Contracts and Offers

Greetings DG Fam!

Question of the Day: What is the strategy once I get a property under contract as far as no money or very,very little money for earnest? What should be said to the seller and/or agent when you are suggesting no earnest money upfront or due later? I just want to know how to handle that once the times comes, and it will... I'm in the game now!

Thanks DG Fam,

Bernard
Douglasville, GA

DG Fam...

What is the best way to create a purchase agreement with the seller? Do I go pay a Real Estate Attorney and draft one? Do I use the contract the agent (when I find one willing to go hard with me) will provide? The simple the better right? Don't want to scare away the seller with a crazy long contract, nor have me scratching my head trying to understand it myself..

Bernard
Douglasville, GA

DG Fam!!! I know some of you may be aware of this, but I returned home from warzone Afghanistan to begin my quest to real estate investing. I am now unemployed so I must succeed! I will tell you, reading 30 Days to RE Cash, watching videos on IE, just watched The Edge, I AM ON OVERLOAD!!! Different strategies to wholesaling from different students... Which one? Do I still just follow the book first then maybe try the other strategies? Pertaining to the subject, Proof of Funds.. How do you get proof of funds verification if... YOU DON'T HAVE THAT MONEY TO VERIFY?? Confusing... I need your help DG Fam.. Wholesaling experts, I need your guidance! I am about to begin the journey..

Bernard
Douglasville, GA

Can someone please tell what is the purpose of putting a property under contract?

The seller wants to sell his property for $62,000 but is willing to put it under contract with me for $60,000, however the buyer is only wanting to pay $55,000, and chew me out because I didn't have it under contract. What since does it make to put the property under contract for a certain price if your buyer wants it for less?

I have an investor putting up 25k for us to do a rehab. Do we have a contract for a note or does someone have one I can use?
Also, do you normally record this note?

Well I've always provided full service wholesaling in some facet or another. I am now looking to advertise it to others, as it is often discussed. So anyone looking to get into the Indianapolis, IN market and pick up wholesale deals, please contact me. I have a strong team in place (banks with no seasoning refi, property management, contractors, title company, realtor) and we're ready to go! We can also provide turnkey.

Can someone explain to me about the Assignment of Contract can do for me as a wholesale consultant? Is this the document I need the seller to sign to allow me to list their property with my buyers?

Hi DG Family,

So I know how to wholesale properties here in the states but where can I go for resources for wholesaling in the Bahamas?

Can I use my normal purchase and sale agreement contract and submit it here in the U.S. or do I need to find a title company out there?

Would I be able to assign or do a double closing?

Any direction would be greatly appreciated.

Best,

Larry

I have a home in the nice part of town that is valued at

appraised in 2012 at 808,900
last sold 2008 679,000
realtor comps today 695,000

Asking 499,900
I offered 410,900
counter 450,000 with $1000 EM

4 bed 3.5 baths restored nice home. Thinking to offer 425,000 which would be about 61% of 695 realtor comps. Thoughts? Would this home sell fast to an investor or is it hard to tell from these numbers? Thanks for any help!

http://www.countryliving.com/homes/real-estate/south-dakota-town-for-sal...