"How to Sell Lease Purchase Deals to Landlords/Sellers"

by James Gage

People sell their homes for various reasons. Some of which include, but are not limited to:

1. Job transfer. 2. Making two mortgage payments. 3. Trade up to a bigger home or better neighborhood. 4. Tired of managing properties. 5. Moving in with a significant other. 6. Divorce. 7. Lost job or income and can not make the payments. 8. Physical problems with the property that they do not have the ability or time to repair. 9. Etc...

MOTIVATION is the key when dealing with Landlords/Sellers. If you can find out what motivates people, you can strike a great deal with them. Your goal is to find out what needs they have and satisfy them.

If they are a landlord and are sick of renting out that house and fixing leaking toilets at two in the morning, you can offer them something that will fill their needs. You can offer them a friendly way of selling that property over time for a price they can live with and with none of the landlord hassles. I spent the last nine years as a landlord and to be honest, there were plenty of times that if one of you called me up and offered to take all of my properties off my hands I would have jumped at the chance.

Landlords are a key source of deals. Many landlords are not as sophisticated as you might think. Many of them inherited their properties or just have homes that they had trouble selling so they decided to rent them out. The key when dealing with landlords is to let them know from the beginning that you just want to help them solve their problems and make some money in the process. Make them understand that it is a one-sided partnership. You are agreeing to do their work and still give them the money that they want for the property. If it doesn’t work out in a year or two, they can have their property back plus keep the option money. If they rent it out, they will still have to worry about replacing the carpeting and painting when it turns over. They really are in control of the process.

Let them know the advantages available to them. The reality is that what you are doing is limiting the landlord's risk and at the same time accomplishing what a real estate broker and property manager would. You are taking a small part of the monthly rent and making a small percentage of the total sales price at the end of the deal. If the house doesn't sell, they get to keep what you have into it. No real estate broker in the country would do for them what you can.

I define selling as the art of fitting a persons needs to a product or service and educating them on its utility. I suggest that when you approach a Landlord/Seller that you project a sense of confidence that you know that this is what will work for both them and for you and that you explain the benefits. I find that in order to build trust between the person I am selling to and myself, I need to discuss the drawbacks. If you do not talk about the drawbacks, the Landlord/Seller will spend hours trying to find out how this deal might be bad for him. You want him to know right up front what the drawbacks are and then you can discuss these issues together and work out solutions.

We are all in this business to make money, but you will find that if you come off as trying to make a buck, you will look like a cheat. I like to think of myself as a creative problem solver. . When people call me I immediately go into a mode of discovery. What does this person need? What do they have? What is keeping them from getting what they need? What do I have that can help in this situation. Sometimes I talk to someone and find out that their best answer does not involve me. . I know that I probably lose deals that way, but I know that I have built some good relationships and will get referrals down the line from some of these people. Remember no today doesn’t mean no tomorrow- always keep your options open along with lines of communication.

Is Leaes Purchase Investing For Everyone?

By James A. Gage

The obvious answer most individuals would say if polled is no! But I believe the better question is - why not?
Let’s look at why I believe everyone should employ this strategy for real estate investing, whether as a novice or seasoned professional. Let me pose a question: Why do we get involved in real estate investing? To make money of course. However, there is a myth circulating within the investing community that traditional real estate and creative real estate investing has minimal risk. Nothing could be further from the truth- let me explain.

I have been involved in real estate and other forms of investing for over 20 years and I can say without hesitation that all investing has risk, some more than others that being said there is always one exception to the rule, in this situation it’s Lease Purchase. You receive all the benefits of control of the property without ownership- how can you beat that scenario? If the deal doesn’t pan out the way you thought it would or the market turns against you in the future, thus turning a profitable transaction into a potential negative one you can walk away without losing hundreds of thousands of dollars. How? Because you have not invested that kind of capital in the first place. We, as smart lease purchase investors construct are contracts with iron clad terminology which provides us with escape options.

Lease Purchasing, AKA Rent To Own is the ultimate creative real estate niche strategy and can be used to control single family homes, condos, town homes, mobile homes, land and multi-dwellings. This strategy can also be used on foreclosures, probate, tax lien property and in place of low or no money down strategies. We can use this strategy in a up, down or side ways market while commanding 15%-20% above market rents and selling prices. The best part of this great strategy is I can give full price offers if I so choose and still make money. Do you think this alone will cause you to secure more deals?

In conclusion, I hope you can see the power of lease purchasing as I did many years ago this is truly real estate investing leverage at its’ best.

James A. Gage. is a best-selling author and internationally-known expert in Lease Purchase, AKA Rent To Own Real Estate Investing and Negotiating. He Mentors One-On-One throughout the U.S. and across the world. James is also director of the Gage Consulting Group, LCC , 800 Main Street, Suite 104 Holden, MA 01520 .

Tighter mortgage market shuns bad credit

Hello All:
I'm posting this article to emphasis what I have been saying for 15 months now- lease option investing is going to explode due to the sub-prime melt down. When people can't get financed due to challenged credit , they have 2 choices- 1. Rent or 2. Lease option.
Be well,

James Gage

By JANET FRANKSTON LORIN, Associated Press Writer Sun May 6, 2:09 PM ET

With a second child on the way, Chris Shields and his wife, Michelle, wanted to move from their two-bedroom apartment in Southern California to a house with more space.

But because their timing coincided with a shakeout in the mortgage market earlier this year, their credit now isn't good enough to get a loan to purchase the house they wanted with no money down.

Rising interest rates and dropping home prices have squeezed a market that had been propped up by risky loans and easy credit during the housing boom. As mortgage bills came due, foreclosures rose, and the easy credit dried up for families like the Shieldses.

"Now we're stuck in the apartment," said Shields, 31, a firefighter who lives in Manifee, Calif. His wife gave birth to baby Gabriella at the end of March, and they are running out of space without options for a house.

These mortgages, also called "subprime," opened up homeownership to people who otherwise couldn't buy houses because they had weak credit or little money for a down payment.

Unlike traditional 30-year fixed mortgages, these loans are often adjustable, and payments grow with rising interest rates. The nontraditional loans allowed homeowners to borrow large amounts thanks to low initial "teaser" rates, piggyback loans split into two mortgages, or interest-only payments.

In the past, lenders didn't want to give mortgages to people with below-average credit because it was risky, said Kathe Newman, a professor at Rutgers University in New Jersey who has studied the subprime market and foreclosures.

But the explosion of a secondary market for repurchasing mortgages provided more cash to lenders, and investors were willing to take bigger risks. Technology, such as automated credit scoring, also allowed lenders to quickly assess risk, she said.

This year, the volume of subprime mortgages is expected to drop by about 30 percent, said Jay Brinkmann, vice president of research and an economist for the Mortgage Bankers Association in Washington, D.C.

Over the last few months, Louis Allee, a mortgage broker based in Whittier, Calif., said he has seen fewer clients qualify for 100 percent home financing. More potential home buyers also are having to prove their incomes, and they must show they have the equivalent of several months' mortgage payments in their savings account.

LaVerne Jackson, who sells homes for Century 21 south of Newark, N.J., said the mortgage situation is slowing her business.

In early March, one of her clients was set to close one afternoon on a $320,000, four-bedroom home in Linden, near Newark Liberty International Airport. But the deal was canceled abruptly just hours before closing when the buyer's mortgage company shut its doors, she said.

Jackson said the housing market will suffer as buyers work to establish better credit.

"They will have to do a lot of credit repairs before they can qualify," Jackson said. "It also means the houses will sit a little longer."

New Jersey in April barred two companies, Atlanta-based SouthStar and LoanCity of San Jose, Calif., from doing business in the state because they lost financial backing and weren't able to fulfill existing loan obligations, said Jim Gardner, a spokesman for New Jersey's Department of Banking and Insurance.

The month before, the state also barred New Century Financial Corp., which pulled funding for 59 home loans and eight with the company's Home123 Corp. unit that had already closed. The loans have since been placed with other lenders, Gardner said.

Irvine, Calif.-based New Century had taken an additional 451 applications that did not close and Home123 had 293, and they have been directed to other mortgage companies.

The shakeout of the market could have positive benefits, some housing advocates say. Ira Rheingold, executive director of the National Association of Consumer Advocates, said people won't qualify for loans they can't afford.

"People will have the opportunity to buy homes they can sustain, not the absurdities we've been seeing," he said. "What's going to happen is only good for homeowners and consumers."

Some people who got into trouble with loans they couldn't afford have since refinanced with better rates.

Osvaldo Rodriguez, a 40-year-old postal worker, purchased a three-family house in Newark last June with about $1,000 down and $300,000 broken into two mortgage loans. His monthly payment was about $2,200 and rising, more than he could afford on an annual income of about $60,000, including veterans disability payments.

"It was tight, very tight," he said, sitting on a couch with a clear plastic slipcover in his living room. "I was paying it, but I was kind of struggling."

Rodriguez's home didn't go into foreclosure because he sought help from ACORN Housing Corp., a housing advocate. He said he had a good credit rating, and he recently refinanced to a lower mortgage rate from a bank, which made his payments more affordable. He also now has tenants to boost his cash flow.

Other borrowers haven't been as lucky.

Deborah Beatty recognizes that she and her family could lose their home in Jersey City, N.J., across the Hudson River from New York, because they can't afford the mortgage. The newly constructed three-level home offers a view of the Manhattan skyline and the Statue of Liberty from Beatty's master bedroom window.

"I'm going to miss that," said Beatty, 53, who collects disability payments and does not work. "When I come in, I like to see the lady (the statue), especially when it's a beautiful clear night."

Her 29-year-old daughter, a graduate student with an annual income of less than $20,000, qualified for a mortgage of $600,000 with no money down, split into two different loans at 8.75 percent and 12.5 percent interest rates.

With income from tenants, which didn't come right away, Beatty's daughter thought she could afford monthly payments of nearly $5,000.

But she hasn't made a mortgage payment in more than three months, and she's receiving letters threatening foreclosure.

Beatty's daughter had to take out a nontraditional loan because she would not have qualified to borrow that much money through a traditional 30-year-fixed mortgage, said Judith Brzuskiewicz, a loan counselor with Citizen Action, a nonprofit advocacy group that is helping the Beattys and other families avoid foreclosure.

Beatty acknowledged the mortgage was probably too good to be true, and now her house is on the market. The family wouldn't be able to afford buying another house and would likely rent, she said.

"It's embarrassing," Beatty said. "It hurts your pride, your respect."

Tighter mortgage market shuns bad credit

Hello All:
I'm posting this article to emphasis what I have been saying for 15 months now- lease option investing is going to explode due to the sub-prime melt down.
Be well,

James Gage

By JANET FRANKSTON LORIN, Associated Press Writer Sun May 6, 2:09 PM ET

With a second child on the way, Chris Shields and his wife, Michelle, wanted to move from their two-bedroom apartment in Southern California to a house with more space.

But because their timing coincided with a shakeout in the mortgage market earlier this year, their credit now isn't good enough to get a loan to purchase the house they wanted with no money down.

Rising interest rates and dropping home prices have squeezed a market that had been propped up by risky loans and easy credit during the housing boom. As mortgage bills came due, foreclosures rose, and the easy credit dried up for families like the Shieldses.

"Now we're stuck in the apartment," said Shields, 31, a firefighter who lives in Manifee, Calif. His wife gave birth to baby Gabriella at the end of March, and they are running out of space without options for a house.

These mortgages, also called "subprime," opened up homeownership to people who otherwise couldn't buy houses because they had weak credit or little money for a down payment.

Unlike traditional 30-year fixed mortgages, these loans are often adjustable, and payments grow with rising interest rates. The nontraditional loans allowed homeowners to borrow large amounts thanks to low initial "teaser" rates, piggyback loans split into two mortgages, or interest-only payments.

In the past, lenders didn't want to give mortgages to people with below-average credit because it was risky, said Kathe Newman, a professor at Rutgers University in New Jersey who has studied the subprime market and foreclosures.

But the explosion of a secondary market for repurchasing mortgages provided more cash to lenders, and investors were willing to take bigger risks. Technology, such as automated credit scoring, also allowed lenders to quickly assess risk, she said.

This year, the volume of subprime mortgages is expected to drop by about 30 percent, said Jay Brinkmann, vice president of research and an economist for the Mortgage Bankers Association in Washington, D.C.

Over the last few months, Louis Allee, a mortgage broker based in Whittier, Calif., said he has seen fewer clients qualify for 100 percent home financing. More potential home buyers also are having to prove their incomes, and they must show they have the equivalent of several months' mortgage payments in their savings account.

LaVerne Jackson, who sells homes for Century 21 south of Newark, N.J., said the mortgage situation is slowing her business.

In early March, one of her clients was set to close one afternoon on a $320,000, four-bedroom home in Linden, near Newark Liberty International Airport. But the deal was canceled abruptly just hours before closing when the buyer's mortgage company shut its doors, she said.

Jackson said the housing market will suffer as buyers work to establish better credit.

"They will have to do a lot of credit repairs before they can qualify," Jackson said. "It also means the houses will sit a little longer."

New Jersey in April barred two companies, Atlanta-based SouthStar and LoanCity of San Jose, Calif., from doing business in the state because they lost financial backing and weren't able to fulfill existing loan obligations, said Jim Gardner, a spokesman for New Jersey's Department of Banking and Insurance.

The month before, the state also barred New Century Financial Corp., which pulled funding for 59 home loans and eight with the company's Home123 Corp. unit that had already closed. The loans have since been placed with other lenders, Gardner said.

Irvine, Calif.-based New Century had taken an additional 451 applications that did not close and Home123 had 293, and they have been directed to other mortgage companies.

The shakeout of the market could have positive benefits, some housing advocates say. Ira Rheingold, executive director of the National Association of Consumer Advocates, said people won't qualify for loans they can't afford.

"People will have the opportunity to buy homes they can sustain, not the absurdities we've been seeing," he said. "What's going to happen is only good for homeowners and consumers."

Some people who got into trouble with loans they couldn't afford have since refinanced with better rates.

Osvaldo Rodriguez, a 40-year-old postal worker, purchased a three-family house in Newark last June with about $1,000 down and $300,000 broken into two mortgage loans. His monthly payment was about $2,200 and rising, more than he could afford on an annual income of about $60,000, including veterans disability payments.

"It was tight, very tight," he said, sitting on a couch with a clear plastic slipcover in his living room. "I was paying it, but I was kind of struggling."

Rodriguez's home didn't go into foreclosure because he sought help from ACORN Housing Corp., a housing advocate. He said he had a good credit rating, and he recently refinanced to a lower mortgage rate from a bank, which made his payments more affordable. He also now has tenants to boost his cash flow.

Other borrowers haven't been as lucky.

Deborah Beatty recognizes that she and her family could lose their home in Jersey City, N.J., across the Hudson River from New York, because they can't afford the mortgage. The newly constructed three-level home offers a view of the Manhattan skyline and the Statue of Liberty from Beatty's master bedroom window.

"I'm going to miss that," said Beatty, 53, who collects disability payments and does not work. "When I come in, I like to see the lady (the statue), especially when it's a beautiful clear night."

Her 29-year-old daughter, a graduate student with an annual income of less than $20,000, qualified for a mortgage of $600,000 with no money down, split into two different loans at 8.75 percent and 12.5 percent interest rates.

With income from tenants, which didn't come right away, Beatty's daughter thought she could afford monthly payments of nearly $5,000.

But she hasn't made a mortgage payment in more than three months, and she's receiving letters threatening foreclosure.

Beatty's daughter had to take out a nontraditional loan because she would not have qualified to borrow that much money through a traditional 30-year-fixed mortgage, said Judith Brzuskiewicz, a loan counselor with Citizen Action, a nonprofit advocacy group that is helping the Beattys and other families avoid foreclosure.

Beatty acknowledged the mortgage was probably too good to be true, and now her house is on the market. The family wouldn't be able to afford buying another house and would likely rent, she said.

"It's embarrassing," Beatty said. "It hurts your pride, your respect."

Seven Traits of Highly Successful Investors (Do You Have Them?)

By James A. Gage

I read recently that of the people who become landlords, roughly 85% of them file for bankruptcy after five years.

Why the sky-high failure rate? After mentoring new investors for roughly 16+ years, I know it's because people go into real estate investing with "pie in the sky" expectations that don't pan out.

We all know about the late night talk show gurus who promise you can become a millionaire overnight using their "proven" tactics. The fact is, however, that what separates the successful investors from those that fail isn't luck or fortune or hard sell tactics.

What makes people successful is hard work . . . with a little luck thrown in. I know that isn't what you want to hear, but the truth of the matter is that successful real estate investors don't need to watch late night TV gurus because they've taken to heart - and continually practice - the following seven traits:

Trait # 1: Successful investors prepare themselves mentally.

It's easy to get caught up in the hype regarding real estate investing. You hear or read the stories of people becoming millionaires almost overnight - and you want a piece of the action, too. Tomorrow, preferably.

A new investor, believing the hype, becomes impatient and foregoes preparation and education. He then ends up in over his head with his first deal, and when it goes sour, he blames it on the guru who sold him a bum rap.

Savvy investors, on the other hand, patiently lay a solid foundation. They take the time to educate themselves about real estate, financing, and negotiation. When that first deal comes along, they're mentally and knowledgeably prepared to ride out the inevitable ups and downs.

Trait #2: Successful investors work with mentors.

Real estate investing requires skill, patience, and street-savvy knowledge - knowledge you won't get from a guru who has written a best-selling book but hasn't practiced in years.

No matter what their experience level, savvy investors work with experienced coaches, mentors, or investors who can help them reach the next level. They also choose their mentors and coaches wisely - preferring to work with those who actively practice their craft.

You can either pay a coach or mentor to work with you or you can partner with successful investors. Either way, you want to find someone who is actively practicing what you want to accomplish and model your behavior after him or her. (Note: Experienced investors can smell couch potato investors a mile away. So have your game plan in-hand and be ready to get to work.)

Trait #3: Successful investors never give up.

It's a negative world out there - and your spouse, co-worker, or relative can destroy your confidence and drive with statements such as, "What you're doing is sleazy," or "You'll never become wealthy - you don't have the ambition."

Even worse is your own negative self-talk - especially if you're tried real estate investing in the past and weren't successful or if you have yet to close a deal. Beating yourself up is debilitating. The louder your negative self-talk, the easier it is to second-guess yourself and/or not proceed to the next step.

Successful investors know past events don't determine future out comes. They keep a positive mental attitude and consistently work toward their goals even when faced with negative outcomes or criticism. They know that a "no" today doesn't mean a "no" tomorrow. In short, they don't give up.

Trait #4: Successful investors work consistently.

One of the biggest mistakes new investors make is assuming that real estate investing is a 100-yard dash - when it's really a 26-mile marathon.

A new investor, for example, will attend a training course and come out pumped up and ready for action. After putting in a few 40-hour weeks with no results to show for his efforts, the newbie investor becomes burned out and ends up quitting within three months.

Investors who have achieved success, on the other hand, have learned that consistency is what matters. Whether they work 20 minutes a day or 20 hours a week, they devote time to their craft on a regular and consistent basis. Doing so ensures they keep up their momentum and drive - which is why they're ready when that deal they've been waiting for "magically" appears.

Trait #5: Successful investors invest in themselves.

Consider golf pro Tiger Woods: although he's won the PGA Masters three times, plus dozens of other championships, he didn't decide to slow down and coast on his success. Instead, he recently worked with a coach to make his golf swing more efficient. He's now the #1 ranked golfer in the world.

No matter how successful you become, you must continually invest in yourself. Like Tiger Woods, successful investors continue to attend seminars and conferences, network with other investors, read books, and work with coaches or mentors to help them reach the next level in their game.

Trait #6: Successful investors understand Return on Investment (ROI).

It's a fact: entrepreneurs are often times the worst business people - meaning they have the vision needed to get a business up and running but lack the practical application for making sure it becomes profitable. (This is why eBay has Meg Whitman at the helm, not the original founder.)

Ditto for real estate investors. How often have you heard someone brag, "I put hundreds of hours into this deal!" - as if spending all that time is a good thing. If you spent hundreds or thousands of hours putting together a deal, and your profit is only $5,000, then you're not making much more than the person flipping hamburgers.

Experienced investors know that calculating a deal's ROI is crucial for ensuring future success. They keep track of their time and the funds spent/earned to ensure their business remains profitable.

Trait #7: Successful investors have a financial plan.

Once you start generating cash flow from your investments, it's very easy to fall into the trap of spending money - especially if you lived frugally in order to build your investment business. Dinners out, fancy vacations, and a spiffy new car can wreck havoc with your bank balance.

Instead of spending your money, take a tip from successful investors and work with your accountant or financial planner to develop a plan. Your financial plan should allocate monies that support your lifestyle and family, investments in yourself and/or your business, savings for future endeavors and retirement, and donations to your favorite charities.

If you're serious about wanting to be successful at real estate investing, consider how you can change your routines and habits. Like dieting or anything else we do to improve ourselves, the key to success is consistency and most importantly, action! Study these traits and put them to work in your investing business - you will see results. You'll also get to bed a whole lot earlier.

Why People Are Not Successful In Real Estate

By James A. Gage, www.jgage.com

Have you ever wondered why most people are not successful in Real Estate or achieve very limited results? All Real Estate techniques and strategies have a learning curve, even Lease Purchasing, AKA Rent to Own which I believe is the only way to control Real Estate. That being said, after you have grasped the strategy or the technique you want to implement - what now! The easy part was learning about the strategy, now comes the hard part which is Negotiating the deal. You can go to all the seminars, buy all the books and tapes on Real Estate investing and still fall flat on your face or come out on the short end of the stick - costing you time and money.

OK, OK if rah rah seminars, boot camps and positive thinking don’t work, what does? What's the SOLUTION?

Why doesn't conventional Negotiating training work ? Why is it that most people who attend Negotiating training courses and seminars show very little sustained improvement? Why doesn't modern Negotiating training consistently produce successful individuals? Why do most people do their best to avoid investors?

Is this all endemic to negotiating or is there something fundamentally wrong with the way we negotiate that causes these problems? Could it be that Negotiating as the Art of Persuasion is a concept whose time has come and gone?

The answer is YES!

There are methods that literally allows the user to leap ahead and learn quickly and become profitable, thereby eliminating all the usual wrong turns and costly mistakes that others make. You must learn to Negotiate from someone who has used it not only as an investor (with success), but someone who has implemented it professionally as a source of primary income. Negotiating can never be taught from seminars or books, but rather it needs to be accomplished not with generic scripts and theories, but with real world experiences and role playing.

Negotiating is truly the “Million Dollar Skill".

Seller Objections To Lease Purchase

By James A. Gage, www.jgage.com

A large percentage of the mail we receive are from people that complain that sellers don't want to do a lease purchase, they just want to sell their house. Or sellers come up with too many objections. My questions to those individuals are:

1. How soon after a property is listed are you calling? If you are calling only 1-2 weeks after a house is listed, sellers are not as interested. They still believe they will sell their home.
2. Are you following up on those sellers who say they are not interested now? While right now they may not be interested in lease purchasing their home, they might be six months down the road. Remember you are not in this business for the short term, but the long term. So be sure to follow up with every call you make. Your follow up can take the form of a call or correspondence. Personally, I like to send a letter. It allows me to send a business card and tell that person again how I can help them with my program.
3. Are you building a rapport with the seller? If you are just calling and asking if a seller wants to do a lease purchase or not, you are NOT building rapport. You are also not getting any information on that home at all. You also can't do any follow up even if you wanted to. This is why you need a telephone script. A good telephone script allows you to build a rapport with the seller. It also gets all the information I need to decide if I even want to do a lease purchase on this property. I do not waste my time going to look at property, or setting up a meeting without having all the information about a property (physical, pricing and financial).
4. Are you telling the seller the advantages of lease purchasing their property? That they will get their asking price or even higher. That you have a large pool of tenant buyers that you can have drive by immediately. That these tenant buyers want to purchase their own home, not just rent. That you can get them a higher monthly payment. That you can get them get positive cash flow each month. That they will also receive non-refundable option consideration. That the tenant buyer will do all minor maintenance. That it is still their property until the tenant buyer exercises the option. That there are no Realtor commissions, closing costs, etc.
5. Are they objecting to lease purchasing because they think they are getting a renter? It is YOUR job to explain the difference to them between a renter and a tenant buyer. Renters give a security deposit that owners must pay back, put in a separate account (in most states). Renters don't care about the property; it is just another house, townhouse, condo to them. If something breaks or goes wrong, it's the owners problem not theirs, and they won't pay their rent until the owner fixes it.

Tenant buyers are giving them non-refundable option money (a down payment). Tenant buyers are receiving a rent credit each month based on their payment record. Tenant buyers are responsible for minor maintenance. Tenant buyers want to be able to have their rent credit and option money applied to the purchase price of this home. They don't want to lose out. They want this home to become theirs. They are going to take care of this property like it was their own. You can tell a seller that many tenant buyers make improvements ( with their permission, of course).

So be sure you explain to the seller the difference between a renter and a tenant buyer.

And remember, there are going to be some sellers who just want to sell their home. Tell them you wish them the best, that you are here for them if it doesn't work out, and go on to the next seller you can help. There are a ton of them out there, you just have to make the calls ( and I don't mean only 10 to 20 calls)!