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My First Book

Through 8 chapters.

Almost called in sick today so I could keep reading and find out if Tim defeats the dark lord at the end...


Seriously, this is a really valuable book. Things are spelled out in a simple, clear, ordered way that makes it accessible to everyone.

Mike
 
LOL

Thanks Mike appreciate that I am the cause of lost work days


Zander have you gotten your copy yet?

Regards,
 
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
 
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,
 
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
 
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
 
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,
 
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
<







The book arrived Monday morning.



So it is fast!
 
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?
 
QUOTE (PaulW @ Feb 7 2010, 09:18 PM) You could sell ally more books if you could sell as an snook

Guess I didn`t spell check that on my Iphone before I sent it.

You could sell alot more books if you could sell as an ebook (download from your site)
 
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,
 
Mark,
I have read your book cover to cover (more than once!) as I take it along to my sons` sporting events. I have had so many people stop to ask about your book and inquire how to get one. So sales should keep on going here in Edmonton! Congrats again on the wonderful book.
 
Thanks Kelly,

I appreciate the help towards being a best selling author.

Regards,
 
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