Contracts and Offers

Today, I just got an offer accepted for a 4 BR 1 BA brick 2 story house with a stable 3 year tenant already in place. I will be assigning this for $5000. Hopefully will be deal #3.

Another property that I've had under contract for quite a while, but he still wants me to sell it for him. Brick duplex with 1 BR 1 BA each. He wants $27,000. I have tried to sell it at $30,000, but I keep getting people who want to rent to own. I talked with the owner about doing a lease option but he decided against it. He said he would consider owner financing for 1 year with $12,500 down. So as soon as he lets me know what he wants for the payments and % interest, I will re write the contract.. THIS could be deal #3!?

I told my REA that I have buyers looking for rent to own properties and I have actually seen some on the MLS. So she will be looking for those. I'll be assigning these so I will be able to get my fee upfront (or at closing), but how does the REA get her commission? Since the purchase won't be until a future date in time, will her commission be added to the down payment? That doesn't sound right to me.. If anyone has an answer, please let me know as soon as possible.

Thanks!!!
shirley

I made a goal last week to put in 2 offers by the end of the week which I was all set to do and in conversation with my realtor she said because they would be cash offers that I would need POF. I have my buyers in place and waiting to hear from me, I am planning on assigning the deals but I am stuck on this POF part. It's not that I haven't heard this term before but I don't have the money and I don't know how to get around this. Do I ask my buyers for it.

Thanks in advance,

I have been doing the 25:1 system with my agent submitting offers. On quite a few properties the response I got was "formal offer required with earnest money deposit". I am in Los Angeles, CA, has anyone else run into this and have a solution? Thanks!
Caesar

Today I put a property under contract for $90,000. I gave myself 30 days inspection. Why? Because this is a monster like I have never seen before and there are no comps within 1000 miles I'm sure. These people are living in a 14000 SF building.. 7000 upstairs and 7000 downstairs. I know, it's crazy. Okay, here's the scoop. They have 9 children and 2 great danes so they utilized every square inch.

Help! I have a mobile home owner who is asking $8,500 for his 1998 very outdated mobile home. This could be possibly my first assigment deal, but I do not know anything about mobile homes and not sure what to offer.

Hello Everyone,

Can anyone send me a sample letter that you send to vacant/abandonded properties after you have found the owners info?

Thank you,

Jenn

The housing and mortgage mess that began to unfold in 2007 created a lot of change in the lending and real estate transaction businesses. Title companies that used to do double closings and fund one deal with the proceeds of another are pretty much nowhere to be found now. However, there is a way to wholesale and flip properties with back-to-back closings without using your own money.

when we making offer and accepted and found buyer and all that, do we have to be there in person to do all the paper work?

Making money through real estate is a tried and true way to wealth for many people. Investors may specialize in different areas of real estate, such as residential, land or commercial. Some investors "flip" houses for profit, while others hold on to real estate for a long time. Some investors advertise online, while others are found through word of mouth. If you want to find real estate investors, you have to go where they go. Most investors are very interested in working on deals relating to their specialty, so it is not hard to get their attention.