All Forum Posts by: Chris T.

Would you care to enlighten us further on the concepts that you are referring to?

Or you could just email me a "Complimentary" Ebook if you want! :D

What do you recommend these "cash strapped" REI wannabies do with the leads once they get them?

Thanks guys.

Ok, I'll be the guy who asks.

What's the secret?

What are your money and no money methods?

Hello,

I have several clients looking for mobile homes with acreage in my area and there are several good deals that I've see lately, but I don't know where to send them to get pre-approved. My HUD Realtor told me that no one is lending on MH's. Are there any banks out there that lend on used mobile homes in great condition?

What are the typical terms, requirements, etc?

Thanks, Chris

Ok, well I know what a deed is but I thought you were saying a DMOC although I didn't know what a MOC was.

What do you use the POA for?
What do you do with the deed? I mean do you "get the deed" and record it as the new owner, do you hold on to it and sign it when you find a buyer?
(which would void any seasoning rules or requirements)

So basically you're telling them that you are going to buy their property, you have a year to close, and you have the right to market it (option), and the right to opt out.

What is a Deed and Memo of Contract?
How do you get them to agree to a 1 year closing?

Couldn't I just use a purchase agreement like an option contract by adding the following provisions?

Buyer has the right to market and the right of entry.

Buyer can cancel contract at anytime.

Seller has the right to market the property and the right to cancel the contract at anytime with a written notice and an executed purchase agreement with a new buyer.

Wow Charles, that's impressive!
I'm always thinking about how cool a program like this would be.

How about a program that collects data from the MLS?

I'm new to options but considering using them.

Let me know if this will work or not:

1.) Seller and Buyer sign an assignable P/C that has the contingency "Buyer may cancel this contract at any time."

2.) Seller and Buyer sign an Option agreement.

3.) If I assign the P/C or the Option then I assign the P/C using an assignment of contract. (Do not assign the option)

4.) If I do not find a buyer by the date of closing on P/C or Option period then I cancel the P/C contract and the Option contract becomes null/void.

I'm wanting to use this method so that the property will actually be locked up, seller can't back out, I have the ability to option and the P/C is already signed so I don't have to go back to have the seller sign the P/C. If the seller refused to sign the P/C after I found a buyer then there isn't really any recourse is there?

And here is another scenario to examine:

I do steps 1 and 2 above, then I allow one or more persons to sign an option with me. In other words I'm optioning an option. Then what do I do if they find a buyer? How do they get paid and how do I get paid? Would I just assign them the P/C, collect my fee, then they could assign the Option or P/C?

If this works then I'm going to submit every deal I put under contract to a national buyer such as the kind you would find by typing in "we buy houses" into Google and exponentially growing my buyers list.