Updated over 8 years ago on . Most recent reply
Need help writing Sub2 contract for new member with no experience
Hi everyone,
My name is Malinn Lee. My husband and I sold our house stuff everything we can in a moving container and moved to Colorado a year ago. We want to get into real estate and have no experience. We want to flip house and acquire proprties thru subject to contract in Colorado. Can anyone assist, guide me in the right direction or provide example on how to write up one and what is the most crucial item that needs to be in the contract. Thanks, I need all the help I can get with my lack of experience.
Most Popular Reply
Malinn Lee how about partnering with the home owner. Creat an LLC that you both own 50/50. Quit claim the property into LLC. Make sure they move out before you pay the past due, and change the locks. or they could stay there and you would be s.o.l. If they try and stay. This is better for the owner and now they can make some money too. It's easier to negotiate something like this. Split the cashflow, split the equity.