May 1, 2019

A Q&A Session with Ron LeGrand, Part 2

Episode 49:

This week’s episode of The Mentor Podcast is the second part of Ron’s Q&A series, where he answers questions from his students and mentees. Ron uses his immense experience in real estate to help guide these students through some of the difficulties they are facing in their real estate deals.

What you’ll learn about in this episode:

  • Louis asks: should I convert my rental townhouse with existing tenants to a lease option or owner financing? Ron explains why he never rents a house and will only put a lease option tenant buyer into a house. Ron gives Louis a recommendation to offer the opportunity to buy the townhouse to the tenant, with a non-refundable option deposit.
  • Lenny asks: what is in your $99 full day recording, and how can I get access to it? Ron answers that it contains content from a seminar he gave a few months ago in Jacksonville, and he explains that it can be found at www.ronlegrand.com/gc99 for instant access to the course.
  • Glen asks: did I make a mistake offering my seller $30,000 at closing, and what should I do about the payments I’m making her on her other property I’m buying? Ron advises Glen to make monthly payments to the seller until the underlying loan is paid off, and to offer $40,000 cash instead of monthly payments against the $75,000+ debt Glen is paying her on her second house.
  • Louis asks: why shouldn’t I go with owner financing on my rental townhouse? Ron answers that owner financing means Louis will be giving up the value of owning the real estate without any benefits over a lease purchase option.

Additional resources:

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