175 Doing Lease Purchasing as a Realtor R.P. Murphy of Murphy Home Solutions
A fellow Cardinals fan is my special guest in this episode. That\u2019s because R.P. Murphy (who goes by Murphy), is from right here in the St. Louis area. For years, I\u2019ve seen his ads all over CraigsList and around this community; now I finally get to meet him.
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Murphy\u2019s been doing lease purchasing for almost as long and I\u2019ve been in the investing business. He started out as a mortgage broker, then became a licensed real estate agent. He was doing okay as an agent, but once the 2008 bust hit, he realized he had to change strategies to survive the crash.
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After the crash, all of a sudden thousands of people were unable to qualify for conventional mortgage loans. That\u2019s when he came up with the idea of building a business around lease purchases. (I call them lease options, but Murphy calls them lease purchases. But all the same thing \u2013 just semantics.)
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Murphy has refined his business to a well-oiled, smooth-running machine that is highly successful. You\u2019ll hear how he learned \u2014 by trial and error \u2014 what to do, and what not to do to benefit his bottom line.
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This guy answers his own calls\u2014 something that is extremely rare in this age of technology. And he doesn\u2019t work with a large staff. He has one other agent that he teams up with and that\u2019s about it. No matter how you look at his business model, you can\u2019t argue with his success.
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