Re: Re HOLY Camoly...
 

That is exactly why I love options, if the owner is willing
you can get an option on ANYTHING, for ten dollars
a dollar whatever, then turn around and sell it.
The key to profit is the owner does not realize
or does not care that he can get a much higher
price than the option amount.
even if a house is worth 100K and you get an option
for that amount, you still might get lucky and
sell it for 110K and your risk is a few dollars.

Trevor

WOW! You bet!
 

Offering an "OPTION To Buy"......to anyone who has something they want to sell has always worked for.....people with GUTS to offer it!

It doesn't have to do with Real Estate"

When my wife and I had our Antique Shoppe, In the Aspen, CO area.....I'd come across antiques at Garage Sales where someone DID have a REAL Antique worth a LOT MORE than what they were offering it for.....however, because I KNEW they didn't know didly about the item they were trying to sell, I'd make a "ridiculous offer to buy" (AKA an Option to Buy) and......ask them to phone me after the "Sale".

And.....most times.....they Phoned.

As an Aside here: When I moved to the Aspen, CO area.....I discovered something that made me lots of bucks.

SOME of the females having "Yard or Garden" Sales, in Aspen.....were offering stuff for sale they wanted to "cash-in" because they were divorcing the rich guy who convinced them to get married BUT.....after a few weeks or months.....these young "Snow-Bunnies" wanted to "get rid of this Rich Guy!....for whatever reason AND.....they found they owned a LOT of Good Stuff they had no interest in and would just like to Git Rid Of!

So....guys like me.....who KNEW what was going on.....would go to these Sales every weekend.....see how "under-priced" their stuff was (Hey...they just wanted to get as much cash as they could for the stuff the Rich Guy who sold them on getting married)

And......because I KNEW these "Gals" didn't have a ckue as to what their stuff was worth.....if they didn't take my Offer at the time of the sale....I gave them a Card....with MY offer.....as an Option....and.....I received calls.....even that afternoon.

So.....OPTIONS WORK.....even in the year 2015....on ANYTHING!

Don Alm.....loong time...."Option-Guy"

Real Estate Options...
 

Hi Ryan,

The late Jim Straw wrote a report on Real Estate Options, which is still available... His report also includes a sample real estate option contract at the end... (I have the report and read it years ago, I thought it was good when I read it.... :) )

http://www.businesslyceum.com/REOptions.html

Best wishes,

Dien

Re: Real Estate Options...
 

Dien,

Like I said awhile ago, options are great. But, like any other investment, you should understand the animal who's tail you are attempting to pull.

Here's my piece of advice to folks who aren't familiar with them: go to your local library and read every book on real estate options they have. Not the whole book just the chapter or two on options.

You'll be surprised at the number of "tails" on that animal. Yeah, I know actually reading a book, ugh! who wants to do that???

Here's a place where you just may be able to buy a complete real estate course for next to nothing: Your local Thrift Store's book section. Yep, you still have to read it.

Re: Don King's secret to success with the "Rumble in the Jungle!"
 

There was a guy fairly recently on the private WF room that had a one hour video on how he does these options, including some of the sites he visits for the research. The letter to the prospective house seller and the actual contract was where he was not real specific on. I think you had to purchase his coaching for that. In any event, it was a fairly thorough teaching on this topic.

He has since made it so you have to fill out a 75 question questionnaire just to be eligible for his teaching. I actually see a bit of value in a questionnaire, but all those questions? Overkill. To each his own I guess.

Re: Don King's secret to success with the "Rumble in the Jungle!"
 

Is this coaching about the rental properties that have options or some
other form of real estate option?

Re: Real Estate Options...
 

Good points, Tom.

The local law library is a good place to find case law, with
regards to real estate options. Also, to find out if they are
legal or not in your area.

Keeping the agreement as simple as possible is a good idea.

I use a local attorney for drafting the actual document and
memorandum. Don't want to look too smart, if we ever have
to talk to a lawyer or judge about the agreement.

Re: Don King's secret to success with the "Rumble in the Jungle!"
 

No, it was about contacting out-of-state home owners who have a lot of equity, making them a lowish offer, and flipping it to a rehabber (if rehabbing is needed).