunities. I’ll share what’s worked best for me. But it would be great to hear what’s working best for you. There’s not one right answer!

All the master leases I have in Panama happened because someone else knew an owner who had a problem then they referred the owner to me. So referrals is my #1 source for Master Lease opportunities.

It is usually a situation where the owner had been trying to rent out their houses for a long time with no luck. So they start asking everyone they know if they know anyone looking for a rental.

Because I have a lot of people on my Panama tours who move to Panama, they know that I know who might need a rental. So the owner calls me.

But instead of just referring my clients to the owner, sometimes (not always), I tell the owner that I will rent out their house and guarantee that they get rent every month as soon as I find a suitable tenant. Plus I offer to take care of getting any repairs done but the owner has to pay for the repairs. I tell them that instead of a management fee, I just need permission to sub-lease it to my tour clients and my payment will be the difference between what I can collect from my tenants and what I pay the owner.

I’ve never had an owner say no.

Sometimes, to get the rent really low and my cash flow higher, I start paying rent to the owner the day we sign the lease even though the house is vacant. I know I can rent it quickly so I’m not worried about losing money.

Sometimes, I get a long term lease then sub-lease as a vacation rental or short term rental. The owners don’t care what I do so long as they get their monthly rent and I take care of any problems.

So, how do you get referrals? You need to tell everyone you know that you solve real estate problems. You could even offer to pay a $100 referral fee if they tell an owner about you then you are able to buy or lease the house. The more people you tell, the more deals you will get.

Real estate agents in Panama typically don’t do rental management so I make sure they know what I will lease or manage houses. I get referrals from agents too.

In fact, I get requests all the time of other people who want me to lease their house too or manage their properties. If I did not have so many other things going on, I would take on all the rental properties.

What about you? What are your best sources for master lease opportunities??