Contracts and Offers

Been out of the REI loop, for far too long! Trying to get back into the swing of things by starting off with doing a bit of birddogging, but am scared shirtless about how even, to do that! I've already talked to a buyer who said he'd pay me a nice fee, but again, I can't remember how to even birddog correctly! Should I have some contract between the guy and myself, that will guarantee my payment if he buys the property?

Yep, you heard right! 120 hour work weeks and still struggling with day to day life! Within the past several months, there's been a boom in home buying around my area and that ol' REI bug has been eating away at me hard! I know that the way of going about investing these days, has markedly changed, since the days of old, so if there's any good advice out there for me to use in locking up and assigning property contracts, I'm all ears!

Hello all!

I want to get out of renting FAST!

I'd like to approach a few FSBOs and offer a plan to purchase or rent to own. Please give me all your ideas.

Thanks.

Ter

Hello,dg family in need of some help.Im in the middle of assigning a contract with an in buyer,is there any way it can be done without seller knowing how much of an assignment fee i will be getting other than doing a double close.Any help would be greatly appreciated.

Hi, We'd like to invest in a rehab property, (through our LLC), with trustworthy acquaintances, but would like to get a written agreement in place. This couple has purchased the property for $185k with hard money and have put in $40k out of pocket so far toward the rehab with another projected $40-$50k needed for completion. There are 2 other silent investors who have put up $30k each. We're coming in late to the party.

We'd put in $35k and have equal say with the owners in all aspects of oversight of the rehab process, staging and selling decisions. The net profit would be split 25% for all. Is there a standard contract available that would cover this relationship or should we consult our attorney. All parties are in Arizona. Thanks in advance for any advice we can get.

Hello DG community. I have recently found what I consider a rare deal. I have received information regarding a property I have a chance to buy. I don't want to go into details on how I know this information, but I have recently talked with a lady who currently owns a home worth $170,000 in good condition. She is seriously delinquent on her mortgage missed 3 payments in 2015 and hasn't made one payment in 2016. She currently owes $42,000 on her mortgage and has awful credit I have seen her full profile. She has not been served a foreclosure notice yet. She explained to me she thinks the home is only worth $120,000 and Zillow and trulia and Redfin est. are $167-170,000.

Hi DG Family

I am a new bee here in San Diego California doing wholesaling. So average price of homes here are around $500K, assignment fees could be $20-50K.

So once I find a deal and lock the purchase contract I email blast to my buyers, they come and look and one of them takes the deal including the assignment fee, but once I have to sign the "assignment contract", and as soon as they see my assignment fee they get cold feet and back out.

So the question is other than double closing is there a way in escrow to assign the purchase contract to the new buyer without having them see the assignment fee?

Hey all,

So I am pretty new at this. I don't even have buyers or sellers yet. But before I really start searching, I wanted to make sure I have a few things down.

I have talked to my Economics teacher about real estate wholesaling, as he has done it before. And basically what he said is that I should use options instead of contracts, so I am not legally bound to buying the house within the set amount of days. So basically, I won't get into a tricky situation should I not find a buyer for the house.

I have been wholesaling for a few months now, using bandits, ads on backpage and Craigslist, and realtors leads. I have done one deal successfully, and Im hooked. Now i want to find as many deals as possible, so im starting 25:1 strategy. My question is, Do you make your offers purely based on numbers sight unseen? And just hope you get 10-20% accepted? Then sign contract and have inspection contingency ? Any info will help

Thanks!!!

NZ

Is there a way to use a property locator to find the properties and then use the IEE to get the deal locked up and sold to an end buyer and have both the property locator and I paid out of escrow? Can the "invoice" be used to get both I and the property locator paid?
I was also asked if there was a contract to sign for the "bird dog" and if not what assurances did they have that they would get paid for the information provided. Is there such a form?