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Sometimes Dreams Do Come True
   by Chuck and Sue DeFiore   

  We had originally contacted this seller from an ad she had run for a townhouse. It turned out that she was a Realtor. Before we could come to terms on the townhouse, she rented it. We figured no great loss, townhouses and condos are difficult to move in Las Vegas.

  About two months later, we received a call from her. She had kept the information we had mailed to her and had remembered our conversations. Hint, always follow up a telephone conversation with a letter, brochure or business card. You'll be surprised how often you will get a call from someone you've spoken to months or years earlier.

  It turned out that she was getting married and moving out of state. She wanted us to handle the lease purchasing of her current house. Before committing ourselves, we went to look at the property. The neighborhood was blue collar and the curb appeal of the house was OK, not great. Inside the layout was very nice with a good sized yard. This type of property is not our first choice, but we felt we could move it in 30 days or less.

  We started running our special lease purchase ads, along with our other unique marketing methods. These got the phone ringing off the hook from interested tenant/buyers. We had those interested do a drive by and showed the inside to a number of people with no success. Other than the type of property, we also knew we were trying to move a house that was a bit over market for the area. We compensated for that by getting a three year period for the option to be exercised and giving a very generous rent credit.

  Then the fun really started. Her moving date was advanced, so we had less time to work with the property than we had planned on. We knew she may have to rent the house if a tenant/buyer could not be found. One nice thing though, she was willing to compensate us for our time, knowledge and energy if this fell through. We might not profit as much as we would have, but we wouldn't be losing either. However, our goal was to get a good tenant/buyer into the home, not break even. We take very seriously our obligation when we contract for a property, had we not found a tenant/buyer we would have been disappointed.

  The moving truck was coming on Tuesday, the previous Sunday we ran what was to be our last ad. We received three very positive telephone calls from the ad. A gentlemen arranged to see the inside and liked it. We were going to meet on the Saturday before the move. He had to go out of town, so we rescheduled the appointment for Monday, the day before the truck was to arrive. However, Sunday the seller called to tell us the truck was coming a day early, you guessed it, the day of the meeting.

  Well, we did meet with the tenant/buyer on Monday, as the moving company was loading the truck. Talk about cutting it close. While we were there a young lady also arrived to see the house, she really loved it. It would have been perfect for her and her disabled husband. We felt bad, we would have liked to have seen her get it, especially after she said it would be like a dream for her to own a house like this.

  The original tenant/buyer gave us a substantial non-refundable deposit, with the balance due in four days, Friday. Considering we didn't have a strong feeling for this person, we weren't surprised when Friday came and went without any word from him. We left several messages for him without a return call.

  The following Tuesday we called the young woman back to see if she was still interested. You could hear her yell with joy. Obviously she was still interested. We made arrangements for both she and her husband to see the house. They were in agreement about loving it. We redid the paperwork and picked up the whole assignment fee while we were there. We did have to take a post-dated check, but sometimes you have to follow your gut. We had a very good feel about this couple.

  From start to finish, it took us about five weeks to move this property, perhaps 15 hours of our time totally. This is about three weeks longer than our average. We were compensated to the tune of a $2500 assignment fee. However, keep in mind, this business is not just about money. It's about helping people. Nothing can replace the feeling of knowing you helped someone get into a home today that they can buy tomorrow. Like all people who deal with the public, sometimes you have folks that you like more than others. This couple was one of our favorites.

  By the way, it seems as if the renter in the townhouse we had originally contacted the seller about flaked out and disappeared. So it appears as if we will lease purchase the townhouse after all.

  It's funny how things work out.

Copyright DeFiore Enterprises 2000

Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 17 years, and we can help you too! To see how, visit for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses.
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