The Ten Commandments of Lease Purchasing!
By: Claude “Holy Moses” Diamond
The one thing I can’t stand about my Guru competition is their lack of humor. If you don’t believe me then ask fictitious character Johnny t.g Reed . If we have half the financial success and dream life that we are talking about, then a little self deprecating humor should be easy to swallow. (May I have an Amen, please?)
I figured it was time that we Lease Purchase Real Estate Investors had our own set of simple and common sense commandments. What follows is a set of rules for successful, innovative real estate investors to avoid costly mistakes, to increase profits and to give me a great title for another irreverent issue (11 years) of The Lease Purchase Times©. So here goes:
1. Thou shalt go into business to Make Money, have fun and feel great about thyself, otherwise just keep the job.
2. Tenants, Terlits, Evictions and Repairs are abominations and Thou shalt avoid them like the plague.
3. Thou shalt not kill your profits by overspending on unproductive marketing and stuff that collects dust.
4. Thou shalt no longer covet other investors’ crummy homes in yucky neighborhoods.
5. Thou shalt not steal a deal when the seller is willing to reasonably negotiate.
6. Thou shalt use Lease Purchasing to control, rather than own and have liability.
7. Thou shalt not use the name of the bank in vain when thou can become the bank.
8. Thou shalt learn about sales, marketing and negotiation.
9. Thou shalt have fun and feel great, while going to your bank.
10. Thou shalt take thine Profits and rest on Fridays, Saturdays, Sundays & Mondays.
11. Thou will honor thy Mentor and thy Mentor shall honor you.
Moses Note: (Ok Ok, I know it’s supposed to only be 10, but one fell off the tablet on the way down the mountain!)