Welcome to the show. We are talking about creative ways to do lease options with guest Jesse Mills.
Jesse is an investor who’s a massive action taker, my favorite kind. He’s also a mortgage broker.
Jesse does a lot of lease option deals. I like to get his perspective because he sees deals with the eyes of an investor and a realtor. Plus, he’s been doing real estate work for 15 years.
As a mortgage broker, Jesse hit a real rough patch with the 2007/08 financial crisis. He started looking for other options in real estate and came across my course on wholesaling lease options. He did his first lease option deal in 2011.
Jesse now averages 3 lease option deals per month. The twist is that he’s been marketing WLO deals to investors who are flippers or landlords and having great success.
He finds these buyers using a system I teach, which makes me proud. He monitors Zillow and Craigslist and networks like crazy. Since he’s in the biz, he also networks with realtors, loan officers, and attorneys.
Even though Jesse makes his money primarily on assignment fees and gets paid early on in the lease option deal process, he calls this approach the slow flip. He’ll explain it to you.
One example: Agents sometimes have prospective homeowners whose preapproved financing falls apart at the last minute. The prospect still needs a house and he’s narrowed his search while working with the agent.
The agent then goes to Jesse for help solving the problem. He puts the motivated buyer in a house on a lease option. The investor who buys the house is pleased to have a tenant with the mindset of an owner.
The agent looks like a hero and will bring Jesse more deals in the future. Also, the agent still gets the commission. The tenant buyer, the investor and the realtor all come out happy on a deal like this. And Jesse gets an assignment fee for facilitating the deal.
Listen and learn:
- Focus on 3 or 4 things you are going to get done in a day, and do them.
- Network with people who are involved in real estate, like realtors and loan officers.
- Learn about Jesse’s slow flip method.
- Please leave a podcast review wherever you listen.
Mentioned in this episode:
- Joe’s podcasts: Real Estate Investing Mastery Podcast
- Joe’s free book: Wholesaling Lease Options
- Jesse’s Facebook group: Lease Option Secrets
- Contact Jesse via email: firstname.lastname@example.org
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