Hi Mark,Ordered your book on Tuesday from Amazon and purolator delivered it on Friday. Have to say it is great so far and I am about half way through.
I invest primarily in Hamilton now even though I live in Halifax but think this strategy will really work.
Can I ask you if you have rent-to-own properties outside of the province you live in?
How do you find this and make it work as I know that I still want to invest in Hamilton due to the cost compared to Halifax although I will try this in Halifax as well?
regards
Rich
I invest primarily in Hamilton now even though I live in Halifax but think this strategy will really work.
Can I ask you if you have rent-to-own properties outside of the province you live in?
How do you find this and make it work as I know that I still want to invest in Hamilton due to the cost compared to Halifax although I will try this in Halifax as well?
regards
Rich
Hi Mark,
Yep, mine has arrived and I've started reading it. It actually didn't take that long, not sure why I thought it would be sooner, I think because I received the email that it was shipped very quickly after ordering it.
Zander
QUOTE (markl @ Jan 26 2010, 01:17 PM)
LOL
Thanks Mike appreciate that I am the cause of lost work days
Zander have you gotten your copy yet?
Regards,
Yep, mine has arrived and I've started reading it. It actually didn't take that long, not sure why I thought it would be sooner, I think because I received the email that it was shipped very quickly after ordering it.
Zander
QUOTE (markl @ Jan 26 2010, 01:17 PM)
LOL
Thanks Mike appreciate that I am the cause of lost work days
Zander have you gotten your copy yet?
Regards,
QUOTE (markl @ Jan 22 2010, 07:35 AM) Zander I am hearing mixed messages on that front.
I know Amazon has stock we did suck them dry last week. My suggestion is give Amazon a call and see where the book is. I spoke with someone who pre-ordered it and hadn`t received it yet.
Give them a shout you never know with the mail. They may be able to give you a tracking number.
Looking forward to hearing your review of it.
Regards,
I bought last Thursday. Friday I got an e-mail that it is in the mail. So, they still must have some in stock
I know Amazon has stock we did suck them dry last week. My suggestion is give Amazon a call and see where the book is. I spoke with someone who pre-ordered it and hadn`t received it yet.
Give them a shout you never know with the mail. They may be able to give you a tracking number.
Looking forward to hearing your review of it.
Regards,
I bought last Thursday. Friday I got an e-mail that it is in the mail. So, they still must have some in stock
QUOTE (gwasser @ Jan 31 2010, 08:49 PM)
I bought last Thursday. Friday I got an e-mail that it is in the mail. So, they still must have some in stock
Hi Marc,
Congratulations on your new book. Great read. I would appreciate if you could spend a few minutes clarifying the formula used in the book to determine tenant's monthly rent:
In the book, there is a ratio that is used (i.e, .085 * Purchase price or sometimes it is .0075 * pruchase price). Why not charage market rent? Why .075, .085 or .095? Is this a magic number? How do I explain this % to potential tenants as a win-win?
If anyone else has a good formula in determining market rent, please post or message me.
Thanks and Regards, Vic
I bought last Thursday. Friday I got an e-mail that it is in the mail. So, they still must have some in stock
Hi Marc,
Congratulations on your new book. Great read. I would appreciate if you could spend a few minutes clarifying the formula used in the book to determine tenant's monthly rent:
In the book, there is a ratio that is used (i.e, .085 * Purchase price or sometimes it is .0075 * pruchase price). Why not charage market rent? Why .075, .085 or .095? Is this a magic number? How do I explain this % to potential tenants as a win-win?
If anyone else has a good formula in determining market rent, please post or message me.
Thanks and Regards, Vic
Hi Vic,
While doing a rent-to-own you need to get above market rent to be able to have them save up a big enough down payment to be able to qualify at the end of the day. We use those numbers based on trial and error over the years. Typically these numbers apply more to tenant first rent-to-own than property first.
I explain this to potential tenants as a win-win as they are saving 20% of their rent towards the purchase of the property.
I have also spoken with people who do the bank rate + 2% and amortize it over 25 years. I believe there was a thread on that on the board.
These are examples of what I use in my business you need to find what works for you that you can sell and get you the type of returns that you are looking for.
Regards,
While doing a rent-to-own you need to get above market rent to be able to have them save up a big enough down payment to be able to qualify at the end of the day. We use those numbers based on trial and error over the years. Typically these numbers apply more to tenant first rent-to-own than property first.
I explain this to potential tenants as a win-win as they are saving 20% of their rent towards the purchase of the property.
I have also spoken with people who do the bank rate + 2% and amortize it over 25 years. I believe there was a thread on that on the board.
These are examples of what I use in my business you need to find what works for you that you can sell and get you the type of returns that you are looking for.
Regards,
QUOTE (markl @ Jan 4 2010, 07:21 PM) Hi Godfried,
It is available at Chapters it will not be in the stores for a little bit though you can order it here though
http://www.chapters.indigo.ca/books/Invest...ent+to+own%2527
Regards,
You could sell ally more books if you could sell as an snook
It is available at Chapters it will not be in the stores for a little bit though you can order it here though
http://www.chapters.indigo.ca/books/Invest...ent+to+own%2527
Regards,
You could sell ally more books if you could sell as an snook
QUOTE (markl @ Feb 1 2010, 01:32 PM) Hi Vic,
While doing a rent-to-own you need to get above market rent to be able to have them save up a big enough down payment to be able to qualify at the end of the day. We use those numbers based on trial and error over the years. Typically these numbers apply more to tenant first rent-to-own than property first.
I explain this to potential tenants as a win-win as they are saving 20% of their rent towards the purchase of the property.
I have also spoken with people who do the bank rate + 2% and amortize it over 25 years. I believe there was a thread on that on the board.
These are examples of what I use in my business you need to find what works for you that you can sell and get you the type of returns that you are looking for.
Regards,
Do most banks consider the tenant`s down and monthly credit as part of the required 5-10% down? What% of tenants actually end up buying after the term?
While doing a rent-to-own you need to get above market rent to be able to have them save up a big enough down payment to be able to qualify at the end of the day. We use those numbers based on trial and error over the years. Typically these numbers apply more to tenant first rent-to-own than property first.
I explain this to potential tenants as a win-win as they are saving 20% of their rent towards the purchase of the property.
I have also spoken with people who do the bank rate + 2% and amortize it over 25 years. I believe there was a thread on that on the board.
These are examples of what I use in my business you need to find what works for you that you can sell and get you the type of returns that you are looking for.
Regards,
Do most banks consider the tenant`s down and monthly credit as part of the required 5-10% down? What% of tenants actually end up buying after the term?
I was wondering what a snook was. We have pretty close to 75% of our tenants complete at the end of the day. Most banks are ok with it. If there is an issue you can always deposit the down payment monies in a lawyers trust account until closing.
As for an Ebook I would love to but the electronic rights of the book are controlled by the publisher so time will tell if they decide to go that route.
Regards,
As for an Ebook I would love to but the electronic rights of the book are controlled by the publisher so time will tell if they decide to go that route.
Regards,
