OfflineI found two FSBO properties, after due diligence and research I want to get these homes under contract using the assignment strategy for quick cash. I've read the books and gone over the documents but I am still unsure of how to proceed, and partly in myself having never done a deal before.
Would I just use the standard purchase and sell agreement using and/or assigns after my name? Then Assignment contract then attorney for closing? Can attorneys handle deals nationwide or would it be best to use a local attorney from their state?
I've gone through other posts which helped but I am still reluctant. Any help would be appreciated.
__________________
What do the numbers look like?
You can either look for opportunities or make them.
http://www.deangraziosi.com/real-estate-forums/investing-journals/75933/...
http://www.maxwellpropertysolutions.com/
Both homes are priced mid 100s while recently sold homes sold in half mile radius sold for almost double. Property value websites (I used four) medium price estimate for first home almost 80 more than asking price and close to 95 on second. Websites give random numbers so I used four websites, plus recently sold homes in area.Owned free and clear and he set to purchase two more homes in the very near future so is eager to get these sold.
Hi,
Glad to see you doing well. I'm still learning and was wondering if you would share the names of the 4 websites that you used? I would appreciate it. I'm in San Diego, CA and was hoping to find out out when and where fellow D.G. Real Estate Investment groups meet. Thank you.
use those websites as golden. To find out true ARV have your realtor pull at least 3 RETAIL (Non REO) SOLD comps for the subject property. Take the sold prices and divide them by the sqft of the respective property. This will give you a $/sqft amount. Take and average the $/sqft of all the retail comps and multiply the average $/sqft by the sqft of your subject property. This will give you your true ARV.
Click Here To Buy Deans New Book!!! http://www.lanemccaw.bookimentioned.com/b/
Visit my website:http://qchomebuyers.weebly.com/
Visit My Facebook Page: http://www.facebook.com/#!/qchomebuyer
Visit My Linkedin Page: http://www.linkedin.com/pub/the-1-fast-ca-h-home-buyer-in-the-qc/28/b79/...
"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
If you want to use an attorney, I would choose a local attorney since every state has different laws...
Read the agreement; if there is nothing stating that you cannot assign, then you can use that agreement, and just put and/or assigns next to your signature.
When you're dealing with FSBO it is pretty straightforward... a standard agreement will do (DG has all the forms you need on this website).... you don't really need an attorney; once you have a buyer, just go to a title company that has a closing agent. The 'selling' price will include your 'fee'; everyone will see that, so be transparent about it with both the seller and your buyer...
sounds like you're on your way...
wishing you success,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Hi, Everyone
I have been farming the adds and stumbled across a landlord wishing to sell all 14 of his rental Properties. Twelve Single Family and two duplexes. He has forwarded a spreadsheet with a list of all of them. The spreadsheet includes current rent, approx value, Taxes, Sq ft, and short discription.
The total rent income is 10,500/Mo and the approx. value is $856,623.
I have no earthly idea of where to go from here.
Can someone help guide me or even consider partnering up.
Thirteen of these properties are in Madison, Co. Illinois and the other is in Macoupin, Co. Illinois.
I have only started with a basic intro. e-mail and I have not started the talk yet. I don't want to ssay the wrong thing.
Brian
We purchase and resell Homes. We also buy mortgage notes. We also take some debt takeovers.