Contracts and Offers

For some reason, when I find a HOT deal that I myself cannot purchase, I always try to keep the prospect open by offering to bring a BUYER to the table for a finders fee.

Now, I've talked to Dean's Coaching team, and I understand that the FINDERS FEE is an agreement I get in writing with the END BUYER to pay me a FINDERS FEE for bringing them a deal that they end up buying.

For whatever reason, after I start marketing this deal to other Buyers on my list, or within my social networks - I will get hits on them - AND, as soon as I start saying anything about getting a contract signed on what my FINDERS FEE would be on this deal - they disappear.

Hello DG family ! I need your Help Please !
My brother just wants out from under his house in Indiana. My brother and I both grew up in Indiana and we both now live in south west florida.
His house is 712 sq. ft. 2 bed 1 bath w/car port. His payments are $149. per month (taxes & ins.included ) and the mortgage balance is $11,000. The repairs needed to make it Rentable are around $5,000.
I pulled it up on Totalviewrealestate.com and Zillow est. is $35,074. and the value range is $26,625. to $71,000.
My credit is not good and i don't have the money to rehab. I want to take over his payments. So what contract do i use ? I would like to have and /or assigns in the contract. How can i get the rehab money ?
After rehab , i want to tent it out through Section 8.

I am trying to team up with other investor and I need a sample of a JOINT VENTURE or a LIMITED PARTNERSHIP contract. Can anyone help? I have been looking on the web for quite a while and I can’t find anything. Just need to see if the DG family can assist me with this. I also have been reading and there are a lot of people in the DG family that is looking for this.

Please attach a sample.
thank you

I am contemplating buying a new fax machine; can someone who's doing a lot of contracts of signing of papers tell me if you use you fax machine alot. I am just wondering if I need a new fangled bells and whistles one. I used to live overseas and had a top of the line one that I liked, and now I have one without the phone attached. Any thoughts?

So I just asked a realtor that I know if assigning was legal in our state. She had no idea what I was talking about; is this normal? Does anyone know how to look this up? Thanks, Tammy

I am trying to do a rehab, but I know nothing about the construction end of a deal. This is why I need a partner. I have the money and market knowledge, but will definitely need a partner that can do and manage the work, but I don't know how I can legally be protected and what would be considered a fair deal. Any opinions on what I should be doing? How can would I structure the deal and protect myself?

Hi all,

My partner and I are just finding a realtor that is aggressive and willing to work with us! We are trying out Matt Larson's 25:1 system, we got our 1st list of 100 listings from our realtor, based on the criteria we gave him. We sorted through and found the ones we want to make offers on and got that back to our realtor. He (our realtor) said the written offer letter was 6 pages long so he would do 5-10 at a time send it to us to get our electronic signatures and from there we should expect to get our offers back within a couple of days. Ok, so all that is cool, what I am confused on is the offer letter. Should our exit clauses be mentioned on the offer letter? Or is this just something used on the contracts?

I am an new real estate investor with no credit history established to get a loan but have some cash to minvest not alot though maybe about 5k and i found an fsbo in a nice neighborhood and commute that goes for about 79000 on zillow but their inaccurate anyways? I know in my heart this is a good deal but how should i follow through? Would a lease option with a sandwhich clause be good? any ideas please help

Details:

2 Properties sold in a package deal. 1.74 acres combined. 1 house is about 1,400 sq ft including the basement, which is not livable. The other house is abour 2,400 sq ft including the basement. Also not livable.

I got a bid for bringing them to a rentable state was $25,000 minimum

To resell, $50,000 minimum

To remodel, $75,000 minimum

That's just the bigger house. The smaller is less extensive as far as making it rentable, but they both have structural problems and cannot be financed.

Comps based on square footages were $247K fot the big one and $155k for the small one.

Cost to demo and rebuild both houses (replacing with four 2,000 sq ft houses which comp at about $247K each)is about $505,000.

If a house is selling thru a realtor for $100,000, and you put in a low offer of $60,000 to the realtor, does the realtor need to go back to the seller and tell them of this offer? Or can the realtor shoot the offer down without even giving the seller the offer?