Welcome to the Real Estate Investing Mastery podcast.
My guest is Matt Reed. He’s been on the show before… episode 159. You can look up the episode and listen to it on my website.
Matt does a lot of lease options. He gives sellers a choice of how to move their property. Once they understand lease to own, many choose that option.
Matt got a deal less than an hour ago. He bought a nice home, which can be rented for $2,600, by taking over the mortgage. He’s going to find a tenant buyer for a 3-year lease option.
The tenant buyer is responsible for repairs and maintenance. Matt warranties certain major systems for the first year.
Matt says 3 to 4 months is the average amount of time it takes to finalize a lease option deal with a seller and tenant buyer. He contacts FSBOs and landlords to start the sales conversation.
Use an escrow company and an attorney to draw up the paperwork. Be professional with sellers and don’t pressure them. Advertise for tenant buyers.
Listen and learn:
- Cash now/cash flow/cash later
- Matt’s team worked this deal for a year
- Follow up, follow up, follow up
- More than half of sellers are in distress
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Podcast Hotline: 636.255.8815
- Joe’s sponsor:WLO Book
- Email Matt Reed: support@JoeMcCall
- Matt on Facebook: Matt Reed
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