I know it’s hard to believe how super easy it is getting started doing cooperative lease options in your spare time. By spare time, I mean 3 or 4 hours per week. Between now and throughout next year, cooperative lease options can earn you $10s of thousands of dollars each month for 12 hours of effort each month.
It’s never too late or too soon to start earning serious money with cooperative lease options!
Start Your New Year With A Healthy Income Stream
Your income stream begins by finding prospective clients that convert into cooperative lease option deals. These are the sellers in the deal. It only takes about 2 of these deals each month to deliver the income that you want. And it’s just as easy finding two sellers a month as it is putting in 12 hours each month. Importantly, you don’t need to go looking under every rock to find willing sellers.
The top 3 sources for cooperative lease option sellers are:
1) Craigslist remains the “go-to” source for:
a. Single-family houses
b. For Sale By Owner
c. For Rent that converts to lease options
2) Drive through neighborhoods looking for signs asking for the same as above.
3) Referrals (aka word-of-mouth marketing).
Highly successful cooperative lease option investors find about 60% of their leads this way. Other than maybe driving through white picket fence neighborhoods, these deals are found and put together with telephone calls. The other 40% comes from techniques such as Yellow Letter Marketing that are covered in the cooperative lease option course, but you don’t need these letters when first getting started.
That’s it, a few telephone calls are your entire marketing plan to build a healthy income stream going in to the New Year with cooperative lease options. But… I’d be lax if I didn’t mention that once you get started, the best marketing source of all kicks in.
The best marketing source are referrals, aka word-of-mouth marketing. It’s the best marketing that you can never buy.
In time and with experience, you can expect referrals to become close to 50% of your leads. These are “HOT” leads that come to you without you even needing to look for them on Craigslist or driving neighborhoods.
Integrity and Professionalism are Key to Cooperative Lease Options
If you want to earn those word-of-mouth referrals and protect your good name, you have to conduct every cooperative lease option with integrity and operate with professionalism. The simplest and most reliable way is to do that from the very beginning by using a tested and honed method. One that has proven to bring referral customers to students that came before you and has repeated itself over many years.
Part of the integrity is always leaving the door open to opportunity. There will be times when a seller is vaguely interested in the idea of a cooperative lease option or a sandwich lease option but the numbers or timing isn’t quite right at the moment. You never want to try forcing a seller (or buyer) to do something they aren’t comfortable with. What you do want to do is make sure they have a clear understanding of the deal you are offering them. But if that deal isn’t right for them right now, let it go without trying to make a high-pressure sale. Instead, stay on friendly terms and ask if it is okay for you to contact them again in 45 days or 3 months to see if anything has changed with the situation. Often, they will give your deal more thought and come around to it in a few weeks. Or their situation will change and what you are offering will be the best deal that they can get.
Be sure you follow up by calling back when you said you would. That might become the easiest deal you put together all year.
Leads returning because you showed integrity the first time are just as good as word-of-mouth marketing.
Even if the original lead doesn’t come back in a few weeks, chances are good that they will refer you to someone in a similar position because you operate with integrity and professionalism.
Start With a Simple Goal – Nothing Complicated
I make this as simple as I can for you and you want to make it as simple as you can for the sellers to say “Yes, a cooperative lease option is something I’m interested in.” The simplest way I know how to make it for you is by giving you a free script to get the conversation started with sellers. That’s it, you take the free script and make a few phone calls and you will have started down the path to making serious money with cooperative lease options.
KISS. Keep It Short & Simple is what you want to do when first talking to a prospective seller about a cooperative lease option. After you finish the course, you’ll know everything there is to know about the topic. But when you first talk to a seller, you need to introduce the subject slowly. There are many ways to put together a successful cooperative lease but don’t overwhelm the person with too many choices in the beginning.
Here is an example of how simple you want to keep it: “I am looking to buy a home with a rent to own or lease option to buy. Are you open to selling your home? If so, please tell me a little about the home and maybe yours will be perfect for me. Also, if there are pictures or anything else you can share with me about it, that would be great.”
The other thing you want to do during the first conversation is learn how this house is causing pain for the seller. It doesn’t have to be causing them pain, but it often is if they are running a Craigslist ad or have a sign out to rent the house. I cover the many ways that you can help sellers in other blogs and the course. It could be anything from them needing quick cash by the end of the week to needing to relocate to a warmer climate for health reasons. There are dozens and dozens of reasons a seller needs to put a paying tenant in their house quickly. What I can’t tell you is the exact reason that sellers will give you on the first few calls that you make. However, now that you know what you need to learn from the seller and with help from the course, you’ll be prepared to not only learn what the seller needs the most but also how you can help with a cooperative lease option.
An important part of the first call is for you to learn what will help the seller the most.
Start today or the first of the New Year to use Cooperative Lease Options to Make quick cash in 30 days or Less. Most real estate investors don’t have a clue what to do with these types of deals and likely are throwing these away because they don’t know about this technique. The course includes step-by-step instructions plus all the contracts that are signed with the seller and the buyer.
There will never be a better time than today to prepare for next year by getting started with cooperative lease options!
- Investing In Real Estate with Lease Options.
- Advanced strategies for Buying and Selling with Lease Options.
- Cooperative Lease Options.
- Working with Realtors.
- You’re Wealth Building Arsenal.
- Add Personalized Coaching.
- Expand to Get the Deed “Subject To.”
By Wendy Patton
For more than 30 years, I’ve used the Sandwich Lease Option System to earn myself and my students millions of dollars. From my experience, I know there is plenty of room and opportunity in the real estate investment market for everyone wanting to participate to find profitable deals. It’s because of that fact and my personal success that I share the Sandwich Lease Option System with others.
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