Hello everyone, I've been studying Real Estate Investing, reading the books, watching the Videos, reading the Forums, and going to the local Meet Ups and REIA's. I have an understanding of how to do it, but I don't have the capital to get started what I want to do, which is buying single-family and Multiplexes because I'm a full-time single Father and Disabled Veteran, so I want to raise the money through wholesaling. I just need to make sure I'm filling out the Purchase and Sale agreement and Assignment contract correctly for Colorado. When I looked through the ones here on BP I noticed a someone saying that they didn't think that that would hold up in Colorado; this undermined my confidence in using them, so I reaching out to see if I could give some guidance.
I've studied no it's time for some action, so any help is appreciated. Also if anyone is up for wouldn't mind working together, I have no problem doing most of the work, filling out the paperwork, and sharing the profit for the first couple of deals to get actual real experience to would be great. I am looking in the Springs and South Denver.
Thanks everyone in advance!
You might find some success in partnering with another local who is also wholesaling. Each state looks at wholesaling differently - in regards to representation, liability, licensing, legalities, etc... "filling out paperwork" is traditionally a job for somebody with a license. Here in UT there are very few rules specifically about wholesaling - I don't know how CO looks at it, but I know UT is starting to take a much closer look at wholesaling and I would expect this market to tighten up a little bit when we've got more rules in place.
Don't be scared of the forms. I'm not personally familiar with the ones on BP, but google the "Division of Real Estate Contracts and Forms" from DORA at colorado.gov. They have all the forms you need to handle the purchase and sale, straight from the government. I've used them successfully with no help from a lawyer or an agent. Standard disclosure, I'm neither.