OfflineHi all,
I hit my first roadblock today. Spoke with 2 attorneys, 1 said it would cost thousands to draw a contract up with what I said I wanted to do, and the other said it was illegal where I live to wholesale. I figured this would happen where roadblocks happen in any endeavor, it's not going to stop me. Any ideas on what to do?
__________________
Each attorney is different and each charge their own set fees. Wholesaling is not illegal; people wholesale all day everyday, he is obviously is inform.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Don't give up, look for a better attorney. Check Dean's student resources, he has some good contracts that you can print out for free. Good luck and don't stop.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
I'd try birddogging if I were you, I think that's the easiest way to get involved in real estate, only thing though is that you gotta have a buyers list ready so you'll know who to refer your deals to. Anyways here's the paperwork needed for a birddog deal, good luck!
Finder’s Fee Agreement
Date:_____________________ at__________________________, (Enter State)
In consideration of services to be rendered by ____________________ (Finder), and _______________________________________________(Client) hereby employs Finder to refer to Client a prospective:
[]Single Family Home, [] Rental Units, []Land , []Commercial,
[]buyer owner,[] borrower tenant Other___________
1. Finder agrees not to participate in or conduct any negotiations with propects, or solicit loans on behalf of prospects. Finder is/is not licensed by the (Enter State) Department of Real Estate.
2. Finder hereby delivers to Client the name and identity of the following prospect:
Name_________________________________________________________
Address_______________________________________________________
Telephone_____________________________________________________
Client is:
Single Family Home ,[]Rental Units, []Land , Commercial
, []buyer owner , []borrower tenant , Other___________
3. Finder hereby delivers to Client particulars concerning a real estate parcel that Client might want:
Address: ________________________________________________________
________________________________________________________________
Legal Description: _________________________________________________
________________________________________________________________
Other: ___________________________________________________________
Compensation:
1. As compensation for Finder’s referral, Client agrees to pay Finder as follows:
[][ $ ___________
[] _____________% of the net profit upon sale.
[] _____________% of the net equity upon purchase.
[] Other:___________________________________ ___________________
1. Finder’s compensation is payable as follows:
[] Upon the closing and sale of the transaction involving the above-cited real property (#3), or upon the closing of the first transaction involving the above-cited prospect (#2).
[] Other: ________________________________________________________
_______________________________________________________________
2. Should the prospect or the property not result in a transaction involving Client within ______months of the date of this agreement, Client shall owe Finder no compensation.
3. Additional terms and conditions: __________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
Understood and Agreed:
Finder:____________________________________ Date ________________
Client:_____________________________________ Date ________________
"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"
- wrecklessKane
Hi Buffs28,
Attorney's are no different than agents that say it can't be done! They create fear in you because they might not be familiar with the process. Assigments are done daily by banks all over the world! Check with an agent that is familiar with the process. They will be able to refer you to an attorney or brokers, etc. in multiple nmbers. Keep the faith! Many roadblocks thrown at you on this journey, so you take a different direction or blaze right thru it! Don't allow 2 No's to determine your future! Continued succcess to you always...........Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
I agree with Lubertha on that one... Find the right attorney, or, even better, find out a little bit about the real estate laws in your area yourself just to get a feel of what you can or can't do.
Thousands for a contract?!?! lol Next.... Especially since its something you can do for free or for a minimum amount if you wanted to get software to do so.
Never let anyone tell you it can't be done, when it can, and has been done before!!!
Your even ONE MORE STEP CLOSER TO YOUR GOAL NOW!!!! Do you realize that?? How exciting!!!!
Knowledge is Power
- Pimpedoutgeese
Allow your fear to gently pass. Then genuinely ask yourself,
“What needs to be done?”
I won't let 2 attorneys bring me down. I ran across a local attorney last night after I posted this. He is a real estate investor and he said it's all perfectly legal and ethical. I know that there will be lots of obstacles, and that's the reality of life in any business pursuit. Can't wait to get my first deal. thanks everyone for your encouragement
Many, Many roadblocks. Pick it up and throw it right back at them! So happy for you! Persistency Breeds Success! Just One Step Away! Always the best for you...........Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"