Contracts and Offers

I have seen a lot of forums on assignments and have an ok idea on the steps I should be taking to complete an assingment deal. However, I am still very shaky because this is my first deal.

I'm having a difficult time findig a lawyer who specializes in real estate law. I wanted to see if I would be able to do an assignment on this house and if so, do I need an addendum and where do I go to get it. Also, how do I go about presenting these papers to a the buyer and the realtor.

The house is owned by a mortage company and it's $7,000. I'm trying to make $5,000 from the assignment. I also have no money to give them the required proof they need to show that the house will be bought with cash.

hey all

if a property is bank owned the investors disclosure statement is still used along with the investor purchase agreement then the property disclosure statement then the discharge of agreement to the purchase agreement then what??? do i do an assignment like i Would if they have cash? The buyer needs financing. or is there another form to pass off the deal to get the financing. and also do i get paid from the buyer directly or does it come from the bank from the equity of that property?

sorry alot of questions trying to work first deal

HELP PLEASE

RAUN

Hello DG Family. I am trying to find the Option to Purchase Real Estate Agreement, the one from Dean's "Profit from Real Estate Right Now!". Located on page 160.

I have been getting quit confused because it seems that different names are being used. For ex: In Dean's book he calls the agreement "Purchase Agreement", but the picture snapshot shows "Option to Purchase Real Estate Agreement". I thought these were 2 total different kinds of contracts. I have also searched this forum with the same results.

Lets say i have the property under a flex option, and i find an interested buyer ready to purchase, how do i go about going through the final process so i can get paid? im stuck, anyone able to assist me on this one? i think im just missing a few pieces to make this puzzle a full picture. Im also a little confused as to who will be paying me buyer or seller?

Is Flipping Illegal? A Brief History Of Flipping And Title Seasoning

Flipping, the technique of buying properties and quickly reselling them for a profit, is one of the oldest and most widely used real estate investing techniques. Yet, people unfamiliar with flipping often ask, isn’t flipping properties illegal? The answer is…it depends. If you do it legally, it’s legal. If you do it illegally, it’s illegal.

The # 1 Way To Make Money In Today's Market

Here are the nitty gritty details of pretty house wholesaling. Regular wholesaling is when you wholesale a junker property to a rehabber. You use the wholesale formula ARV x .7 – repairs – your wholesaling fee = your purchase price. With a traditional wholesale deal you are finding a cash buyer to assign the contract to. I wholesale properties that need major repairs because in my opinion major rehabs are a waste of time (I do paint and carpet most).

Flip Formula

If you’re gonna make money on a flip, which I hope that is your goal! Then you must make a promise to yourself…Now raise your right hand and repeat after me:

I saw an article on using land trusts for protection and privacy. I'm extremely interested!! Does it work today? Please educate me! One at a time, please. Everybody please don't jump in at the same time family...

This offer stuff is driving me nuts. Anyway, the house is a single family. 4 bed/1 bath. 1 car garage. 1380 sq ft. Needs a new kitchen, new bath, floors, paint, landscaping, siding and windows. So, pretty much everything has to be touched. I'm thinking a rehab of at least $35,000.

The house is on the market for $129,900. Owner is motivated! Wants out bad. My realtor says he will take anything. Hmmm... riiiiggghhhtttt. We'll see

TotalView says $131,000
Zillow says $157,000

I don't have true comps yet so I picked $140,000 as the ARV.

140,000 x .7 = 98,000 - 5000(our fee) - 35,000 (rehab) = $58,000 offer
a coach on the hotline told us to figure it this way

or

140,000 x .85 = 119,000 - 5000(our fee) - 20,000 (buyer fee) - 35,000(rehab) = $59,000 offer

Hello Fellow DG'ers:

Please click on the link below and you will hear a recording provided that George Roddy and Tim of "Flip That Contract" posted of an interview they had with Attorney Bryan Dunklin of Texas. Attorney Dunklin spoke with Trent Thomas, Chief of Staff to Representative Darby in Texas.

You will find that it is "ok" to assign contracts in the State of Texas. This is for those that did not already know this...Here's the link below:

http://www.youtube.com/watch?v=SdqvzTdmlu8&feature=youtu.be

IF you cannot click on this link, just paste and copy the link into your browser...

What a relief!!!