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Invest In Real Estate With No Money: What Is A Lease Option - Part 2 - YouTube
Channel: Kris Krohn
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Welcome back to the journey on lease
option land. Today, Steven Miller and I
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are going to do an expose into the, how
do I actually market a home to find the
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perfect lease option tenant?
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Okay, we are back. This is lease option
part 2. I've got Steven Michael Miller
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here with me,
this guy is the king of lease options,
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he's the first person that I hired, we
know how to make this happen and I'm
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telling you, if you're watching these
videos, saying, "Well some people are
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telling me I'm too young or too old to
invest, some people are saying I don't
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have enough money, some people say I
can't qualify with a bang." Steven does
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that matter? - It doesn't matter. - It
absolutely doesn't matter. We're going to go
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deep right now and we're going to help give
you what you need to go into the
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marketplace. I promise you, some of you
are going to take this knowledge and you're
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going to get into the market and be like, "Oh
my gosh, it totally worked."
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Alright, now by the way, one of the
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manuals that you can follow along with
what we're sharing is if you click on
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the link, you can get access to my real
estate straight path book, it's actually
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in the description below and if you get
the straight path to real estate wealth,
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we're outlining a lot of the details on
exactly what this looks like. What we're
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going to do today is, we're going to cover
marketing which is, we're assuming you
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got a house and we're assuming that you
want to know, alright, guys, I hear you,
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lease option is way more profitable than
renting, I got a house, what do I do? And
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remember to hang out for the fourth and
final one because we're going to show if
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you don't have a house, we're going to show
you how to buy houses on lease option
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with even as little as no money, no
credit, this stuff works. - It does, it works at
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rocks, it's amazing, so get ready, buckle
in, we're ready to go. So I'm going to
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talk about again, Kris said let's assume
that you already have the home. If you
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found it, it's a great deal,
it's got equity in it and you're ready
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to sell this thing on a lease option, in
other words, you're ready to hold on and
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maximize your profits to the very best
that you possibly can. In order to do
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that, you need someone to get into this
home, right? So you got to market it. Now I
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know, so many people don't like the
marketing thing right? Nah, I'm not really
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that good at a market. No, I'm telling you
right now, you do everything that we
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say, right here, right now. You will be
able to market your lease option like a
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champ.
- What Steven's going to do right now is
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he's going to draw a picture of a sign. If
you go and get a poster board, a bold
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bright fluorescent one from the Hobby
Lobby or the local craft store, what he's
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going to do is, he's going to put a message
here that if you post this on the
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property, this is going to attract the
right people. Go to Home Depot or Lowe's
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and get yourself a realtor stand, it's
metal, it's a basic frame, it'll
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either say for sale or for rent, you're
going to want to buy
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4 of these. How many? Four. You're going to
want one that says for sale by owner, you
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want one that says for rent, and then on
the other two, you're going to create a
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homemade sign that you are going to slip
on top of it, you're going to laminate it,
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and that sign is actually going to
attract all the people that you need for
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this house. This works like magic. Now
as Steven makes a sign, you might be
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wondering, "Well should I actually get a
professional sign made?" Remember that
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we're talking to a body of people that
are out there in the marketplace that
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are saying, "I've gone to a bank, it's now
embarrassing, I don't even want to
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look at my credit, I had a couple of
things that didn't work out for me and I
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don't know how to get a house but dang
it, I want to stop throwing my rent money
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away, I want to get into a house." And
Steven is going to show you a homemade sign
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that communicates to these people. We're
not a bank, we're not a formal
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institution but we do have your solution
and that solution is called rent to own.
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I want to say two words here and
these are two words that we're going to
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repeat over and over and over. When we're
talking about marketing this home, we're
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talking about attracting the right kind
of buyer for this home, these two words
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or things, so make sure you write these
down, hopefully, you've got your pen and
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paper out, you get your computer out, you're
taking notes. The two words that you're
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going to want to use is flexible and
open-minded. Okay you, you right now, for
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all intents and purposes are the most
flexible, the most open-minded person
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out there and they want to work
with you and you've got the sign, like
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Kris said, this sign communicates
flexible and open mind and this
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communicates, hey, I'm just the average
Joe, that you're just going to work with the
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average Joe and I'm going to work
with you. I'm not going to
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push against you, I'm not going to say,
no, disqualified nope, this call. I'm not
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going to say that, I'm going to say, absolutely,
let's find a way because I'm open and
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flexible.
- So rent to own is what communicates the
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most basic concept which is, listen, we
know you want to own, we're going to show
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you how you can rent and in time own. Bad
credit is okay because they're thinking,
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oh, they won't pick me and you're trying
to communicate, we will, you're going to put
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your phone number right here and then
you're going to say, no bank qualifying, no
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underwriters, no 30 days of over
qualifying, you collecting pay stack,
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paychecks and stubs and W2's and then
running your credit and looking with
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that and by the way, we do have a
qualification system because we want you
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to put the right family in. We're going
to show you the narrow
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gap where you're going to succeed the most
that you possibly can. - And I will tell you,
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don't deviate from this, like, don't try
to get creative and make up your own
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sign that works, you know, that you think
might know, we've tested everything so
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just stick right close. - Do you see
this big fat marker by the way? Do you
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see how Steven wrote this? It's legible.
As long as it's legible, fill it up from
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end to end and just a little tip for you,
leave enough room on the side because
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what I would do is get it laminated,
in fact, if I were to show you in a
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moment what those signs look like you're
going to laminate it and then you take duct
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tape and you're going to duct tape the
front an the back an the top and this
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and you're going to duct tape it to one of
those signs, it fits on there perfectly
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and boom, you are in business and you've
already started tracked in the right
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booth. - So let's talk about, let's move
over here, while Kris is drawing this up,
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I'm going to tell you little bit about this
because what we're going to go into right
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now is exactly where you want to place
the science. This is the science of
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marketing, you all know that
marketing is a science, it's a sometimes,
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it's a moving science. For this one, it's
not moving anymore, like we have tested
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and tested and tested and this just
works. So when you've got your home and
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you want to place your signs out, there's
a specific way to do that. Right now,
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Kris has drawn up a, wow this is pretty
good.. - This is a road.
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- We've got the house in the roof
and is this a, is this a 5 center
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pitch or is it a? - That's the six twelve. - Sex twelve pitch, okay, just make sure.
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We got to picture the roof, okay.
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So what you want to
do is, you want to actually have five
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signs. Now I didn't stutter, okay. Five
signs. - Steven is that kind of obnoxious?
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That's a lot of signage. - It might be a
little bit obnoxious but this is
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marketing and the whole goal of
marketing is to attract the attention of
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as many people as you possibly can and
then funnel the right ones to you, right?
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This is the whole purpose here. So what
Kris is drawing up here are these five
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signs and way you're going to place and
now, I want to tell about I want to tell
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you about the five signs okay? Three of
them are going to be like what I drew.
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Let me just real quick, just to remind
you, three of them are going to look exactly
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like this. - Take a picture, Kodak
moment, it will last longer.
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- Screen capture right there, three of them are
getting just like that, one of them is
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going to be a for rent sign and one of
them is going to be a for sale sign.
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Now, why would you want to put a for sale or a
for rent sign on a home that you are
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decidedly going to be doing a
rent-to-own on or lease option?
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It's quite simple, you want to attract the
most people, is it possible that someone
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driving by may see your home and see the
rent-to-own sign have no idea what that
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really means to them because they've
never experienced it before? But they do
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want to rent and if they had a
conversation with you, you could convince
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them to do a rent-to-own. Absolutely, I
don't know any renters by the way, Kris,
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who want to stay renters forever, right?
If you're renting a home, chances are you
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want to eventually buy at some point so
give them an opportunity, get them to come
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in and have a conversation with you, with
the for rent sign and then teach them
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about the rent to own. - Some people are
more open to wanting to buy so they want
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to see the for sale, some people want to
rent and others will see the rent to own
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and so if you look at, there's four sign here,
1 2 3 4 5. - 5 signs. -3 rent to owns, this
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one is on the street, this one is also on
the front of the property, this one is in
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the window or area the same size and then on says
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it's for rent and one says for sale. - Yes
but these are actually here and the rent
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to owns are actually out here.
- Steven details. - It's been a little bit,
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Kris. Look, let me try it one more time,
right, rent owns, rent to owns are these
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outside ones and this one on the house.
- So basically, what we're saying is if
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they see this sign but they come over
here and walk over here, they're going to
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figure out how to get into the house and
they're going to walk around the back
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they're going to see this sign and it's
going to be awesome.
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- Do you want to reuse? - We're
just going to skip it, you guys got it, right?
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- You got it.
- Watch our lips. Now, Steven, these people
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all of a sudden they call you up and
what are you telling these people?
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Now you're going to want to play this one back
and just get a little scripting on this.
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Steven, I'm calling you up, let's
roleplay.
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Hey, I'm calling about your rent to own?
- Oh fantastic! Which home did you
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drive by on? - Well. Yeah, it's the home right Hunt 800
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South.. - Oh, absolutely. It's a wonderful home,
tell me what's your name? - My name is
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Kris. - Kris, excellent. What are you
looking for exactly?
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- Well my, we've just been in a situation
where we're looking to move and I don't
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know maybe exactly what rent to own means but
it sounds better because we actually
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want to be able to get into a house, - Yeah. -
We haven't been able to. So
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what does that program look like? - Great,
well, what kind of bedrooms and bathrooms
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are you looking for? - Well we got four
kids so we're actually looking at like,
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maybe like, a three, four or five bedroom
home. - Okay, great and you know is there
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anything in particular you're looking
for in the home? - You know, honestly, just
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just a good safe neighborhood. I like the
neighborhood that that house is in,
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looked really intriguing, it looked like
a nice house. - Kris, I think this actually
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may be a great house for you. I'll tell
you what, I don't have the numbers with
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me right now but I am going to be at the
home next Thursday evening at 7 p.m.
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I'd love to meet you there and if you
could bring your wife as well, I'll go
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over all the numbers and tell you all
about the home there and I've actually
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got a really amazing program where I
work with people, saving them thousands
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and helping them build towards equity
and buying the home, can you meet me
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there Thursday night at 7:00 p.m.? - Thursday
at seven works! - Kris, wow, thank you so
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much. I'll see you there. - Okay, friends,
it's super easy to take these calls and
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when people call on these signs, what
will end up happening is you want to
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drive them to what we call an open house.
Now you're going to want to show the house
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a couple of times a week and you want to
have other people, all of the showings so
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put it out two or three days in advance,
Saturday morning by the way is always a
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hot ticket because Saturday morning, a
lot of people, that's when they want to
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go house-hunting so you might do
something in the evening on a Tuesday,
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Wednesday, Thursday and then you might
also have a Saturday and if you have
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lots of people calling that crazy, have
more open houses, if you have low traffic,
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we'll talk about what to do there, you
drive them all of Saturday because you
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want to have two, three, four, or five
families all at once, showing up at this
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open house. - Friends, if you market your
lease option this way, I will tell you
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right now, the phone will ring, you will
get people to the open house and you'll
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be in an awesome predicament which is
having a lot of buyers for your one home.
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- Okay, real quick bonus opportunity, you
want to go into the classifieds, go to
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your local Craigslist, your local
KSL's, classifieds, you want to just
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do some research on where people go for
looking at real estate and make sure you
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post an out there, so you want to say,
"house on this avarice 800 South, rent to
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own, super flexible options, call me." It's
basically this same message with a
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little bit more, saying call me so that
you can get some more information about
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that. Post it in as many places because
you'll get phone calls from people
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driving by, you're also going to get in
the help-wanted ads, the real estate
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wanted ads, you're also going to get some
people there as well.
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Sup Kaiser, how you doing buddy?
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Hey, honey. Do you see that camera? Wave to the people,
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you're now famous. Just kidding.
I'm actually shooting a video right now,
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can you go please mom? Thanks dude,
appreciate it.
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Alright, it's a real house and there's
real people in it and that's my, that's
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my number two. I got four kids.
Steven, you got.. - Seven. - Seven so.. - I beat
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him again.
So, yeah cause it's a race.
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Steven's got extra liabilities. - I call them assets.
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- Right. All of them? - They're going to be
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paying for me when I'm what I'm done and
done.
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- Alright. - They're assets. Alright, so
we're all wrapping up here with
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with our marketing of the home, I'll tell
you right now, if you follow the system
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that we just talked about, make your
signs, put them on there, you will start
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to receive phone calls and you're going to
be an awesome predicament which is,
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you're going to sell this property to an
amazing qualified buyer. - In the next
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video, we're going to talk about what do you
do at the open house, we're going to talk
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about how you qualify people, we're going to
talk about how you make a decision on
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who you want to put in the home and then
we're going to talk about what you do for
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contracts and at that point, you're just
about wrapped up, you're ready to collect
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your down payment of three, five, seven,
ten thousand dollars, you're about to
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step in that amazing cash flow and
you're about to be a real successful
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amazing investor, getting ready for how
do I do it again. I guess you could say
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things are getting pretty serious. I mean,
look at all the information we are
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dumping on you and yet you need to come
back and watch part 3, you know why?
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Because we're actually going to talk
about how you do an open house, we're
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going to talk about how you actually
find the perfect tenant, qualify them, get
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them in the house, collect that first
check, it's going to be total awesomeness.
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