Dear Ron,
Thank you for introducing me to Todd Foster, who coached me in the pretty house business. I recently put a lease option tenant buyer in one of my homes using ideas I learned from you and Todd.
The family had $73,000 available, which we broke down as follows:
- $500 to the Title Company that handled the closing.
- $1,401.61 prorated October rent.
- $1,975/month paid in advance for each month November through March.
- $61,223.39 Option Fee.
They will continue to pay $1,975/month as they prepare to purchase the home. They are a great family, and I believe they really will buy it.
The sister of the tenant-buyer wants me to find a home for her family too. Also, thanks to your systems I also now have a list of other people with money for a lease-option home. I will reach out to these people as I market my future homes.
I now have some marketing money available, so I expect to grow my portfolio more quickly as I reinvest some of the money from this home.
Thanks again,
Norm Biller
