Comments on: How to Complete Your First Real Estate Deal in 30 Days http://www.biggerpockets.com/renewsblog/2008/09/07/how-to-complete-your-first-real-estate-deal-in-30-days/ Learn, Network, Invest Sun, 22 Nov 2009 10:53:57 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Ned Carey http://www.biggerpockets.com/renewsblog/2008/09/07/how-to-complete-your-first-real-estate-deal-in-30-days/comment-page-1/#comment-59943 Ned Carey Thu, 11 Sep 2008 06:36:45 +0000 http://www.biggerpockets.com/renewsblog/?p=1323#comment-59943 Thanks for quoting me. This must be my fifteen minutes of fame. Reiathreja, Contracts can be simple or can be complex but at least you read them. That is key, it amazes me how many people do a real estate deal and never read their contract. That is where the details are decided and those details can cost or gain you a lot of money. Thanks for quoting me. This must be my fifteen minutes of fame.

Reiathreja, Contracts can be simple or can be complex but at least you read them. That is key, it amazes me how many people do a real estate deal and never read their contract. That is where the details are decided and those details can cost or gain you a lot of money.

]]> By: Real Estate Jim http://www.biggerpockets.com/renewsblog/2008/09/07/how-to-complete-your-first-real-estate-deal-in-30-days/comment-page-1/#comment-59892 Real Estate Jim Mon, 08 Sep 2008 21:04:50 +0000 http://www.biggerpockets.com/renewsblog/?p=1323#comment-59892 Sound, very realistic and yet encouraging guidance. Thank you for this post-very helpful! Sound, very realistic and yet encouraging guidance. Thank you for this post-very helpful!

]]> By: Joshua Dorkin http://www.biggerpockets.com/renewsblog/2008/09/07/how-to-complete-your-first-real-estate-deal-in-30-days/comment-page-1/#comment-59883 Joshua Dorkin Mon, 08 Sep 2008 14:51:35 +0000 http://www.biggerpockets.com/renewsblog/?p=1323#comment-59883 You're completely right about formal agreements. I especially emphasize having these when working with friends or family. These types of partnerships are usually the ones that require written agreements the most. You’re completely right about formal agreements. I especially emphasize having these when working with friends or family. These types of partnerships are usually the ones that require written agreements the most.

]]> By: riathareja http://www.biggerpockets.com/renewsblog/2008/09/07/how-to-complete-your-first-real-estate-deal-in-30-days/comment-page-1/#comment-59880 riathareja Mon, 08 Sep 2008 10:56:10 +0000 http://www.biggerpockets.com/renewsblog/?p=1323#comment-59880 I recently invested in the real estate and discovered how important role formal agreements and legalities play in it. I never expected it to be such a tedious task. Contracts seemed to me pretty simple at the first glance but the whole procedure got a bit complicated later on. After getting done with groundwork of financing, settling down with an area of investment, sending the letter of intent to the owner, etc I was all ready to put everything in a contract. Initially I thought I will be able to manage the whole procedure all by myself. But later I decided to take the help of some real estate consultant or attorney for it as it gets very difficult for first time buyers like us to deal with all the paperwork. . It’s very important that everything is covered without missing out on anything. As contract plays an important role in protecting huge amount valuables. What I have learnt from my experience is -Don’t rely on verbal agreements, make sure it’s written down and part of the contract. I recently invested in the real estate and discovered how important role formal agreements and legalities play in it. I never expected it to be such a tedious task. Contracts seemed to me pretty simple at the first glance but the whole procedure got a bit complicated later on. After getting done with groundwork of financing, settling down with an area of investment, sending the letter of intent to the owner, etc I was all ready to put everything in a contract. Initially I thought I will be able to manage the whole procedure all by myself. But later I decided to take the help of some real estate consultant or attorney for it as it gets very difficult for first time buyers like us to deal with all the paperwork. . It’s very important that everything is covered without missing out on anything. As contract plays an important role in protecting huge amount valuables. What I have learnt from my experience is -Don’t rely on verbal agreements, make sure it’s written down and part of the contract.

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