Updated about 9 years ago on . Most recent reply
"Texas wholesale contract question"
What forms are used to put a property under contract? I may want to hold property, but I'm not sure if I financially can do it. I want to re-assign if I can't make it a rental for myself.
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Emerson, please take this as constructive criticism. Nearing two decades in this business I can tell you a one page purchase/sale agreement is "fool's gold" and will eventually place you in serious jeopardy. There are simply too many mandatory disclosures that need to be made in Texas depending on what side of the transaction you're on. I'll give you the same advice I gave earlier...if you don't know what forms to use don't make the mistake of thinking you'll understand contracts, contract law, surveys, title issues, etc...all of which are part of a successful transaction.
Do yourself a favor and find someone in your area to partner with. Learn what a deal looks like, then find a deal, then let the experienced investing partner help you do it right.