BMV or Not BMV, That Is The Question!

We've discussed the two important elements of the Motivation Triangle - motivation and time. The third thing that makes up the triangle is capacity.

After we've established the "willingness" of the seller to sell the property to you, we need to establish the "ability" for this seller to sell the property. For example, the questions we need to ask are:

How much equity is there in the property?

Does the seller need a lump sum of cash to move on? If so, how much?

The way we structure our deals depends largely on the answers to the above questions. If there is little or no equity, buying the property BMV is out of the question so using a lease option may offer a solution.

If the seller won't consider BMV or lease options and the property has plenty of equity, you might ask the seller if he / she is willing to accept part cash now and part later. Other strategies we could use are "part cash, part option" or "BMV option". These are just some of the strategies we teach on our Apprentice Day Unlimited

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So if you're not too sure what to say during a conversation with a seller, just remember the Motivation Triangle and try to "uncover" as much information as possible.

Best regards,

John and Vincent