ifindproperties.com

 (702) 430-7900

Limestone Investments, LLC
That's right. I saved the best for last. Most lease/option tenants don't make it:
50% of you won't make it because... You give up. About month number six you realize that owning a home is way more than meets the eye. Since you decided that you needed the same lifestyle you had before, you stretch yourself into a house you can barely afford. All it takes is one little hiccup and your world collapses. "I lost my job, my loser boyfriend gambled all the money, my kid got sick, my car broke down..." I get a country and western song every week. 80% of the people I evict are single women.
20% of you extend your contract because... You dilly dally and don't clean up your credit. You keep promising me and everyone else that you will get on it. Next week turns into next month which leads to next year and wham! One year went poof and you are in the same boat you were in before. The good news is that you still haven't wasted your money because most of my partners are willing to extend your option. The bad news is that you haven't made any progress.
20% of you wont make it because... You ignore my warning that you need 3 times the mortgage to make it happen. The new job or company you started doesn't come close to the income needed to qualify for a loan. You had pie eyed dreams that you will be making twice as much as you did last year.
10% of you will make it because... You followed my advice:
1
You started modestly in a home that you had no problem making 3 times the mortgage. As you were looking at properties, you stayed away from the ones that you couldn't afford at the end of the lease.
2
You either hired one of my professional credit cleaners or hired someone reputable to clean up your credit.
3
You didn't tell your boss to piss off. You sucked it up, kept your head low and decided to be patient for the day you qualified for your mortgage and closed escrow.
4
You saved your pennies for the rainy day when the dog got sick and the car broke down. You didn't call me with your country & western song.
5
You avoided the new car lots and jet skis. You hunkered down and stayed focused on staying away from all the traps America has to offer. You finally realized that owning a new car or dining room set won't make you any happier or sexier.
6
You hired one of my professional credit cleanersto work on your credit. You understood that credit cleaning is a constant effort and that I won't be doing the work for you.
7
You frequently chatted with my mortgage broker who specializes in working with my lease/option tenants. You also took her up on her offer of reimbursing your credit cleaning expenses at the close of escrow.
8
You didn't wait until the month your lease expired to get all your paperwork in order. You called or emailed me 4 months prior to your lease/expiration to let me know you are ready to rock.

Investor Information

How does a lease/option work? Your money accumulates to purchase the home.

How does a lease/option work? Your money accumulates to purchase the home.
The money you put down (option fee) and your rent credit is converted to a down payment at the end of the lease. You have a choice of purchase terms: Appraised Value This is the...
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There are really no background checks? That is correct. Money talks.

There are really no background checks? That is correct. Money talks.
My partners and I have discovered that folks you put a bunch of money down with the intention of purchasing a home make better tenants. It will be your responsibility to work on your own credit to get...
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How much money do I need? The Option Fee + First Month

How much money do I need? The Option Fee + First Month
If you have more than half the option fee and the first monthly payment on hand, we can usually work something out. If you don't have enough money on hand, you should select a less expensive property....
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Can I have pets? Yes.

Can I have pets? Yes.
You can have any animal(s) unless there is a condo/town home restriction. Pit-bulls are not allowed. We have no issues with pit-bulls. We love pit-bulls! We don't care how well behaved your pit-bull is....
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Do you accept section 8 vouchers? Yes.

Do you accept section 8 vouchers? Yes.
However, if you don't have the option fee on hand, you are wasting your time. DO NOT CALL ME UNLESS YOU HAVE MONEY ON HAND!
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How long is the lease? You decide.

How long is the lease? You decide.
Most properties are flexible. Unless it's stated on the property page, it can be what ever you want. It is not in your best interest to have a long lease period. The sooner you qualify for a conventional...
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Can I put more money down to lower the monthly? Yes, but it's not wise.

Can I put more money down to lower the monthly? Yes, but it's not wise.
You want to keep money in the bank for a rainy day. You also need to get mentally ready for the mortgage. The monthly payments you see are usually  less than your mortgage at the end of the lease....
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Do I have to get a loan at the end of the lease? Yes

Do I have to get a loan at the end of the lease? Yes
You will want to work with my credit cleaning professional and a mortgage broker with a lot of experience. I will provide you with a list of people you can choose from OR you can use your own people. If...
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What if I don't qualify for a loan at the end of the lease? There will be problems.

What if I don't qualify for a loan at the end of the lease? There will be problems.
You could lose your option fee and/or rent credits. It is important that you actively clean up your credit, make payments on time and make enough money to support the mortgage payments. Each property on...
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What will my mortgage payments be after the lease? Each property lists that amount.

What will my mortgage payments be after the lease? Each property lists that amount.
Every property  shows you "about" what your mortgage will be. Generally speaking you will be paying $800 per $100k of house. A little less if you clean up your credit and make money,...
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Are there tax benefits to these houses during the lease? No

Are there tax benefits to these houses during the lease? No
My partners and I don't want to share the tax benefits and don't want to spend the time creating trust funds with beneficiaries. It's too much of a headache and pretty much set in our ways.
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Do you have "Contracts For Sale" or know someone who does? No

Do you have "Contracts For Sale" or know someone who does? No
As a rule, you will need between 10% - 20% down to get into one of these AND they are really hard to find. Best of luck.
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Can I just do a straight purchase on a property? Maybe.

Can I just do a straight purchase on a property? Maybe.
Most of the properties we own need to be held for a year or so for tax or loan penalty reasons. If you qualify for a straight purchase, you are better off swooping in on a foreclosure than haggling for...
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Can I change my mind about buying the property? Yes. You will lose all your money.

Can I change my mind about buying the property? Yes. You will lose all your money.
The best strategy to take if you change your mind is to proceed through the sale, sell the property after you have secured financing and then take your money after you have sold the property.
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What are my responsibilities during the lease? Utilities + First $500 in Repairs.

What are my responsibilities during the lease? Utilities + First $500 in Repairs.
You are responsible for the first $500 in repairs, all utilities and maintenance of a pool/jacuzzi (if there is one). This means, we are responsible for only major ticket items like AC and roofs. You are...
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Are there any properties not shown on your site? No.

Are there any properties not shown on your site? No.
I have nothing to gain by hiding properties. I built this site because I don't have time to call 700 people every time I add a property. I usually post about 4 properties a week and usually the day I get...
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What prevents you from going into foreclosure and leaving me stranded? Documentation.

What prevents you from going into foreclosure and leaving me stranded? Documentation.
The number one thing you must do with any Lease/Option is to record your purchase agreement with county records. The second thing you can do is have your payments sent through a title company. By having...
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What are my chances of succeeding in the purchase? Less than 10%

What are my chances of succeeding in the purchase? Less than 10%
That's right. I saved the best for last. Most lease/option tenants don't make it: 50% of you won't make it because... You give up. About month number six you realize that owning a home is way more...
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