OfflineThe Student Secrets book has an interview with Greg Murphy. He states he uses a Contract for Deed opposed to a lease option because a note cannot be created for this thing and the not cannot be sold to other investors. He states he uses a lawyer to draw up the contract. Question is what are we including in the contract? I don't know what to tell the lawyer to draw up because I don't know what to include. Is there a sample of this type of contract?
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You can go to Office Depot or Staples they have them and they are legal. Or go to LegalZoom.com and you can buy one there to.
Donna
Greg also states he has the buyer put a down payment which he may use some to fix the house and he puts the rest in his pocket. The buyer then is financed with a regular mortgage. Is the down payment stated in the mortgage contract, does the buyer have to put more money down when obtaining financing? Confused here?
I would recommend getting the new book. Greg's whole system is laid out in detail in this one. He has really perfected it and shares EVERYTHING, right down to actual images of his contracts and bandit signs. It is amazing. No detail left out.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
If your attorney doesn't have a sample of a Contract for Deed, then you need to move on to the next one that is willing to give you a sample. What use is an attorney that can't draft the paperwork needed to close a deal?
An attorney like that is normally the one that pulls the plug at the last minute. Stay away.
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