Conversion of Buy and Hold to Wrapped

From: Duncan M


Just curious, does anyone have any experience with converting a large Buy and Hold style portfolio to a Lease/Optioned or Wrapped Portfolio? Specifically the angle to take with the existing tenant in making an offer of a purchase.. Interested in the success of converting Died in the Wool tenants to Owners, etc..


Regards,

Duncan

 
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Reply: 1
From: J Parker


I don't have any experience here Duncan, but a few thoughts spring to mind:

1. Firstly, ring and ask the current tenants if they would be interested in buying from you, as you're looking to sell and wanted to offer them the first option? Explain seller finance and just see if they're interested- you just never know!

2. People who really want to own their own home are going to be more motivated than tenants who have accepted it as a way of life, and don't have any desire to become owners. Not everybody actually wants to maintain the property they live in, despite it meaning they are missing out on capital growth! Be sure that you sell to motivated people who are dead keen to own their own place.

Let us know how you go.
Cheers, Jacque :)
 
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Reply: 2
From: Michael G


Hi,

try www.mrlandlord.com and www.creonline.com both have good articles on what you wish to do, ideas, tips etc

Michael G
 
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Reply: 3
From: Gunna Doit


Hi Duncan
Can't help you with your question, but I just LOVE your dancing man!!!!
gunna
 
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Reply: 3.1
From: Geoff Whitfield


The dancing man's face has, I think, changed from an ordinary face to a smiley.

Duncan, who performed the surgery?
 
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