Contracts and Offers

So I got a response to one of my adds from a guy looking for an equity partner for a double close deal he has and after looking at the numbers the deal makes sense. But I don't have the money myself to close the deal but I do know a transactional funding company that could with whom I have developed a relationship with. How do I make sure that once I introduce them to each other that I don't get cut out of the deal. I am not so much concerned that the funding company will try to cut me out as the guy bringing the deal as he currently has the deal locked up under contract and my name is nowhere on the contract.

I got to take a look at a foreclosed property that had alot of potential. My agent took me for a tour, and i was writing everything that needed for repairs. My agent is the best i think here in the area. so she is also estimating the repairs. i came up with 19,000 to repair and she said 25,000 tops.
Property Details.
3/3, 1292 sqft, 1 Car Garage, Nice Neighborhood.
ARV 130,000
Repairs 25,000
Starting sell price 62,000
Now 57,000
Offer 44,700
Potential Profit Wholesaling this Property is 6,000 if offer is accepted.
Re-Sell to End Buyer 50,700

Strategy to Wholesale this Property:
I made an offer under an LLC, and plan to sell the LLC to my end Buyer. I use an LLC because i cannot assign the contract of a Foreclosed property.

If any one has any pointers, FEEL FREE.

Probably a silly question, but let me preface this by saying I'm a newbie here, and just getting ready to put offers in. Looking for clarification... Specifically talking about houses off the MLS that your agent sends you.

When houses are listed below market value per the comps because perhaps the owners know it needs cosmetic rehab or what have you, how does this affect the 25-1 offer formula?

Hey Everybody!

Being an active investor and real estate agent I am working on contracts all the time. Let me tell you...I hate reading "legal speak" that is contained in contracts. In fact, the only people that do like reading this language are attorneys.

That being said, it is our responsibility, as investors, to become somewhat familiar with the contracts that we are dealing with. As a business person you should be able to talk about what is contained in the contract and what the contract requires of you.

Please don't leave the outcome of a deal or your business up to the knowledge of a real estate agent or attorney. Take responsibility and learn the contracts that you are using. You can get the opinion of an attorney but don't rely solely on their knowledge.

I am helping my father sell his rental property and plan on using my company to close the deal. My father owes 71k and we have an approved buyer offering 140k. I know I need to have and Investor Disclosure Agreement and Purchase agreement signed. Im just not sure if I should have agent who is representing both parties draw up the documents for us or how this works. I dont have a an attorney and this is my first deal, any information will help.
Thank You

What is ARV? I’m asked this question all the time from other real estate investors. So I’ll try my best to answer them here so others can benefit from the answers.

After Repair Value (ARV): Basically, what would a house sell for if it was in a sellable condition? If you work with an agent on occasions, you can ask them to pull a Brokers Price Opinion (BPO) for you on the property. Before asking, make sure you have worked with the agent or a least you are planning to work with that agent in the future, their time is very valuable too. If you subscribe to the Multiple Listing Service (MLS), you can pull a BPO on your own.

Investment

Hello All,

I have been involved in many multiple offer situations as a buyer, seller and listing agent. I just made an offer on a short sale late last week where they received multiple offers and they have asked for highest and best. There are many different strategies you can use when trying to win a highest and best situation. It is tough to know exactly what to do revise in your offer and how mush to raise your offer in a highest and best situation. The biggest problem in any multiple offer situation is you don’t know what other buyers will offer. All you can do is analyze the situation as best you can and make the best offer you can based on your own numbers and needs.

Writing up a contract for a real estate offer can be intimidating for many people. They feel as if they will make a mistake that will come back and bite them. Let's see if we can take away some of that fear.

If you are working with an agent then she will have state approved contracts to fill out. If you are making offers without an agent you can use the forms on this website located under forms and docs.

Read you contract FULLY a few times so that you know exactly what it says. Filling in the blanks is usually pretty easy if you understand the contract. Have your agent fill the first few out with you. With time you can have an agent fill out all of your contracts.

Also, use the coaches and other members of the DG family. Good luck to all of you.

Hi all,
Can anyone tell me if I am required to supply Articles of Incorporation to a realtor when making an offer? Any suggestions on the simplest and fastest way to get them? Can I use something else as proof of my entity instead?
Thanks for your help.
Belle