[Rafael Vazquez]

Rafael Vazquez

Hi All,

I have yet to attend David Tilney’s ML and Property Mgmt course but if I recall correctly, in one of his recording here or may it was a conf. call, he mentioned that is probably better to not include the option when negotiating the ML at first and then try to get the option at a later time. My question is, when negotiating the option to buy in the future, what price do you want the option to be for? Current value of the home, future value?

Thanks,
Rafael

[DON WEDE]

DON WEDE

Of course it depends. It would be what ever you can negotiate with the seller. If there is a note and mortgage on the property try at a fixed dollar amount for the equity. That way you capture the note paydown. Jack addresses these questions in his two option programs. Worth every buck many times over.
Protect your position by a mortgage of option or deed it into a trust and have an escrow company hold all of the needed documents. If you are not making the payments on the underlying make sure you have a provision that you can if the seller misses payments. Put some bang in it $2.00 in equity for every $1.00 spent.
Get the courses it is a there.

Don Wede

[Rafael Vazquez]

Rafael Vazquez

Thanks Don! I have both of Jack’s Options courses…will look more into it….

Rafael