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Crazy Sh*t In Real Estate with Leigh Brown

Crazy Sh*t in Real Estate!—a podcast that will shatter the HGTV-induced veneer of real estate, and celebrate the challenges of working in this wild, wacky business.
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Crazy Sh*t In Real Estate with Leigh Brown
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Now displaying: Page 1
Feb 11, 2021

There’s a different way to look at financing for real estate that you may not have considered. Zachary Beach, a real estate coach and the COO of Smart Real Estate Coach, breaks down all things lease purchase agreements and when they might be a good fit for a buyer and seller. Listen in to hear Zach share how they make sure lease purchase agreements are successful, how they saved a buyer when traditional financing fell through, and how he used one for his own very first property.

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting https://leighbrown.com. If you’re tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes:

  • 01:00 - Introducing Zachary, a real estate coach and the COO of Smart Real Estate Coach who lives in Rhode Island
    • 03:15 - He was a bartender and personal trainer out of college; his father-in-law was an investor and helped him after he got burnt out from what he was doing
    • 04:10 - He’s been in real estate for over six years and now has a coaching business, too
    • 04:40 - He’s only been involved in creative financing; he doesn’t know why the traditional route of financing can be so complicated
  • 05:45 - How he breaks down lease purchases
    • 06:05 - They ensure buyers and sellers are successful in the transaction, which isn’t always the case; they have a high conversion rate
    • 06:50 - They have systems and processes to make sure people are successful; the options they offer usually work unless you need your property’s equity immediately
  • 08:55 - On owners getting “locked-in” to a lower price through a lease purchase agreement
    • 09:10 - No one knows what the market is going to do; he offers a solution and recognizes that it’s not a good option for everyone
    • 11:00 - ⅓ of properties in the US are free and clear; so that is a great market for a lease purchase agreement
    • 12:15 - These types of agreements can work with buyers who don’t have perfect credit, need seasoning, or have other factors impacting their ability to buy today
    • 12:40 - Zach bought his first house on a lease purchase agreement
  • 13:25 - On changing bank regulations
    • 14:00 - The bank changed regulations to qualify for a property at the last minute and a guy that had 20% down, 750 credit score, and 6 months of reserves lost a traditional deal
    • 14:15 - They fixed the situation with a lease purchase agreement and all he needed was 6-12 months to build up his reserves so he could get a loan
  • 15:55 - How to find Zachary: go to www.smartrealestatecoach.com/webinar and get their free book

3 Key Points

  1. Make sure you’re working with someone who cares to see your success.
  2. Lease purchase agreements can be a creative way to own a home down the road.
  3. Lease agreements aren’t always the solution.
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