Using Craigslist for Finding Motivated Sellers
Question on Craigslist and finding motivated sellers for lease options:
LEASE OPTION QUESTION:
So far I have two really good properties that I am putting contracts on. I do have a quick question as I continue my search...
I am using Craigslist and the newspaper primarily... searching the "homes for rent" section. My question is this... if I call on a property that is already listed in one of these, for "x" amount of dollars per month.... what is my thought process supposed to be on either "sandwiching" (sandwich lease option) or "wholesaling" (cooperative lease option) the deal?... I may need to advertise the property at the same price or a slightly higher price (on Craigslist or newspaper). Doesn't make sense that this would be possible if they hadn't rented it yet at that same or lower price. I don't have a big pool of tenant/buyers right now (yet)... just want to get my head on straight about this process. thanks in advance for the input.
Chad
LEASE OPTION ANSWER:
Chad,
if you are advertising the same home it would be for a lease option and not for lease...different audience - different tenants....BUT getting it locked up with the sellers should be important so you can advertise it. Most sellers will stop advertising when they feel comfortable that you will be helping them lease option their home. Remember you are looking for a motivated seller that couldn't sell so they decided to try to rent. Right now, however, the rental market is pretty hot, so getting them on the phone quickly to find out if their priority is to sell, would be key.
I hope this helps.
To Your Success
Wendy Patton
