Want a significant income boost without relying on your boss’s approval? It’s achievable. Instead of requesting a raise, create one for yourself through creative real estate strategies, specifically lease purchasing. Many view lease purchasing as a perfect home-based business. The same principles can generate substantial extra income in your free time. Ask yourself: “What am I willing to do to earn an additional $20,000 annually?” Lease purchasing might be the answer.
Consider Sue’s approach. Out of every 100 calls made on For Sale By Owner properties, she connects with approximately 60 individuals, introducing them to lease purchasing. Of these 60, about 10 become genuine prospects, leading to 2-3 properties suitable for acquisition. The remaining prospects may turn into consultations or direct sales. While these numbers fluctuate based on location and market conditions, the potential is clear.
Does this sound demanding? Not necessarily. Distribute the calls over three months, aiming for roughly one deal per quarter. This translates to a $20,000 annual raise by securing a $5,000 average assignment fee per deal. Four deals at $5,000 each equals $20,000. This is a realistic and potentially conservative estimate. With experience, you might close five, six, or even more deals annually.
Success hinges on understanding deal structures, utilizing proper contracts, and possessing the drive to increase your income. Information on these resources is widely available. Embrace the “crazy like a fox” mentality and take control of your financial future.