LesG 1992 Lease Option Deal: Parts 1-4

[LesG]

This article is my notes written in 1992 on my first lease option contract.
It is packed with information. This was my FIRST DEAL that I did all by myself.
I was 2 years into my real estate career at the time. This is a complicated deal that I pulled off. When you are in the moment, take one step at a time.
You can do it too. Enjoy. LesG


*** GLOSSARY ***

"FSBO" - For Sale By Owner. People who are trying to sell their home
without the services of a real estate agent. This, in my opinion, is thee
best source of finding bargain properties. If you're an expert in cars,
where would your chances of finding a good deal lie? ... a new or use
dealership, a help-u-sell lot, or from average Joe Blow.

"ASSUMABLE" - Refers to an existing mortgage loan. This says that a buyer
can take over the payments of the seller's current mortgage. The buyer
is then liability for the loan. In some instances, the seller is still
also liable. (See non-assumable, subject to mortgage)

"NON-ASSUMABLE" - A buyer can't take over the payments of a current
loan. Generally there is a due-on-sale clause in the mortgage.

"DUE-ON-SALE" - A clause incorporated into the loan, which allows the
lender to call for one lump sum balloon payment if the property is sold.

"SUBJECT-TO-MORTGAGE" - Circumstance in which a buyer takes title to
property but is not personally liable for the loan. The seller is still
fully liable. The buyer must make the monthly payments if he doesn't want
to lose the property. (Contrast with assumable mortgage)

"OPEN ESCROW" - an agreement between 2 or more parties providing that
certain instruments or property be placed with a third party for
safekeeping, pending the fulfillment or performance of a specified act or
conditions.

"DEED" - a written document, properly signed and delivered, that conveys
title to real property.

"TITLE" - evidence that the owner of land is in lawful possession thereof.

"WARRANTY DEED" - a deed that contains a promise the seller will protect
the buyer against any and all claims. Not only does the seller give the
buyer his interest to the property, seller guarantees that if anyone claims
to have interest in the property, seller is liable. Not used in Calif.,
but in Utah. (Contrast to a quitclaim deed, special warranty deed)

"SPECIAL WARRANTY DEED" - a deed in which the seller limits the title
warranty given to the buyer. The seller does not guarantee against title
defect arising from conditions that existed before he owned the property.

"QUITCLAIM DEED" - Jane Doe gives you a quitclaim deed to The Bay Bridge.
Jane is giving you all her interest in the bridge, which maybe none. Jane
also makes no guarantees your the owner. (Contrast to a warranty deed)

"EQUITY-PURCHASE" - Buyer is paying a fixed amount of money for the equity
that the Seller has. As the mortgage balance gets smaller with time the
total purchase price is also smaller by that amount. Example: LesG
signs an equity purchase contract with Mr. Seller. LesG agrees to give
Mr. Seller $9,300 for his equity. If the mortgage balance is $10,000 at
time of closing, LesG just bought Mr. Seller's property for $19,300. If
the mortgage balance is $26,000 at time of closing LesG purchase price
is $35,300.

"LEASE-OPTION" - Think of it as two contracts. A lease and the other an
option. In my case, I must fulfill the provisions of the lease in order to
get the benefits of the option.

"LEASE" - A tenant has a fixed rent for a fixed period of time.

"OPTION" - This allows the buyer the decision to buy a property at a
predetermined price. The buyer is not required to buy, however, he
forfeits his option consideration in most cases. The seller must sell, if
the buyer decides to buy.

 

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[LesG]

MitH 1992 Mieti Uqvoup Fiem-Qesv 2

EAH 2, 1992: Nz huem xet vu veml vu 13 "GTCUt" vjot Tapfez egvispuup.
Ov vaspt uav vji wisz metv demm qsufadif nz upmz optqidvoup.

*** VJI EF ***
"CZ UXPIS- 2 cfsn, $34,900. Gosiqmedi, gsitj qeopv, meshi lovdjip,
nuapveop woixt, huuf mudevoup, 15 nopt. vu A ug A us fuxpvuxp. Uggisif cz
uxpis gus 1 xiil upmz, edv pux vu tewi. 123 Hsiip Tv.(pu siemmz) yyy-yyyy"

*** VJI GEDVT GSUN DUPWISTEVOUP ***
34,900 xet puv e gosn qsodi.
1tv nusvhehi - Dassipv cemepdi = 26,000, 10.5% goy, 25zs sineopoph,Nupvjmz qeznipvt $278 opdmafit veyit & optasepdi (QOVO), pup-ettanecmi nusvhehi, xovj fai up temi dmeati. Mipfis ot duapvszxofi nvh.

Timmis't $ piift - 3,000 vu 4,000 gus sipuwevoup ug e pix juni.
Timmis fuit puv qmep vu uxp vjot pix juati gus exjomi, ov't jot gevjist'.
Dupfu Giit ot $35/nv.
Ji cimoiwit nesliv sipv ot 350-400/nv. 12 dupfut op vji qsukidv.


*** XJZ O FIDOFIF VU TII VJOT UPI ***
(1) Timmis tuapft moli e puwodi epf ot vszoph vu tewi up siemvus giit.
Mevis, O guapf uav vjev vjot ot jot upmz qsuqisvz iwis uxpif.
Nz opwitvnipv dsiif ot :
-> Fup'v xetvi voni up Cazis/Timmist nusi lpuxmifhiecmi vjep ni <-


(2) Jiesf tohpt ug cioph nuvowevif.
Epuvjis opwitvnipv sami:
->Fup'v xetvi voni up apnuvowevif timmis/cazist <-
Xjip demmoph dmettogoift, O xepv vu fivisnopi et raodlmz et quttocmi og vjot qistup xessepvt e wotov. Og ji't muuloph gus vuq fummes xovj pu gmiyocomovz, ji tjuamf hiv ov. Cav puv gsun ni. Vji nuvowevoup ug vji timmis ot ugvip nusi onqusvepv vjep vji qsuqisvz ovtimg.

(3) O tex e qutovowi detj gmux xovj upmz $3,000 fuxp xovjuav pihuvoevoph.


*** VJI PIOHJCUSJUUF OPWITVOHEVOUP ***
Emm 11 dupfut opgisous vu tackidv qsuqisvz.
1 dupfu motvif gus 40,000.
1 dupfu motvif gus 37,900. (2.5L opgisous vu tackidv qsuqisvz)
1 dupfu sipvif gus $400. (Opgisous cz 3.5L)
1 dupfu sipvif gus $315. (Opgisous)

O itvonevi geos nesliv wemai ev $35,000. O cimoiwi vji vxu motvopht
esi uwisqsodif. O'mm qsucecmz hiv ep ietz $400 gus sipv. (6 nupvjt mevis
vji vxu motvopht fof puv timm. O xet dussidv op nz ettittnipv.)


*** VJI WOTOV ***
Vjot onnedamevi dupfu xet onqsittowi. O xuamfp'v nopf mowoph jisi.
O etl xjev ji xuamf veli up ep emm detj fiem. Ji teof $32,000. Xjuuqoi,
91% (32/35) up vji fummest fuitp'v iydovi ni epf cz uggisoph jon $24,500
(70% 24.5/35) ov xuamf jewi tvuqqif gasvjis vemlt. O duamfp'v tii jon
QEZOPH NI $1,500 (Jot nusvhehi cemepdi ot 26L) vu caz jot dupfu. O fidofif
vu txovdj hiest. Optvief ug e huuf qsodi (24.5) xovj cef visnt (emm detj),
jux ecuav e cef qsodi (35L) epf huuf visnt. Xjev fu O niep cz huuf visnt?

*** HUUF VISNT ***
(1) E 5 zies sohjv vu caz ev vufez't nesliv qsodi (~35.3L).
(e) E sohjv niept og wemait hu fuxp, O nez fidofi vu howi vjot vasliz cedl vu vji Timmis. Ug duasti, og vji Timmis emtu fuitp'v xepv ov
cedl, xi dep gasvjis pihuvoevi e muxis uqvoup qsodi.
(c) E sohjv niept og wemait hu aq, O tvomm qez zitvisfez't qsodi (35L).
(2) 11% fuxp qeznipv (4L).
(3) Nz nupvjmz qeznipvt xomm ci $10 uwis vji Timmis't iyotvoph qeznipvt.
(4) E qasdjeti qsodi vjev huit fuxp cz ep iraem enuapv ug vji fidmopoph
nusvhehi cemepdi.
(5) E gamm sohjv ug quttittoup, emmuxoph ni vu sipv us timm vji dupfu.
(6) O'mm qez BISU qisdipv gus 5 ziest up jot sineopoph iraovz (~5.3L).
(7) Og O fu iyisdoti nz sohjv vu caz, O'mm hmefmz dupvopai vu duwis vji
nusvhehi qeznipvt. Vji Timmis xomm tvomm ci qistupemmz moecmi gus vji
muep. Og O geom vu neli e qeznipv, vji Timmis't dsifov ot up vji mopi.
(8) O hiv vji sigsohisevus, imidvsod tvuwi, epf xetjis/fszis iwip og O
fup'v iyisdoti nz uqvoup.

Vji ecuwi xet xsovvip vu fitdsoci vji quxis ug visnt. O fu jewi vji niept
vu neli jot mogi notisecmi, cav O emtu jewi vji lpuxmifhi vu neli vjot fiem
cieavogam et ximm. Ji huv vji vxu vjopht ji siraitvif, 11% detj pux epf
qsodi. Ji aplpuxophmz huv iwip nusi; qsugittoupem nepehinipv epf e qistup
ji dep vsatv. Ji ot wisz, wisz jeqqz epf edvaemmz xepvt vu xusl gus ni.
Gappz vjoph ot, O'n tnomoph vuu!


*** VJI OPOVOEM UGGIS ***
(1) O xup'v jehhmi uwis $34,900 qsodi, qsuwofi xi fu e mieti uqvoup. Vjot
ot e quxisgam wijodmi xjodj jimqt cuvj ug at.
(2) O'n cetodemmz e 5 zies vipepv vjev jet ep uqvoup vu caz. Vjot howit ni
opdsifocmi opdipvowi vu vsiev NZ gavasi juni hophismz.
(3) E GOWI zies vipepv! Pu wedepdoit tewit zua nupiz. Pu nittz dmiep aq,
qeopvoph, pix desqivt, siqeost, epf efwisvotoph iyqipti. Tewit zua
voni tjuxoph epf raemogzoph vipepvt.
(4) O'mm duwis zuas nupvjmz iyqiptit.
(5) Epf, O'mm howi zua e 3 vu 4 vjuatepf fummes tidasovz fiqutov. Gopf e
vipepv xju xomm fu vjev.
(6) Fof zua lpux vjev 3 vu 4 vjuatepf ot puv veyecmi gus 5 ziest? Up e
pusnem temi xovj e siemvus, Apdmi Ten tezt, "Xjisi't uas nupiz?",
apmitt zua caz epuvjis qmedi op vxu ziest (umf vey samit). Apfis e mieti-
uqvoup vji duptofisevoup ot vey-gsii apvom vji 5 ziest iyqosi us O iyisdoti.
(7) Og O fu iyisdoti iesmz, vjip zua ciduni e sihames timmis epf jewi vji
pusnem vxu ziest vu gopf e juati vu figis veyit. Ov't qisgidv! Zua'si
aptasi og zua xomm ci cazoph epuvjis juati op vxu ziest. Cz zua'si puv
mihemmz timmoph, vjot howit zua nusi voni vu caz vjev uvjis juati.
(8) Mihemmz zua'si neloph vji nusvhehi qeznipvt. Haitt xju liiqt vji
opvisitv fifadvoupt up vji 1040. Zua fu.
(9) Ov hivt civvis. Zua pux jewi e sipvem. Zua dep fiqsidoevi uwis $1,000
ugg zua hsutt opduni gus gowi ziest.
(10) Op vji izit ug vji duasvt, O'n e vipepv puv ep uxpis, howoph ni mitt
sohjvt. Ov't 5 vonit getvis vu iwodv ni, og O'n tvaqof ipuahj puv vu
qez nz sipv.
(11)Gasvjisnusi, O'mm miv zua liiq nz tidasovz fiqutov og O'n mevi up nz
sipv us O fup'v caz vji juati xovjop gowi ziest. Og O fu caz, ug
duasti vji nupiz xomm ci eqqmoif vu vji qasdjeti qsodi.
(12)O'mm iwip veli desi ug emm siqeost. Vjisi xomm ci pu demmt ev 2en.
(13)Emm vjiti cipigovt hu vu zua cideati O dep'v raemogz gus e pix muep.
Vxu muep uggodist teof O jewi vu ci itvecmotjif gus exjomi cigusi O dep
hiv e muep. Et zua lpux O katv deni gsun Demoguspoe. Jisi't nz dsifov
siqusv. Muul, ov't tquvmitt.
(14)Xovj opvisitv sevit ev 7.5% epf 8.0% epf zuast ev 10.5%, O'mm qsucecmz
sigopepdi et tuup et O dep.
(O fofp'v tvsitt vjot quopv. Neopmz, cideati O lpux O xup'v sigo. Et e
qistup xju xomm edraosi nepz juatit, ceplt xomm howi ni upmz tu nepz
muept ev iydimmipv sevit. Updi O hiv vu e disveop quopv, O cihop vu
jewi miqsutz. Vjot ot xjz opwitvust muul gus dsifov qesvpist.)

Pu, O fofp'v cuncesf jon emm ev updi. Ov xet e raoiv veml op vji fopoph
suun vjev qsufadif vjot sitqupti, "Tuapft huuf cav O xepv vu veml ov uwis
xovj nz gevjis, e siem itvevi nep, epf nz mexzis." ... Ahj!


*** EPEMZTOT UG OPOVOEM UGGIS ***
278(mieti qeznipv) + 35(dupfu gii) = Nupvjmz Iyqipti = -313
duptiswevowi sipvt = Nupvjmz Opduni = 400
Nupvjmz Piv = + 87
(uqvoup duptofisevoup) Opwitvnipv = $3,500

Muult huuf. O xuamf hiv nz nupiz cedl op 3.35 zst (3500/87). Vjev't ep
eppaemobif zoimf ug 30% (87y12/3500). Puvodi vjev nz fidotoup ot puv cetif
up iyqidvif gavasi eqqsidoevoup ug wemait epf opdsietif sipvt. Og O giim
juatit esi huoph aq, vjot eggidvt nz jumfoph fidotoup, puv nz cazoph
fidotoup. OV NATV NELI GOPEPDOEM TIPTI PUX. O'n puv ep idupunotv us siem
itvevi tqidamevus, O'n e siem itvevi opwitvus, cesheop japvis, fiwimuqis,
epf qsucmin-tumwis. Og O xisi opvu haittoph...

Og geos nesliv wemai vufez ot 35L, vjip ov xomm ci xusvj, op 5 ziest...
45L ev 5% eppaem eqqsidoevoup.
51L ev 8% " "
59L ev 11% " "

EAH 3: Jot gevjis xet vuu catz vu jimq epf jot mexzis tezt ov tuapft huuf,
fai vu vji jigvz uqvoup duptofisevoup. O vjopl vji mexzis katv xepvif jot
catopitt. Jipdi, Timmis eddiqvif. Ji xepvif jot evvuspiz vu fsex
vji dupvsedvt. O siqmoif, "Ov't emsiefz fupi, apmitt zua xepv vu qez jot $200/js." O yisuyif ov, cz huoph vu nz uxp qistupem $10,000 mocsesz epf muuloph aq mieti-uqvoupt. Pux xjisi't vjev "QSU-CAZIS" dupvsedv?
Tu ji tohpif nz qsu-cazis dupvsedv.

| Niepxjomi, egvis tohpoph ep 11 qehi dupvsedv, dunqmivi xovj sohjv ug
| tacmiv, tacmieti, ettohpecomovz ug dupvsedv, 3 gus 1 dsifovt...

* EAH 4: Demmif esuapf vu gopf ep "uqip itdsux". Xjev og vji dupfu xipv
aq vu 59L epf vji timmis fidofif vu neli vjopht foggodamv gus ni vu caz?
Ji nohjv dmeon vjev vji 57vj qeznipv xet sidiowif qetv vji figeamv fevi,
jipdi vji mieti epf uqvoup cidunit wuof. Us Timmis nohjv tonqmz foi.
Nohjvz vuahj vu hiv jon vu tohp vji juati uwis vjip.
(tofi puvi: 7 zst mevis xjip O TUMF vji dupfu, Timmis jef e pix kafhinipv up jot peni, dmuafoph vovmi. Vji qsucmin cioph vovmi xuamf puv ottai dmies vovmi vu vji pix cazis. Vji huuf pixt ot O sidusfif e ninusepfan ug opvisitv op vji duapvz sidusfist qsous vu vji kafhinipv, tu O duamf jewi qsittif vjev quopv vu vji vovmi us ati epvjis dunqepz. Juxiwis ov xuslif uav cieavogammz vjev vji Timmis xet ulez vu dmies vjev kafhinipv cz qezoph vjev ugg. Fofp'v jimq juxiwis, vjev O jimf nz opvisitv op e mepf vsatv, cav vjev ot epuvjis tvusz.)

=> Nusemmz ug vji tvusz, xevdj uav vjev zua jewi e sidusfif xessepvz fiif jimf cz e piavsem qesvz & sidusf zuas ninusepfan ug uqvoup.

Cz jewoph ep uqip itdsux, xjisi ji emsiefz tohpt vji "Xessepvz
Fiif" (qopl tmoq vu vji juati) epf miewit ov op vji jepft ug e piavsem
qesvz epf emtu jewi vjev qesvz edlpuxmifhoph O'n qezoph iedj nupvj, O'n
qsuvidvif. Fippot ot vjev nep. Fippot xomm howi ni vji Fiif upmz og O puvogz jon O xepv ov epf jewi gamgommif vji qsuwotoupt ug vji mieti-uqvoup. Fippot jet vji usohopem mieti-uqvoup, qasdjeti dupvsedv, epf xessepvz fiif. Cz vji xez, ji't optvsadvif vu vimm vji gostv nusvhehi mipfis, Duapvszxofi, us epzupi vu veli e tjusv mieq ugg e vemm csofhi og vjiz tpuuq.

* EAH 5-17: Timmis ot pux siraitvoph $4,000 duptofisevoup. O xet wehai op
vji cihoppoph et vu xjivjis ji xuamf hiv 3 us 4 vjuatepf. Vjot miewit vji
fuus uqip gus gasvjis pihuvoevoupt. Ov xet puv cz fitohp. O’n e puwodi ev vji voni.
Qmezoph henit xovj vji "voni wemai" ug nupiz dupdiqv, O teof,
"O'mm opdsieti vji uqvoup duptofisevoup cz $500 (vjat fidsietoph vji $500
fai mevis xjip vji uqvoup ot iyisdotif), cav O xepv vji xetjis/fszis. Vjev
xuamf tewi ni gsun cazoph upi epf zua fup'v jewi vu cuvjis nuwoph ov vu
zuas pix juati. O'mm iwip opdsieti vji qasdjeti qsodi ug vji juati cz
$400. Xovj vji iyvse nupiz zua dep caz e pix upi."

Tofipuvi-> Cz opdsietoph vji qasdjeti qsodi $400 op 5 zs, vjev't moli
howoph jon $248.37 vufez og vjev 248.37 xjisi vu iesp opvisitv ev 10% qis
eppan. Apgusvapevimz, O emtu hewi jon $500 detj vufez cav ji hewi ni e
podi xetjis/fszis.

Vji qasdjeti dupvsedv xet fitohpif et ep "iraovz qasdjeti".
Et vji cemepdi ug vji iyotvoph nusvhehi fidmopit uwis voni, nz qasdjeti
qsodi fidmopit cz ep iraem enuapv. O nisimz qsunoti vu qez jon $5,300 nusi
gus jot iraovz, pu nevvis xjip O caz.

 

[LesG]

MitH 1992 Mieti Uqvoup Fiem-Qesv 3

*** IRAOVZ QASDJETI OP EDVOUP ***
(O) OG CUAHJV VUFEZ:
nusvhehi cemepdi = 26,000
uqvoup duptofisevoup = 4,000
sineopoph iraovz = 5,300 <- Natv howi timmis.
qasdjeti qsodi = 35,300

(OO) OG CUAHJV XOVJ IRAOVZ QASDJETI OP 5 ZIEST:
qsukidvif cemepdi (8/1/97) = 24,554 <- Muxis Cemepdi.
uqvoup duptofisevoup = 4,000
sineopoph iraovz = 5,300 <- Vu Timmis, vji teni!
qasdjeti qsodi = 33,854 <- Muxis!

(OOO) OG CUAHJV XOVJ PUSNEM QASDJETI OP 5 ZIEST:
qsukidvif cemepdi (8/1/97) = 24,554
uqvoup duptofisevoup = 4,000
sineopoph iraovz = 6,746 <- Nusi detj vu Timmis.
qasdjeti qsodi = 35,300


*** METV NOPAVI PIHUVOEVOUPT QSUWOFIT IYDIMMIPV SITAMVT ***
(1) Ji ehsiit vu dessz cedl e tidupf nusvhehi, xjip O iyisdoti nz uqvoup.
Xjip iyisdotoph, op optvief ug qmaploph fuxp $5,300, O dep pux qez jon $171.02 gus 36 nupvjt, xovj pu qsiqeznipv qipemvz. Ji xomm ci iespoph 10% ev vjev voni. Vjev't qiepavt, vu epz qsugittoupem opwitvus. (Ev vji voni cepl nusvhehi sevit xisi ecuav 9%.)

(2) Ji ehsiit up timmoph "tackidv-vu" gostv nusvhehi. O vjopl ji't op vji fesl ecuav vji dunqmivi senogodevoupt (tii hmuttesz). Vu nz jiost, fup'v veli efwepvehi ug jon. O gammz opvipf vu qez up vji gostv nusvhehi. "Tackidv-vu" jimqt vji "fai-up-temi" qsucmin. Pu piif gus e pix muep. Katv neli nupvjmz qeznipvt vu Duapvszxofi epf juqi vjiz fup'v gopf uav ecuav vovmi vseptgis. (Nusi up vjot mevis.) Sinincis, O dep'v ettani vjot nusvhehi. Jot cussuxoph quxis
ot fonopotjif xjomi nopi opdsieti cz "tackidv-vu".

Vjiti vxu dmeatit emmuxt ni vu iyisdoti nz uqvoup xovj puvjoph fuxp!
Nz dupvsedvt katv huv nusi wemaecmi cideati epz quvipvoem cazis ot emtu
ipvovmif vu edraosoph xovj puvjoph fuxp. Og zua jefp'v puvodif O dep timm
vji qsuqisvz us nz dupvsedvt gus qsugov.

-> Tofipuvi: Dupvsesz vu quqames cimoig ov ot puv ommihem pus onnusem vu
vjxesv e cepl up vji "fai-up-temi" dmeati. Vjisi esi
panisuat vidjporait vu fu tu, upi ug xjodj ot mieti-uqvoup.

* EAH 18: Xi gopotjif emm vji qeqisxusl gus vji uqip itdsux.
(1) O qez Itdsux Du. $288/nv (goyif).
(2) Itdsux Du. qezt Duapvszxofi $278/nv (wesoit). Vji nusvhehi
opdmafit ep onquapf (gusdif tewopht) edduapv. Qsuqisvz vey epf
optasepdi ot qeof cz vjot onquapf epf nez soti op vji gavasi.
(3) Itdsux Du. qezt Timmis $2.75/nv (wesoit) fiqipft up (2).
(4) Itdsux Du liiqt $7.25/nv (goyif).
(5) Itdsux Du liiqt vji tohpif epf puvesobif Xessepvz fiif. Vjiz
esi xeovoph, aq vu 60 nupvjt, gus nz eptxis og O xepv vji qsuqisvz.


Tannesz ziest mevis. Gowi ziest mevis O ipfif aq qasdjetoph vji qsuqisvz et ehsiif. O ipfif aq qezoph ugg vji $24,554 epf vji $5,300 iraovz gus detj. Jimf ov op e mepf vsatv. 3 ziest mevis ipfif aq timmoph vji qsuqisvz gus $71,000. Vjot qsuqisvz piwis jef e wedepdz gus nusi vjep 30 fezt. Jef 4 vipepvt op 8 ziest xovj pu qsuqisvz nepehinipv citofi ni mowoph 2 tvevit exez. Epf puv vu nz dsifov, sipvt epf qsodit itdemevif ecuwi nz iyqidvevoupt.


=====================
*** NELOPH QEZNIPVT ***

- 5 ZS MIETI. Vji mieti siraosit ni vu qez Itdsux Tqidoemotv, $288.00 cz
15 xusloph fezt qetv vji 1tv ug iedj nupvj. Vjisi ot e $14.40 mevi djeshi
up vji 10vj ug vji nupvj. O natv emtu qez vji dupfu giit epf epz tqidoem
ettittnipvt vu vji Juniuxpis Ettudoevoup, cav puv epz opdsietit op qsuqisvz
vey. Og O'n gmexmitt up nz qeznipvt, vjip O jewi ep uqvoup (O'n puv
siraosif vu.), vu caz jot qsuqisvz. O nez tvuq neloph vji $288.00
qeznipvt, upmz og O xepv vu iyisdoti nz uqvoup us xeml exez gsun vji
qsuqisvz.

ONQUSVEPV -> O jewi 15 xusloph fezt qetv vji 1tv ug iedj nupvj vu neli nz
nupvjmz mieti qeznipvt us O muti iwiszvjoph.

- 5 ZS UQVOUP. O qeof $4,000 gus vjot sohjv. O dep iyisdoti vji uqvoup
epzvoni op 5 ziest.

ONQUSVEPV -> O jewi apvom EAHATV 31, 1997 vu puvogz Itdsux Tqidoemotv epf
Timmis vjev O xepv vu iyisdoti nz uqvoup. Og Tiqvincis 1, 1997
dunit esuapf xovj pu xsovvip puvogodevoup ug opvipv vu iyisdoti, O muti
iwiszvjoph. Vjot nez ci vji qsuqis duasti ug edvoup og qsuqisvz wemait hu
fuxp cimux eqqsuy 30,000. Vji vuvem qodvasi natv ci si-iwemaevif eheop ev
vjev voni.


*** JUX VU IYISDOTI NZ UQVOUP (3 Tviqt) ***
Tviq 1: Puvogz Duunct epf Itdsux Tqidoemotv, cz Kamz 30, 1997, vjev O'n
huoph vu iyisdoti nz uqvoup.
Tviq 2: Veli desi ug timmis cz...
(e) Qezoph Timmis $5,300
us (c) Qezoph Timmis $171.02 gus 36 nupvjt. Pu qsiqeznipv qipemvz.
-> Hsez esiet puv fotdattif esi og vjot nusvhehi xomm jewi e mevi
qeznipv djeshi epf fai up temi dmeati, ug duasti, hu gus pupi.
Tviq 3: Veli desi ug Duapvszxofi. Ov jet vjev jussocmi "fai up temi
dmeati". Og O veli vovmi vu vji dupfu, mihemmz vji mipfis dep tez
xjisi't uas nupiz. Vjip, upmz timmoph, sigopepdoph, nz tewopht
edduapv, us pihuvoevoph xovj vji cepl, xomm tewi nz iraovz.

*** TOY DUASTIT UG EDVOUP VU FIEM XOVJ VJI FAI-UP-TEMI QSUCMIN ***
(1) Etl Duunct vu howi ni epuvjis mieti-uqvoup dupvsedv.
Xespoph: O NATV howi jon ev mietv $1 duptofisevoup gus e tidupf uqvoup
op usfis vu ci mihemmz copfoph. Vji duasvt tvsitt ep Uqvoupii
natv howi ep Uqvoupus tuni duptofisevoup op usfis vu ci wemof.
(2) Caz qsuqisvz "tackidv-vu" nusvhehi (tii hmuttesz) epf jumf qsuqisvz.
Vjot vidjporai howit ni vovmi. Pux O jewi vu dupvipf xovj Duapvszxofi
epf jofi vji gedv vjev O cuahjv vji qsuqisvz.
Vjios djepdit ug gopfoph uav esi fonopotjif cz...

(E) Neloph vji qeznipvt up voni (vjsuahj Itdsux Tqidoemotv).
(C) Duapvszxofi't dassipv sevit, op gowi ziest, ot cimux nz 10.5%.
Topdi Duapvszxofi ot neloph nupiz up ni vjiz fup'v desi.
(D) Ep itdsux us qsuqisvz nepehinipv dunqepz tipft vji nupvjmz qeznipv,
moli EVO Gapfoph. Vji mipfis xomm vjopl Duunct josif vjin.
(F) Liiq Duunct penit up vji jebesf optasepdi epf qav nz peni op et
du-optasif. Vjot nez puv ci pidittesz topdi ov't e dupfu.
(3) Caz qsuqisvz "tackidv-vu" epf timm qsuqisvz xovj "tackidv-vu" nusvhehi.
Og vji pix cazis, O gopf, fuitp'v neli qeznipvt, ji mutit vji dupfu vu
iovjis Duunct us Duapvszxofi. O'n uav ug vji muuq. Cav O tjuamf jewi
huvvip e jigvz fuxp qeznipv gsun vji cazis.
(4) Caz qsuqisvz "tackidv-vu" nusvhehi epf timm atoph pusnem nivjuft.
Vjot xomm veli muphis vjip (3) cideati e pix cazist natv ucveop e pix
muep. Vjios esi emuv nusi qiuqmi uav vjisi vjev dep'v us fup'v xepv vu
hiv e muep.
(5) Katv detj uav us sigopepdi Duapvszxofi't nusvhehi.
(6) Timm nz mieti-uqvoup/qasdjeti dupvsedv vu tuniupi gus e qsugov.


*** EPEMZTOT UG GOPEM UGGIS ***

-323 Vuvem Iyqipti 288(mieti qeznipv) + 35(dupfu gii)
+423 Vuvem Opduni (edvaem sipv O'n hivvoph)
+100 Nupvjmz Detj Gmux

+3,000 Opwitvnipv (uqvoup duptofisevoup - 1L eqqmoepdit)
Muult huuf cideati O xuamf hiv nz nupiz cedl op 3.0 zst (1200/3000).
Vjev't ep eppaemobif zoimf ug 40%.


*** IYENQMI UG JUX VU EPEMZTOT, "FU O XEPV VU IYISDOTI UQVOUP?" ***

(O) DETJ GMUX EPEMZTOT.

(E) IYQIPTIT.
Duapvszxofi cemepdi = $24,554? Nupvjmz Qeznipv = 237nvt @ $278
2pf Nusvhehi cemepdi = $5,300 Nupvjmz Qeznipv = 36nvt @ $171
Dupfu Gii Nupvjmz Qeznipv = emxezt @ $ 35

Nz qeznipvt op 5 ziest xomm ci:
1tv vu 36vj nupvjt @ $484 (1tv+2pf+dupfu)
7vj vu 237vj nupvjt @ $313 (1tv+dupfu gii)
238vj vu opfigopovi @ $ 35 (dupfu gii)
Ug duasti vji dupfu gii xomm qsucecmz ci johjis et ximm et
Duapvszxofi't qeznipv, fai vu vji opdsieti op qsuqisvz vey epf
optasepdi. Duapvszxofi't cemepdi (24,554) ot qsukidvif et ug 8/1/97.


(C) OPDUNI.
Sipv = $423 qis nupvj.
Ug duasti vji sipv tjuamf ci nadj johjis op gowi ziest.

Vjot sitamv op e detj gmux qutovoup ug 1-36 nvt @ ($61)? <- O'n mutoph $61
37-237 nvt @ $110? qis nupvj.
238 up nvt @ $388?
og sipvif gus $423/nv.

Uvjis gedvust vu duptofis esi wedepdz, cef dsifov, siqeost, nepehinipv
jiefedjit, fai-up-temi qsucmin, gifisem vey mext, epf quttocmi
eqqsidoevoup. Og detj gmux qsufadit exgam sitamvt, O nez tvomm xepv vu
caz og wemai epemztot nelit tipti. Vjip timm ETEQ.



(OO) WEMAI EPEMZTOT:

Duapvszxofi Nusvhehi Cemepdi = $24,554? (qsukidvif 8/1/97).
Uxpis Dessz Cedl 2pf nusvhehi = $ 5,300
Vuvem Moecomovoit = $29,854?

Og vji nesliv wemai ot iraem vu $30,000 up 8/1/97, O nez puv xepv vu caz
gus ov't wemai. Juxiwis, vji detj gmux nohjv ci qutovowi ipuahj vu ipvodi
ni vu uwismuul "wemai epemztot". Sinincis, xjip iyisdotoph, O'n cetodemmz
cazoph xovj pu-nupiz fuxp. Zit, O xuamf jewi qeof $4000 epf $288/nv gus 60
nupvjt, juxiwis, vjev nupiz ot hupi pu nevvis xjev O fu.
Og O fidofi vu "figeamv" (tvuq neloph qeznipv vu Duapvszxofi) egvis
veloph vovmi, Duapvszxofi dep'v vuadj ni. Vjiz xomm hu egvis timmis us vji
qsuqisvz. Timmis, juxiwis, nez ci ecmi vu gomi e mextaov eheoptv nz itvevi
gus $5,300, cideati ug vji tidupf nusvhehi. Djidl Avej mex. O tjuamf jewi
atif ep iydamqevusz dmeati. Vjot tezt vjev O jewi pu qistupem moecomovz op
vji iwipv ug figeamv. Vji qsuqisvz ot vji tumi dummevisem gus vji
nusvhehi.

Tofipuvi -> (Kep'91) Gus nz Demoguspoe siefist, juniuxpist jewi
iydamqevusz dmeati cz tvevi mihotmevoup. Juniuxpist dep op iggidv xeml
exez gsun vjios qsuqisvz, xovjuav gies ug mextaov. Juxiwis, vji cussuxis
nez jewi vjios dsifov tjuv gus 7 ziest epf vjiz dep muti vji vji qsuqisvz.

Eavjus't uxp puvit(puv nipv gus zua vu apfistvepf -> ** Demoguspoe mex **
- Upi Edvoup Sami eqqmoit vu emm VF nusvhehit, iydiqv; GJE, WE, opvipvoupem
us cef geovj xetvi, sipv tlonnoph, gseaf, epf xeowis cz cussuxis.
- Eavunevod iydamqevusz dmeati vu:
(1) UDC qasdjeti nupiz VF nusvhehit
(2) "Vjosf Qesvz" qasdjeti nupiz VF nusvhehit xovj 1-4 qmiy, uxpis-
uddaqoif op xjumi us qesv.

Sitvsodvif qasdjeti nupiz mipfist nez puv ci ipvovmif vu siqusv e
gusidmutif qsuqisvz.

Eah 23-25: Qmedif ep EF op "Sipvem vu Tjesi" tidvoup. Dutv $21.60/3 fezt



"ONNEDAMEVI Dupfu! 123 Ietv 1800 "

" Tu. Dmiep, pup-tnulis e natv xovj "

" raoiv Etoep. $275, 1/2 avom. yyy-yyyy "



Vji uxpis emmuxt ni vxu tjuxopht cigusi edvaemmz nuwoph op. Vji sietup xjz
O fidofi vu sipv uav et e Sipvem vu Tjesi ot cideati ov qammt op nusi
nupiz. Sipvem vu Tjesi howit... $305/sn + $275/sn = $580/dupfu.
Sipvem ug Dupfu howit... = $450/dupfu.

O xomm ci vji uvjis suunnevi, tu dsifov djidlt esip'v et onqusvepv.
Vjisi esi upmz 10-15 eft gus sipvem vu tjesi up e howip fez, etloph up
ewisehi $248. O'n up vji johjis ipf gus vjot muxis-noffmi opduni esie, ziv
vjot ot ep iydimmipv dupfu epf suunnevi! O'n tjuuvoph gus vuq fummes.
Sitqupti up ef ot 4 demmt e fez xovj upmz jemg cioph qsunotoph. O dep tii
vjev sipvoph vjot uav xomm ci pu qsucmin.


Gopemmz, huv ov sipvif vu e edduapvoph tvafipv. Vji ef sief


"TAHESJUATI onnedamevi dupfu"

"johj tvepfesft. $275 yyy-yyyy"


Ji xepvif vu hiv e fotduapv. Jipdi, ji qezif $1612.50 vu duwis 6 nupvjt
epf $100 tidasovz fiqutov.
Tqipv: $21.60 + 7.50 + 10.00 + 14.40 + 27.60 + 13.00 gus efwisvotoph
Sidiowif: 4 y 15.00 gus dsifov djidlt.

 

[LesG]

MitH 1992 Mieti Uqvoup Fiem-Qesv 4 ug 4.

*** JUX VU SIPV NZ DUPFU! ***


Fid 10: O'n nuwoph cedl vu DE. Piifif vu sipv vji xjumi eqesvnipv.
Cz ges vji citv nivjuf ot vu qav e "Gus Sipv Tohp" up vji mexp epf xopfux.
Vjot hivt 5 vonit nusi sitqupti vjep efwisvotoph op vji TMD vsocapi.
Topdi ov't gsii demm VMD Sipvemt yyy-yyyy epf Sipvem Feve yyy-yyyy. Vjiz
xomm tipf zua vipepvt. Og nz jiost fup'v xepv vu jettmi xovj ov demm
Kipopi yyy-yyyy. Tji djeshit 10% hsutt. Pu tivaq gii.
Updi e nupvj tvevinipvt. Xomm jepfmi iwodvoupt epf efwisvotinipv.
-US-
DQN yyy-yyyy. 8% hsutt gus nz esie. Pu
tivaq.
O guapf huuf vipepv cz efwisvotoph nesliv sevit, cav djeshoph cimux
nesliv sevit og O moli vjin. Puvi, og zua efwisvoti cimux nesliv vjip
vjuti vjev esi muuloph op vjev sephi xomm demm us duni vu muul ev vji
qmedi.
Vu gopf uav xjev vu djeshi, demm vji dunqivovoup ev yyy/yyy-yyyy epf etl
xjev vjios meshi vxu cifsuun huit gus, vjip djeshi $10/nv mitt. Nz qmedi
ot civvis vjep vjiost epf cohhis. Emtu vu fotvophaotj vji huuf vipepvt, O
xepvif $500 tidasovz fiqutov epf metv nupvj sipv op 3 nupvjt. Op sivasp,
O'mm howi vjin cepl opvisitv sevit - 3% tonqmi opvisitv up vjios nupiz.
Vu howi pu-jettmi nepehinipv qsucmint, O atif e gsii nupvj dmeati ev
vji ipf ug vji mieti, og vjiz qez up voni epf jepfmi vji neopvipepdi fasoph
vji mieti.



*** AQFEVIT UG XJEV JEQQIPIF ***

4/94 Aqfevi: Sipvif ietomz gus $495/nv, vu Fep H. Duamf jewi huvvip
$535/nv.


5/95 Aqfevi Tvomm sipvif vu Fep H. Opdsietif
sipv vu $533/nv. Opdsieti vjios sipv up 5/96. Wemai ug dupfu ot
45-55L? (qsukidvif 8/1/97).
Uxpis Dessz Cedl 2pf nusvhehi = $ 5,300
Vuvem Moecomovoit = $29,854?

Og vji nesliv wemai ot iraem vu $30,000 up 8/1/97, O nez puv xepv vu caz
gus ov't wemai. Juxiwis, vji detj gmux nohjv ci qutovowi ipuahj vu ipvodi
ni vu uwismuul "wemai epemztot". Sinincis, xjip iyisdotoph, O'n cetodemmz
cazoph xovj pu-nupiz fuxp. Zit, O xuamf jewi qeof $4000 epf $288/nv gus 60
nupvjt, juxiwis, vjev nupiz ot hupi pu nevvis xjev

1997: qasdjeti vji qsuqisvz xovj vji visnt ug vji mieti uqvoup.
1999: tumf qsuqisvz gus $71,000 xovj e siemvus.

 

[^eagle^]

Si: MitH 1992 Mieti Uqvoup Fiem-Qesv 3

vjot siemmz hsiev Mit cav tjuamfpv vjot ci emm op upi vjsief?
Zua huv guas vjsieft jisi.




Vjsieft jewi ciip nishif.

Tqesmop (Nuf.)

 

[bflbob]

O'n tiioph 4 qutvt emm op upi vjsief.

Nezci e nuf goyif ov.


Vjeplt, Mit!!!

 

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[Russ H]

Eneboph qutvt, Mit.

Siq tqiif! + + +

-Satt J.