Contracts and Offers

Hello DG Family, I'm new to real estate investing, I have been reading Deans books for about 45 days now, I have some adds out for buyers to build my buyers list. The area I am looking for assistance in is I found a 2 unit duplex brand new no one has ever lived in them, the person that was building them moved out of state, so how do you determine FMV on a new unit and would you be able to get the 20% to 40% discount. He has already discounted the property 10-11% but the yard work is still left to be done. Could someone give me some advice please.
Thanks,
Keith

Do anyone know how to compute ARV with repairs. I mean, how do I calculate ARV price with the needed repairs. Also, how can I draft a convincing offer letter to the sellers to prove my case on why my price is LOW. If this sounds stupid sorry

--Jason

Hi All,

I was wondering what is the proper way to make a profit, since Im not a license real-estate agent being a investor if I help a homeowner sell their house to a willing buyer how can I make a profit from the deal. Should I tell them to put me in the contract and get paid at the closing. I know normally if I sell to another investor I could put the property on contract and sell the contract to the investor.

Thanks

Michael

I think there should be a place in this site that shows how to fill out these contracts. I have printed the contracts under the student resources.

I will be dealing with FSBO and assigning contracts not sure how to fill them out properly. I have an appt with an owner to show me his property tomorrow.

I've been searching on this site to find someone that has posted to show how to fill these contracts out and not been lucky. The forms I'll be using are the agreement to purchase and assignment of contract.

Would someone please help us new people? Or refer us were we need to go. I am determined to get started I like to be in control of things. I know once we get the concept of how to fill them out everything will be in the box.
817-694-2529 if you prefer to call. Thanks mellena

Hi! I meet with an owner in a couple of days. I want to sell to an investor. My question is if my offer is accepted what contract do I need to bring with me to the owner? Do I bring an agreement to purchase and an assignment of contract.I know to assign the contract to the investor as an (assignment of contract) but what about the owner? And not sure how to fill the forms never done it before.. Thanks

I didn't get a response the first time so I'm trying again!!

There is some great discussions in this forum regarding Lease Options and I have read quite a few threads on different topics but cannot seem to find any information on this matter: When sandwich lease optioning who is responsible for home repairs such as a bad roof, blown furnace (or even just a failed furnace), foundation repair, broken pipes, etc. I understand the current owner is responsible for taxes and insurance, but taking on the big ticket items is something different. Everything is negotiable but I'd like to know if there is a general practice here. Thanks!
-Tom

Many who start feel uncomfortable making offers while they start. The question might be what if the offer is accepted what do I do with this or other questions may arise.

Here is the idea, and this is not new just represented. Make offers with contingencies. Contingency clauses will allow you to make 100 offer per week and have all of them accepted. How exiting that would be.

If you had contingencies on your offer you would then be able to pick the offers you actually want to work on and let the rest of them go by submitting a letter to the sellers that you are dropping the offer because of the contingency clause.

This also works in the case that you had a buyer then lose the buyer or if you are concerned that the property will not work for the profits you are looking for.

When you are filling out a offer to purchase contract when using a partner how would you fill out the buyers line. DO we put both our names on it? Or can we write up a separate contract between my partner stating that he will get 50% of the profit? Reason i ask this is because i explained my plan to him and we went to his father for financing and he agreed. So now on some deals i will be including my partner to use the available funds when need be. Anyone who can share their info on this subject i would appreciate it. Thank You!

Andrew

I have been currently tryn to get a POF letter. Before everyone tells me about Coastal and other sites that do this, it costs a bunch of money at closing and only works with back to back closings. I have a relative willing to back me on some deals. I was wondering how can i get a proof of funds with using my relative? Can we just draw up a contract stating that he/she is lending me the money and use that as POF? Or do we got to draw up a contract stating how much is being borrowed and how it is to be paid back then get a check from my relative and deposit it in the bank?

There is some great discussions in this forum regarding Lease Options and I have read quite a few threads on different topics but cannot seem to find any information on this matter: When sandwich lease optioning who is responsible for home repairs such as a bad roof, blown furnace (or even just a failed furnace), foundation repair, broken pipes, etc. I understand the current owner is responsible for taxes and insurance, but taking on the big ticket items is something different. Everything is negotiable but I'd like to know if there is a general practice here. Thanks!
-Tom