Hey, it’s Joe Crump. This next outrageous
claim video is titled How to Make $5,000 in 30 Days Working 2 Hours a Day Five Days a
Week. And this is predicated upon having some knowledge. Once you learn how to do this,
working two hours a day is probably not going to be necessary. If you work, you know, three
or four hours a week, making $5,000 in thirty days is going to be very realistic and something
you can do every thirty days or you can do every week if you gear it up and work a few
more hours to make it happen. Or you outsource some of the work or you automate some of that
work. And essentially one of the ways that I suggest
that if you’re new at this or you’re just getting started or you’re looking for a
way to invest that doesn’t require your cash or your capital or your credit then what
I would suggest is that you use my for rent method which we go after for sale by owners
and people that have their homes for rent and we ask them if they would consider selling
their home rent to buy rather than just selling it outright or rather than just renting it.
And a certain percentage of those people say, “Yeah, I’d consider that.” When they
say yes we then have them sign a one page lease option memo that gives us a principal
interest in that deal which makes it legal for us to go out and sell that property if
you don’t have a license. I’ve had a license for almost thirty years, but you don’t need
one to do these deals. So you can go out and sell these properties.
You would raise the price by say, $5,000 and since you’re selling it on terms, your pool
of buyers goes up dramatically. The people, 75% of the people in the United States cannot
get a loan, cannot get a mortgage, which means that those 75%, they can’t own their own
house unless they buy it on terms. And there aren’t that many properties available on
terms. So when you have a property for sale on terms, it makes it really easy to sell.
As long as, with lease options, the monthly payment is at or below market rent. They’re
more sensitive about the monthly payment then they are about the purchase price. You can
usually sell it for a little bit more. Let’s say I’ve got a property for $200,000 and
it rents for $1,500 a month and that’s market rent. So I’m going to get $1,500 a month
for it, I’m going to raise the price to $210,000. I’m going to ask for $5,000, or
I’m going to ask for $10,000 up front, but if they don’t have $10,000 I’m going to
take $5,000 and then I’m going to have them make the payments on the other $5,000 over
the next few months. They’re going to make payments to me for that other $5,000. So I
can get more money by doing higher priced properties and asking for more money down
even though they don’t have enough money for the down payment now.
And by the way, when you’re advertising your homes rent to buy don’t put in how
much down payment. Just put “down payment required” and then when they call ask them
how much they’ve got for a down payment and try to go up from there. Try and negotiate up
from there. So, that’s how you do it, and so you make
$5,000 really quick just by flipping one deal with very little work if, you know, talking
to the sellers, getting control of the property, putting it on the market. We almost always
are able to sell these properties from between two and four weeks on a lease option when
you use the basic marketing techniques that I teach, which is using Craigslist, using
Postlets.com, putting a sign in the yard and making it available for people to see and
using the right advertising to let them know it’s available for rent to buy.
Make sure on your Craigslist and your ads that you say rent to buy or lease to own or
lease option in the title so the people know from the title to click on the link and look
at the ad and see what you’ve got. Put lots of pictures of those properties and you will
get those things sold. And if it doesn’t sell in thirty days, I
can tell you nine times out of ten the problem is that your monthly payment is too high.
So lower your monthly payment to try to get it down with market rent. That market is going
to tell you whether or not you’re priced properly. People look at between eighteen
and twenty-three houses on average before they buy one. If yours isn’t the very best
that they see for that money, then they’re going to buy something else. You’re going
to be competing with other properties that you’re priced in that same range at so you’ve
got to be able to compete with those. If you don’t you just don’t sell. And until you
get starting to compete with other properties that you do compete with, you know, by lowering
that monthly payment, that’s when you’ll be able to sell it. Because people are looking
at the things in their price range. They’re not looking at things that are dramatically
over that and then trying to negotiate down that price.
All right. So that’s how you do it.