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Re: Rent to own
Re: Rent to own -- paul/texas Post Reply Top of Thread Forum

Posted by: The King ®
02/18/2003, 08:53:29

Edit
Paul wrote: On your rent to own flyer you show a payment. Does the payment remain constant regardless of the option consideration paid?

King: Depends. First, you get whatever you can negotiate. Then of course, how much do you need down? Do you need the money to make your underlying deal? Where are you going? What are you trying to accomplish? What do you want to be when you grow up? Down money is a profit center.

Paul: Are you going to carry the note once they reach the 10% down mark or do you stipulate that they get a new loan and cash you out?

King: Depends.

First, on how they performed during the first three (3) years. There are people I would finance for as long as they wanted.

Second of course, you get whatever you can negotiate.

Third, remember Como's Rules of Acquistion

http://www.reidepot.com/articles/Como/Comos_Rules.html

CRA 22: More Is Better Than Less; Sooner Is Better Than Later and More Sooner Is Best.

And finally, there are the quintessential questions: Where are you going? What are you trying to accomplish? What do you want to be when you grow up.

Pau;: Do you offer a rent credit with a higher monthly rent?

King: We do all kinds of stuff...in all kinds of combinations. Specifically, we offer a $50 rental credit for every month the rent is paid on time. If they are late, they LOSE the $50 credit and PAY a $50 late fee. Yes, it is pretrty expensive.

Paul: I have a lot more questions but I will stop for now.

King: No prob Paul. Bring 'em on.

The King


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