expired listings - Posted by Don

Posted by Matt B on July 06, 2001 at 11:40:39:

I’m “courageous” for saying that I prefer lease options over subject tos? How does that make me courageous?

expired listings - Posted by Don

Posted by Don on July 05, 2001 at 18:29:07:

How do you approach expired listings? Some of these people are very angry.Do you wait until they cool off or contact them as soon as the listing expires?

Expired listings and my letter - Posted by Matt B

Posted by Matt B on July 05, 2001 at 18:38:45:

Why on earth would you think these people would be angry? Would you be angry if you were trying to sell your house, your listing expired, and an investor contacted you and asked if you’d be interested in selling your house to them? I doubt it.

Any way, if you’re interested, here’s the letter that I send out to the owners of properties that have been listed and recently expired-

Dear property owner,

I recently noticed that the listing you had for your house that you are trying to sell has expired. I would like to discuss with you the possibility of purchasing your house. I am an investor who buys homes to resell for a profit. If your house qualifies, even if you have very little or no equity, I would be able to offer you a deal where I would take over the payments on the house, guarantee all maintenance and repairs, pay the taxes and insurance and eventually buy the house from you.

If we can come to some agreement, I am able to move fast to relieve you of the payments on the house. I am not a real estate agent and am not affiliated with any real estate agency. I do not want to re-list your property. I am a private investor who buys houses and resells them for a profit.

I can offer you a FAST solution to the problem of a slow-selling house. In many cases, I am able to offer you close to the appraised value of the house. If you are willing to consider a lease option, I can move fast to take over the payments on your house, take care of repairs, maintenance, insurance, or any other expenses related to the house.

If we were to sign a lease option agreement, I will put a tenant/buyer in the property. This is someone who has been put through an intensive screening process by my company to make sure that they are able to actually buy the property at some point in the near future. I then work closely with this tenant/buyer to help them get qualified for a mortgage. It is in my best interest to deal only with quality tenant/buyers, because I make my money by actually selling the property, not by renting it out long term or charging you any fees.

The best part of this is that there is NO COST to you as the homeowner for this! As I mentioned, I make my money by actually buying the house from you and selling it to my tenant/buyer. I manage the property, take care of maintenance and repairs, make your payments, AND actually buy the house in the near future!

We do not want to deal with people who are only looking to rent and will not take care of the property. We deal only with people who want to become homeowners and do their best to maintain the property while they occupy it. Our tenant/buyers are put through an intensive screening process to qualify them for the houses that we buy and sell.

Even if our tenant/buyers do damage the house in any way, we guarantee in writing that we will repair any damages and bring the house back to the same, if not better condition than it was originally. We continue to make the payments on the house and replace the tenant/buyer with someone who is more qualified to actually purchase the property from us.

It is in our best interest to deal with only qualified, high quality tenant/buyers, because as I said, we make our money by selling the house, not by charging you fees. While we help our tenant/buyers get qualified for financing, we still maintain the property and pay all expenses related to the house so that you never have to bother with anything related to the house again. That is, until we call you up and tell you that it is time to come to a closing and collect your check.

We can offer you all this even if you have very little or no equity. Even if you have had trouble selling the property in the past, we can help. Remember, we don?t charge you any fees or commissions.

Give us a call today!


But what about… - Posted by WilliamGA

Posted by WilliamGA on July 05, 2001 at 23:11:50:

…all the “subject to” deals you miss with offering the Lease Option.

That would be my concern with a letter so slanted to that method of buying.

Just my opinion but you know how I love getting those deeds. LOL

TMI… - Posted by David Alexander

Posted by David Alexander on July 05, 2001 at 23:01:01:

Too Much Information.

I think you are giving the prospective sellers to much info.

You need to send them something that says simply… I am looking for a situation to Rent a house where I would have chance to buy in the near future.

If this would be something you might be interested in please call me at XXX-xxx-xxxx.

My opinion anyway… Remember I have never ever bought on L/O… not enough control for me.

David Alexander

Re: But what about… - Posted by Matt B

Posted by Matt B on July 06, 2001 at 07:38:43:

Believe it or not, William, I still get subject to deals from that letter. The idea is simply to allow the letter to do a lot of my pitch for me, then deal with the seller’s situation when they call.

I know how you love those deeds, but I think I may just love those lease options just as much!

Re: TMI… - Posted by Matt B

Posted by Matt B on July 06, 2001 at 07:36:23:

Why is it that everyone seems to think that I give too much information on my signs, letters, flyers, etc.? I do this to weed out the unqualified leads. I do a lot of different marketing and get a steady stream of about 20 calls a day. If I am more vague and general in my marketing, I get a TON more calls.

So why isn’t getting a TON more calls good? The majority of them want to feel me out or see much I might offer for their house, or they MAY be intersted in selling at some point. I prefer to let my marketing do a lot of work for me and screen out the time wasters for me.

Maybe I’m just lazy, but I’ve put a lot of work into my marketing over the past couple of years to make it most effective. I used to waste time on the unqualified calls. I used to just advertise “We buy houses, any area, any condition” and would get so many calls, but only a very tiny fraction of those were decent leads.

I’m not saying that my marketing is the only way or the absolute most effective, but it sure as heck works great for me. If you have found something that works better, I certainly won’t argue with your methods at all.

Lease Option preference… - Posted by Irving

Posted by Irving on July 06, 2001 at 11:10:35:

Good for you, Matt. Now a days it takes courage to admit a love for lease options in preference to ’ get-the-deed ’