Say I see a property and know who the perfect tenant/end buyer would be for it. I want to get control of the property so I can rent or sell it to the end buyer, but I need to get some sort of commitment from the tenant/buyer first before I would buy the property so I can mitigate risk! What is the best way for me to have full control over the property long enough to successfully put the deal together and protect myself from:
- The attorney who looks at the contracts and sees the fat profit I'm about to make and decides he can afford to risk a bit of money so he steals the deal from me
- The broker who gets wise to what I'm doing and convinces the seller to sell to him instead
- The tenant/end buyer who feels like they would save money if they just wait until my offer to purchase contract expires so they can go directly to the seller and cut me out of the deal
- The seller who gets jealous as soon as he figures out what I'm doing and how much I'm going to make, and cancels our contract or provides more red tape so that my contract to purchase the property expires and he can rent or sell the property for a bigger profit.
Any clauses, contract ideas, and other strategies to protect myself as much as possible would be greatly appreciated!
*Best "way to"... Not sure how that part ended up missing, lol
bump... Please help!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!