Questionnaire To Screen Tenant/Buyer

Get your broker to pre qualify them. You don't want to put some one in there that has no chance of becoming a buyer, right? How is any script going to provide proof of a tenants/buyers capability to do the credit repair or save enough of a down payment to get a loan and become a buyer?

Thinks about your strategy, think about what you will need to TELL your prospect he/she will need to do in order to qualify for your program. What option payment is required and the monthly rent first of all! If they can't pay the option or the monthly lease that screens them out real quick! They HAVE to want to be homeowners and must know they are coming into this deal and will have all the responsibilities of a homeowner. They need to what to BUY the property and under stand that is what they will be doing.

Finally, if you don't have a property you don't need to worry about this. Tenant/buyers are EASY to find. It is the seller/property that will work with this strategy that is the hard thing to find. Worry about acquisition, get it, advertise it on Craigs list and you will have 20 callers in the first 24 hours!

Michael Mangham
MD Home Acquisitions LLC

I'm not working with a broker. My partner and I have a property that's under contract right now. I have a few questions in my questionnaire but, I would like to see what questions everyone else is using. I have been getting many calls and I'm still getting calls. But, what other questions should I ask?

1. What can you afford for the option payment?
2. What can you pay monthly?
3. I will have to put you together with my broker. What is the best time for him to call.
4. When can you move in?
5. Do you want to own this property?
6. You understand this is not a rental, but a lease to own deal right?

I assume you are doing a lease with option to purchase right?

Travis, how many people on this site do you think have actually done a L/O deal and done it the right way?? Everyone is an expert on what a script should say yet they have zero L/O deals done. Figure out what you need to know and ask!
You can not do L/O deals properly with out your broker pre qualifying your tenant/buyer. Get one!

Michael Mangham
MD Home Acquisitions LLC

We have a property that we're going to do a month-to-month rent and if we don't get someone to rent it or not we're still going to sell it.

What happened with this deal? Michael has a lot of valid points, too. I've heard of a few people who don't care what their credit is, or if they can buy the house down the road in 1-2 yrs., but that's their prerogative.