All Forum Posts by: James P.

Thanks Wayne,

You told me what I needed to hear.

James.

Hi everyone,

I need some advice please.Due to unforeseen circumstances I need to sell a property that I was rehabbing.The property will need cosmetic repairs to finish,but I will be selling as is.I contacted a Realtor that said he may be able to find cash buyers/investors to purchase this property from me.I'm great at fixing up houses but lousy at understanding legal documents or contracts.The Realtor handed me an Agreement to Assign Contract for Sale and Purchase.I took it to a Real Estate attorney and he left me a voice mail message saying that I do not need to sign the assignment agreement.This is where I am confused.How can I agree to sell to an investor without signing anything?

Any advice would be appreciated.I will not sign anything without an attorney working for me.

Thanks Jeff,
That's great advice.I'm open to any ideas that will get me on the right track to making money in real estate flipping.One must be flexible and find what fits.One question I have is when a flipper finds and buys a house and I fund the rehab and manage the project,do I recoup that cost(Labor & Materials)and then the profits are split? I'm a little confused on that part.I would think so since some projects can run in to big bucks on the rehab..
I've tried contacting a local real estate club in my area several times but have not received a return reply(email & phone)not sure what's up. I will keep trying.If anyone in South Carolina reads this,let me know.Thanks James

Thanks Will,
That sounds encouraging.I have the rehabbing part whipped,Just need to get my hands on the money,like so many others.The deals are here.Any ideas on how to connect with other BP members in my area?Start a new thread,maybe?As you can see I'm a newbie here,so I may ask some obvious things sometimes,but I plan on being a regular part of this community.
Lots of great articles to read,so I know I'm in the right place to learn.
Thanks to all for putting up with a newbie,we all start have to somewhere.
James

Hi everyone,
I have over 30 years experience in the home construction field.I have owned and operated a small remodeling business for the past 20 years.I own a home that is completely paid for,no mortgage.Wanting to get in to buying,rehabbing and selling homes,there's some good deals here in my state of South Carolina.My income for 2009 was not very good because of a health problem($10,000 range)had to live off of savings,2010 was a bit better($30,000 range).My health problem is over,and I'm back to work.Do I have a chance in heck to get a home equity loan in today's world to help me get started in real estate investing? Because of my unstable income? My credit score is 760+.Also looking for like minded people in the Charleston,SC area that are starting out,maybe we can help each other.
Thanks to all,James