hit roadblocks, so whats next to keep moving forward***unofficial journal***

Where did you get your assignment contract? It should be a page or two at the most. Are you going to a real estate "transactional" attorney? Also, you don't need an expensive lawyer to form your llc. Try legalzoom.com They are the cheap. You can also try amerilawyer.com, but I don't know if they service your area. For a lawyer to look over your paperwork, it shouldn't be more than a couple of hundred bucks. $2500 is for a lawyer to create a contract from scratch. That's not what you're doing.

We got the assignment contract from the success academy software that they sent...We have been calling a bunch of attorneys that deal with real estate(as long as they say real estate in there advertisement we have called them) I figured it shouldn't be more than a couple hundred basically to go over the purchase and sales(to make sure we have the right excape clauses) and then the assignment contract to make sure it works with our state. That is all we need, but go figure, it is a lot of work finding someone to go over it...I am guessing mainly cause alot of lawyer aren't used to it, or don't wanna deal with anything out of the ordinary...As soon as we get the ok, we are goin to be golden I think as far as our agent puttin in offers...So that is our next biggest thing we have to deal with right now...We have been hitting roadblocks, but this one is the biggest pain right now...Of course, I am not goin to give up though...Gotta get it done

Try the LEGAL section under the SERVICES heading on Craig's List.
Maybe advertise for an attorney, letting them know what you need and maybe the right one will come to you.

I looked on my local CL site and I found a great ad by an attorney, I am sending you a link to it in a PM

Angela

Not all real estate attorneys are the same. When you call, you need to ask if they're a transactional attorney. Believe it or not, there are attorneys who just deal with basic real estate stuff, like evictions, property boundaries, etc. A transactional real estate attorney is savvy like an escrow company. You're in CT, right? I know wholesaling is going on because of Than Merrill and Flip That House show. That's all they show him doing is wholesaling houses in CT.

Marc, you don't just want any lawyers. You want to get a lawyer that understands real estate. I think maybe that's one of the reason you're having a difficult time with all this. Some lawyers may never heard of "assignment contract" and have no clue of what you're talking about, and that's why they probably would charge you more $$ for doing the reseach. If they don't know what "assignment contract" is in terms of Real Estate, then by all means find lawyers that do.

As far as LLC, i don't know but it shouldn't take more than $600 to do an LLC, but then again, it depends of the state and where you live. I was going to use legalzoom to do my LLC, but when i found out that i was going to pay $600, i thought i would perfer to pay the same amount and having a local RE attorney looking over every legal documents i would have come up with, then having to check in with legalzoom every time i need legal advice.

When i finally met with my RE attorney, he only charged me $400 knowing that i will be doing business with him on a regular basis. I look at value of fair trade. Would you prefer to pay $600 to do LLC online or would you rather pay the same amount of $$ or less for someone that you will be called upon every time you do Real Estate transactions in your area? That's something to think abou it. Good luck!

Lloyd

are there any R.E. investment groups in your area??? these are the ppl to ask for recommendations.also networking with these ppl or groups will save you plenty of time and effort.

I appreciate all the feed back...I did email that lawyer that Angela sent me, so I thank you for that...I will try posting an ad on craigslist for what I am looking for...So thanks for that advice. I didn't know bout a transactional attorney, so I will ask bout that when I do call...I am going to go post on craigslist, and hopefully find somebody...

As far as the LLC, I will look into legalzoom, or something to that nature...I think in ct, it isn't nearly $600, so I will check into that...It isn't necessarily the most important part right now, but I plan on setting it up after my first deal...

Thanks a ton again...

and sorry, forgot to answer the last post...Yes, there are RE clubs around, and have been to one so far...Really enjoyed it, so def be going back...Talked a little bit to a couple people, which takes a lot for me...I am the quiet type, but new I had to step out of my comfort zone if I want this to work...so I will def go back, and start asking bout lawyers...Thanks...Infact, I have a guys card that I met, so maybe I can email him and see if he is using anybody that may be able to help...

I contacted the attorney that had the ad on craigslist, and talked with him and his associate a couple times...Seems really good so far and they new what I was talking bout...Oh My God what a relief...Finally...And then I also took your advice to post on craigslist for an attorney...So wrote exactly what I was looking for, and got a response...And this attorney's email sounded awesome...He seems to know exactly what I am talking bout also...The first one I talked to who I contacted from the ad you sent me said $250 to check over the contracts and make any changes or whatever that needs to be done...so that isn't to bad considering the road I have been on as far as attorneys...And this second one that contacted me, not to sure so far...Only got as far as the first email(wrote back to him)and haven't heard anything yet...Granted that was only 15 minutes ago...But so far, things are working out...SO THANKS A TON...And hopefully nice things will come out of this...

attorney/ associates attorney or whatever is turning out great...I owe ya!!!This guy walked through everything with me...He is willing to meet with my partner and I plus the real estate agent...He has actually invested before...Not a lot, but still...He knows his stuff basically...and what he doesn't know, he said he has other people he can talk to...He was explaining bout finding a good broker, and he said he has been talking with some and they may work out for us also...On top of that he is talking bout getting a group of people to put up the money(kinda like private money or hard money) and then pay 20 percent or something back to them...Lota info, but I only talked to him a little bit, mostly bout the contract...So I am sure I will learn more as I go...So thanks a ton again...Which I have said a million and a half times...But I truly am thankful for your help...

This is AWESOME!
I am psyched for you!
These are exciting developments!
An attorney who understands and invests too!.
Has 'some brokers' that might work for you!.
Trying to get a group of people to come up with the money!
Pricelss! Priceless! Priceless! (It's like a mastercard commercial designed for RE)

Now, is this the guy you advertised for?
Or the one who posted the impressive ad that I sent you?

Angela

the one you found me...see what I mean I owe ya lots...
This is turning out wonderful for me...Believe me, I went from an ok day, to feeling great and wonderful when I got the phone call...Who new talking with an attorney could make my day???I pray that this works out well(which it already has)and continues...He also said he is about building long term relationships also, which is wonderful news too...

Now of course I will ask you, to save everyone else the trouble ...

Please post the ad that you put out there for an attorney; when you said that you wrote exactly what you were looking for and got a response ... I would love to see that ad.

Looking forward to how this plays out for you.

Angela

ok, shall do, I will get that ad, and post it under this forum or whatever you call it...Remember, it is the attorney you found though...Although I did get response for my ad I put on craigs list...Just not going with them...

Here is the ad I posted on craigs list to find an attorney that can help with wholesaling or assignment contract...Whatever you wish to call it...

I named it simply LOOKING FOR REAL ESTATE ATTORNEY

then the actual post was

My partner and I are looking for an attorney that knows about wholesaling..."assignment contract" We need a lawyer with experience, and can look over the contracts to make sure we are covered before we start putting offers in on properties...If you can help out, please email us at [edit: please do not post emails or phone numbers]

Simple, to the point and got some great feedback, especially from one attorney(who I decided not to use cause I liked the one Angela found for me)

Got meeting with agent tomorrow, and will find out if he is on board completely, or if he has been all talk...We have done what he needed my partner and I to do, so know it is his turn to do what we need...I have told him since day one, we wanna put lots of offers in, and they would all be low...he wanted us to find a good attorney, which we have stumbled upon with some help, and that was the last thing needed for the agent to feel comfortable to start putting in offers...He wanted to make sure we were covered to protect ourselves, which I completely understand...I am excited to get past that roadblock...Of course we have had a bunch more that just the whole attorney roadblock, but we have not giving up and keep going at it...Just a step closer to success...Although I consider myself successful already considering how far I have come...Now that we have what we need, I am ready to go at this a million miles an hour...Anyways, before I babble on and on, I will keep this updated with progress, both good and bad...Thanks for the encouragement and the help...Of course, I am sure I will need tons more...So hope you are willing to continue helping me.

Met with agent yesterday, and it went well...He is all set and feels much better after hearing from the attorney...He is going to make a final draft of what we need in the offer that the attorney said we needed, or needed to change around...So that is def good news...That means it is time to put in offers...I asked him if he is still willing to put in a lot of offers, and he said "OH YEAH"..."I am willing to do anything." So that works for me...Got me excited too...So now is the time to start marketing big time to bring the sellers to me, as well as looking on my own...

Now there is also a property in the next town over that somebody is looking to dump basically because he wants to sell his house in florida, sell his place here and pay everything off and not have to deal with it...It is a multifamily house(i believe 4 appartments in it)Selling it already cheaper than it would be, and my agent told me he is willing to probably drop the price more, especially if he gets his Florida home sold, and is willing to pay all closing cost and possibly sign a note also...

Some more good news bout this is all the apartments are full, and right now cash flow $2200...Of course if I pay more than he did for the property which I will, it wont cash flow as much as that, but still...And the guy on the first floor I believe, does the plowing, mowing the lawn, fixes things as part of his agreement...Im liking this alot...Now the next step is to def try and find some kinda financing for it...I could always try the assignment, but this property sounds like an awesome first deal to keep for myself...Of course I would check into it and not go by just what I was being told, but still...So that is def on my agenda to do...And I guess that is about it for now...

If this guy wants to sell his property here and another prop. in FL it seems to me like he might be an investor. Many investors own property outright. Dig deeper, maybe he will owner-finance the multi-family. It sounds like a GREAT investment to me. I would ask and see what kind of response you get! (I might have a buyer for you if the positive cash flow is that good)

I forget, do you have my email address?
Send me a PM with yours.

I am glad that you have your attorney talking to your agent. I know that attorney is one of your best team members.

Angela

I will def dig deeper...I want this to work out...That would def get me even more excited than already am...I am going through a bunch of properties also as far as wanting to put offers in...so on top of that, gotta be putting the offers in on others too...The busier I am, the more things are going to happen...

I am beat...Today was good day overall...Lots of stuff that needed to be done, but accomplished it all and feel good bout it...Today I emailed the agent and attorney, so we can set up a meeting for everyone...Also wanted to find out bout the house that has cash flow already, and the guy wants to dump it...We may have an opportunity tomorrow to go check it out, and will def be trying to find out if owner financing is an option..."god I pray."If not, it isn't the end of the world, just gotta think of another option...Thats all...

On top of that stuff, today was all bout marketing...We created a couple different ads for advertising online...Craigslist, backpage hartford, lycos, places like that...Also, we made up fliers for sellers, and buyers...So hopefully start bringing some deals to us, as well as finding people looking to buy or invest in homes...Spent forever doing that...Plus made new business cards which I really like how they came out...we had generic ones that we had so we at least had something...These new ones look nice, and explain what we do, and provides info to get into contact with us...

I have the free website also, that I have made changes to work for what we are trying to do...Dean helped big time with setting us up with a free website...Thats huge I think...Busy, busy, busy...Don't want to make this to long, so thats bout it for now...Bed time, and hopefully wake up to good news bout being able to check out the house and working something out...

He wants to pay things off from what i am told...So basically sell his property in florida and sell it here and pay whatever he owns off...of course I will dig for more to hopefully gain some more leverage...

Unfortunately, gotta wait till next weekend to check out this multifamily home...So that sucks...Especially since I was looking forward to it this weekend...The good news however, the owner of this place will be there...So that can def be beneficial...Also some more good news, this tuesday we are meeting with the agent again to let him know which places we want to throw offers at...So that is def good...Bout time...Believe me...After all the hold ups, and "roadblocks" I am more than ready...Still don't know what I am doing, but doing it anyways!!!

Good stuff!

Randy

"MAKE YOUR ACTIONS COUNT"

Hi,
you wrote:
'Still don't know what I am doing, but doing it anyways!!!'

I am so proud of you!
You have learned so much and you know more than you realize!

Tell us about your partner ... friend? family? love interest?
Give us a name at least!

Angela

My partner is actually my uncle/friend...His name is Chris...When I was younger, and him and my aunt were still "dating" he would always hang out with me, and was very good to me...Always helped me through everything...So I call him my friend more than my uncle...Guess thats just the relationship...Anyways, him and I talked for a while bout real estate, and didn't know how to really get started...We just new we both wanted more/better things than we had...He saw a program on tv, but me being younger said, Ill check it out online first to see whats up and what others say...So luckily I did that, cause the person he saw on tv scamed and still scams tons and tons of people...And thats when i cam across Dean and everyone had good things, with few bad things...but that is normal like anything...Tons more good than bad though with dean...So grabbed be a real estate millionaire from the book store, and went to town on it...And we both joined the success academy and have been working hard on it...Of course as you can see, many bumps in the road, but aw well...thats all they are...

Its funny, cause it is working out like I am the boss, even though we are doing it together...He even tells me that if it comes down to a decision that we can't agree, I am the final say...I guess he has a lot of faith in me...Plus I am more involved anyways as far as the real estate...Constantly on here, or reading/rereading the books...He is like the silent partner...Of course he helps with setting the meetings up, and goes to the meetings, and is searching for houses, and helps with setting the business cards/fliers up...As long as he is helping out, thats all that matters...If I like something, and want to accomplish something, I do!!!No matter what...Even if he came to me tomorrow and said he didn't want to do this anymore, I still would...So all in all, he is a big help to me, and have no problem what so ever partnering up with him...We make a good team anyways, and have a good time doing it...

I don't think I could do this with a "love interest" cause all the girls my age are crazy...Maybe its just my area, or its who I attract, but my goodness...It's a wonder I even like girls anymore...jeez!!!But anyways, now back to important stuff, real estate...

met with agent today, went well...Went through a bunch of houses and will be putting offers in on those very soon...Very excited that things are rolling again since finding an attorney...So waiting to get the papers emailed to me tonight or tomorrow so I can sign them, and fax them back to the agent so he then can put the offers in...So Hope Luck Is On My Side...and saturday is getting closer, so cant wait for that either...Things are rolling now, and hopefully can get some deals done soon...

agent hasn't gotten back to me with the things that needed to be signed...I gave him a couple extra days, but I am going to call him today if I don't get it by noon...Kinda frustrating...Especially when he says he is going to do something and doesn't...If he keeps that up, going to have to find somebody else...

figures the agent leaves me hanging for a few days, not letting me know what is up...So I post earlier bout being frustrated, and he calls me 15 minutes ago, right after calling the success academy...So I guess the academy really is good aren't they???Anyways, he conformed bout the multifamily we plan on checking out tomorrow, and he is bringing the contracts for us to sign so we can put in a bunch of offers...So very exciting...Woulda been nice if he could have called or emailed to let us know what is going on, but atleast I feel better knowing now...And I do keep getting hits from my advertisements...So def ready to get these offers in...

Happy to check in on your "unofficial' journal and see that things are rolling along well it seems!

I am glad that you have your Uncle/Friend Chris as backup, it is great that he puts so much belief in you!

I am so sorry to hear that all the girls your age and in your area are crazy! That really is too bad! I am sure it is NOT you, I am an excellent judge of character! (I was laughing out loud at your post on this subject)

Hmmm, I wonder if they will stop being crazy once you make your first RE $M !

Have a great weekend and let us know about that multi-family prop.

Angela