Tired of waiting for your boss to approve a raise? What if you could give yourself a significant income boost without relying on traditional employment? It’s more attainable than you might think. Discover the power of creative real estate, specifically lease purchasing, and how it can potentially add $20,000 or more to your annual income.
Lease purchasing, often considered an ideal home-based business, offers a flexible way to generate income in your spare time. To quantify, what actions are you willing to take to secure an additional $20,000 annually? This isn’t about drastic career changes; it’s about exploring the potential of lease purchasing.
Consider this scenario: For every 100 calls made to For Sale By Owner (FSBO) properties, approximately 60 result in conversations or messages left, introducing the concept of lease purchasing. From those 60 initial contacts, around 10 typically emerge as genuine prospects. Of these 10 prospects, 2 to 3 might evolve into properties suitable for lease purchase. Others could lead to valuable consultations or direct sales.
While these figures may fluctuate based on your location and current market dynamics, the underlying principle remains consistent. It might sound like a substantial workload, but consider spreading those calls over three months, averaging just one call per day. This strategy aligns with the goal of completing one deal per quarter.
How does this translate to a $20,000 annual raise? In a typical single-family home lease purchase, an average assignment fee of $5,000 is common. Completing four such deals annually yields $20,000.
Is this a realistic target? Absolutely. In fact, it might even be a conservative estimate. With experience and dedication, you could potentially complete five, six, or even more deals per year. The key lies in understanding how to structure deals effectively, utilizing the appropriate contracts, and possessing the drive to increase your income.
Creative real estate offers a tangible path to financial empowerment. Unlock your potential and take control of your earnings.