The Lease Purchase Perspective
... A Way of Life
Sounds a little silly - I know. How could a real estate marketing method be a way of life, a philosophy? And, what exactly is the lease purchase perspective?
Unique to lease purchase, is the inherent requisite to genuinely care and want to help the buyer and the seller reach their goals. This is not to say you as the entrepreneur takes a back seat by any means, leaving your interests to last. Quite the opposite.
A counselor, a consultant, a teacher, a friend gets what they want by helping others get what they want. In this same way, you as a real estate investor can reach your goals by helping others into lease purchase transactions.
You see, most lease purchases are conducted on first-time-home-buyer-type homes. This means the average couple purchasing a home will be a novice, a beginner - nervous. A home is typically the largest investment most people will ever make in their lives. And here they are wanting to get into their first home and they need HELP! You can give it to them and make a nice income besides.
I guess the income part of lease purchases is the key. They will not make you rich. They can however, create an income that in many instances will surpass your present JOB so you can eventually quit and start your own business.
Start your lease purchase focus by:
After this stage, the key is going to be YOU. Your attitude, your perspective, your goals and desires will come through. Have you genuinely been interested in helping the buyer and the seller? Or, has your focus been on trying to make up for all those deals you missed and now you're going to try and get rich on this one deal that is before you?
- Determine the area of your town you are going to focus on
- Make calls to the classified ads in your local newspaper: the for rent and the for sales
- Simply ask if they would be interested in a full price lease purchase
- Once you know what the sellers want, you can run ads for buyers
- When buyers call on your ad under homes for sale, determine what they really want
- Get the specifics: # of bedrooms, area of preference, amount of money they have to put down and the monthly payment they can afford
- Once you have this information, you have a willing buyer and a willing seller
- Your income and profit is the difference between what the buyer can put down and what the seller will accept
- Once you are comfortable with this level of activity, you can then sandwich yourself in the middle and collect monthly income and then a profit at the end of the term if the buyer takes title
You see since most people are not that familiar with lease purchase yet, they need someone to help them. The philosophy of helping, goes back to the old school, the old way of doing business - provide service in return for income. In other words, actually earning it instead of trying to get away with something.
Think of how you would like to be treated in general and adapt or adopt that same golden rule to your real estate business and you will be surprised at the outcome. Referrals will come in from buyers, sellers, real estate agents and investors alike. We all know how difficult it is to find business people we feel comfortable with and return to on a regular basis.
Just focus on the place you take your car to get engine repairs. Too often we feel like our car is held for ransome. We feel vulnerable. And, typically we end up gettting frustrated and feeling like no one cares. If you care, people will feel it and they will keep coming back and finding others to send to you.
Lease purchase your way to wealth, happiness and your own business. Help someone get what they want today and tomorrow you will find those efforts have exponentially grown to help you reach goals before only dreamed of.
John Ross, CEO of Ross-Austin, Inc
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