Group Q & A 313070

Question:

In volume to rental agreement BSH1703A, if you require certified check for each item at the signing meeting, rent, performance fee etc.  What is the down side of having the lease in your company’s name?

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Group Q & A 828070

Question:

I have purchased your study material and it is packed with great information.  As you know, it is a lot of information, and I am just getting started.  When you talk about real estate, people always say, run the numbers to see if it works for you.  What I need is a formula so I can run the numbers.  If there is a spreadsheet that walks you through it in your study material, please tell me where to find it.  If not, would you please send me one along with instructions on how to make a good decision once you run the numbers?

Answer:

We have got exactly what you need.  In your Buying System, there is a form; it is called Property Acquisition Worksheet.  Now, that Property Acquisition Worksheet helps you to find exactly what you need.  It guides you through all the questions you need to be asking, and all the details that you need to put together in order to determine what is the best deal, and what’s the best structure.

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Group Q & A 014070

Question:

Let’s jump on in with Carol and Joan Bowser who have a question:  Dear Lou, we are so excited about the real estate business.  We wanted to learn all we can to help others.  Our questions are:  How important are short sales in negotiating with the seller?  It seems like a lot of additional paperwork and new negotiating skills with bankers.

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Group Q & A 119070

Question:

Let’s start off with a management question this time and we hear from John Meddle, and John says:  How is a promissory note for a lease option structured?  For example, a $2000 note at 15% interest:

A:  Would it be all due as a sum at the end of the length of the note, or would monthly payments be made?

B:  Is it amortized?

Or,

C:  How about a larger promissory note?

Answer:

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Group Q & A 424070

Question:

The first question is from Jean and Bob Clark they sent…they asked about louisbrown.com.  We are just getting started how do we get into the member part of the web site.

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Group Q & A 900170

Question:

The reason for this note is to inquire how to handle this wonderful situation I have pending.  We have a $269,000.00 house currently in the owner financing rent to owner category.  We have an interested couple with $15,000.00 to put down and able to pay $1,500.00 per month.  As you can see, the down payment fits our program perfectly and the $1,500.00 payment is about $500.00 to little to actually cover the payment on the underlying loan.  Please advise how you would structure this one-year deal.

The couple Charles Sr. plans to cash out within 6 to 9 months once their credit issues are resolved.  I was told that their son Charles Jr. has crummy credit and it has ended up on Charles Sr.’s credit report.  Can credit wiz help straighten this out?

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Group Q & A 805070

Question:

I’m in the middle of buying property that we intend on flipping.  The house has an above-ground pool and it’s three-quarters full of stagnant water.  What’s the best way to empty the pool so we can demo the pool?

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Group Q & A 320170

Question:

Joe was asking a question; I’ve looked through everything I have but I didn’t notice the answer if it was there.  What percent of the monthly rent and option fee go toward the payoff of the house?  I’m working on a lease-option deal now for one of our houses.  The house is worth $250,000.  He’s willing to pay a 5% option fee, but wants to know what percent goes toward the purchase price.  Thanks.

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Group Q & A 225070

Question:

I’m going to get started right away with Laura who had a burning question from South Florida.  She says she sent it several times.  So, I want to make sure that Laura knows that we got her question, and we are going to give her an answer.  She’s the first one that gets an answer tonight.

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Group Q & A 601170

Question:

The first question comes from William Edwards who says:  How do you start part time.

Answer:

Well William, here’s what I’m recommending.  I understand that you’ve got all these commitments and all these distractions in life particularly when you’re working with someone else, so what you want to do is be able to calendar and commit a certain amount of time on a daily and weekly basis to allow yourself to be able to have the time to build your business.

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