All Forum Posts by: Denny Robert

This was an interesting question to me, so I googled it. This is what I found:

https://www.nolo.com/legal-encyclopedia/the-basics...

"What Happens if the Buyer Fails to Make the Land Contract Payments Due?

If the buyer defaults on the land contract, or fails to make the monthly payments to the seller as required, the seller can file a court action called land contract forfeiture. Forfeiture will result in the buyer “forfeiting,” or giving up, all money paid to the seller for the property pursuant to the land contract and the equitable title of the buyer will be extinguished. In other words, if the buyer fails to pay, the seller keeps all money received, plus the seller keeps the real estate.

The seller takes a risk selling by land contract because the seller does not receive the full purchase price at the time of sale, but a forfeiture right protects the seller from a buyer who fails to pay allowing the seller keep payments and a usually large down payment made by the buyer while retaining the property to offer for sale to someone else."

The special sales contract is the one agents use in St Louis usually for AS IS properties. @Katrina Stewart, I would recommend getting ahold of a simple purchase agreement that many wholesalers use if you don't intent to act as an agent on the deal. They are 1 page and way less intimidating than our Realtor contracts.

@Caitlin Lambert how is that new rental going now that you a week in?

Hi BP Members!

My wife and I are investors and I'm an agent in the St. Louis area. We are marketing for SFR and multifamily (2-30 unit) wholesale deals.

Are you interested in finding off market flip and rental properties? Contact me and I will add you to our buyers list.

Thank You,

Denny Robert

Keller Williams launched Keller Property Management in St Louis. I trust them because I trust Keller. Zero chance of fraud issues.

It was great to meet everyone tonight!

Dan Luigs at The Insurance Store will be able to get you a great policy. PM for contact info.

@Brentin Hess @Larry Higgins @Kyle Doney

How has your calling been going? Can you share your Calls > Contacts > Appointments > Deals numbers?

I have Mojo and Coles for my retail business, and would like to add wholesale lists as well.

I have been chatting with the VP of Mojo Dialer. Would you be interested in a contact?

Keller Williams Realty Chesterfiels hosts an investment club on the first Tuesday of each month based on the book Millionaire Real Estate Investor.

All are welcome!