All Forum Posts by: Dwight W.

Thanks, Elio! I'll take a look at that.

Another question about using an exit strategy.  I saw similar posts but none were specific about the procedure of exercising your option to exit the contract.  I was wondering how that is communicated to the seller?  Is it done through the title company or just a memorandum directly from you, the investor?

Here's a video from Phil Pustejovsky about what landlords should know:

http://youtu.be/i994CSg2OYE

Thanks Mark!

@Kris- Hi! Good point about the memorandum.  I just want to add that the memorandum should be recorded IMMEDIATELY!  You have to be extra cautious these days, even with sellers.

IMO telling his wife won't make him anymore of a man than he is now.  Now, on the other hand, if he was friends with the wife also then he should talk to them both at the same time.  Otherwise, it's not his place to do that.  He could jeopardize his personal relationship as well as business relationship with his friend after the dust all settles.

Hi!

  This question is mainly for those that are investing in properties within the state of Florida, Osceola county, specifically.  Is there a source for the forms you use for real estate transactions or did you generate your own as you needed them and run them past your attorney?  I have several generic templates and misc. forms but they all need to be reviewed by my attorney.  Just wondering if there's a trusted source out there I can use to get forms to operate in my area.

  I don't have a particular "niche" yet, I'm just getting started.  I'd like to share a little nugget of wisdom I picked up, so as not to get without giving:

Don't focus on the property, focus on the person.  For example, if you are too caught up on the aspects of the property and how much you can make from the deal you may be overlooking the most important aspect of the deal, the seller!  Take the time to talk to the seller and find out what their motivation for selling is and how motivated they are to sell.  Even if the property could be a "home run" this means nothing if the seller isn't motivated to sell it to you.  Who has time to waste trying to convince an un-motivated seller to sell?

Thanks

Thanks! I'm looking forward to learning from those in the field.

Hi Jaren!  Thanks!  I checked out #1 and #3, I'll take a look at the second one soon.

Hi Dean! Thanks for the welcome and also for the information on the REI meetings. I'll catch the next one. Is there an entry fee or anything like that? That's not too far from where I live.

Thanks!