How to Get an Option to Buy a House‏

I don't like risk. So one of my favorite techniques for making money with real estate
is to just get an OPTION then do a Highest Bidder Sale to quickly find a buyer.

My profit is the difference between my option price and the price I sell the house for.

If I don't find a buyer ( which rarely happens) then I don't lose anything but a little time.
That's because I don't usually pay anything for an option. For consideration, I put down
the use of my marketing, signs, and websites.

Because there are so many motivated sellers these days, it is easier than every to get an
option.

The seller has nothing to lose if you just get on option for 3 - 4 weeks. If they list with a
real estate agent their house will be tied up for 6-12 months.

Many people who are trying to sell now have already tried the real estate route and it didn't
work so they are open to fresh NEW ideas about how to get their house sold quickly.

I'm often asked, "what do you say to a seller to get an option?"

I use a three step approach.

(1) I'm careful to only target sellers who I know are motivated to sell now ( already moved or
one foot out the door)

(2) My first conversation with them is simply to gather information about the house and their
situation

(3) Then I usually tell them that their house just won't fit my buying criteria now HOWEVER I
have another solution which could get their house sold quickly.

That's when I'll tell them about a Highest Bidder Sale.

Sometimes when I'm talking to them about their house I DO determine that buying their house
with some kind of seller financing terms is the best solution. But if not, then I go right in to my
"speech" about how I can solve their problems a different way.

It's always good to have a PLAN B and a PLAN C.

If I can convince the seller to sell with seller financing I may STILL get an option and not close
until I find a buyer who has a good down payment, work history, and good credit.

That was one of Jack Miller's favorite techniques.

Or, I might do a Highest Bidder Sale for the DOWNPAYMENT only. The sales price is fixed and
the buyers are just fighting over who will give me the most down payment.

These are a lot of fun! I end up with a chunk of cash with the down payment and a nice cash
flow too with the difference between the underlying payment and what I collect from my buyer
each month.

I like multiple paydays.


At the CashFlowDepot Convention May 22 - 24th in Vegas I'll go in to greater details about how
to get options, what I say, how I handle seller questions, and .... How I often get the seller to

PAY ME to take an option on their house.

I'll also be doing a presentation about how to have a successful Highest Bidder Sale. It's the
quickest and easiest way to get houses sold fast and for TOP DOLLAR

Options are a risk free way to make money. They require no cash, no credit, no fix up, and no
loans. You need to learn how to control real estate without risk by using options.