All Forum Posts by: Mechelle Detres

@jaremy 

@Jaremy Moritz , I know this post is years old.   but I am looking to work on my first deal and to protect myself legally I am choosing to use the 17 page Purchase Contract for Residental Property courtesy of the Colorado Division of Real Estate.  On line 2.2 it says No assignability  unless otherwise specified in Additional Provisions which is Paragraph 30 of the contract that looks like this,  (The following additional provisions have not been approved by the Colorado Real Estate 735 Commission.)   In the blank space I should put:

- Seller understands that Buyer’s intention is to find an End-Buyer and assign this Option Agreement to that End-Buyer for a fee (paid by the End-Buyer).
- Seller understands that Buyer is acting as a principle in the transaction and is not working as a licensed real estate broker representing anyone in the transaction.
- Upon Buyer’s decision to exercise this option, both parties agree to move forward with the necessary standard purchase and sales agreement.
- Seller agrees to allow Buyer to put a sign in the yard, advertising the property for sale.
- If Buyer does not acquire an End-Buyer to assign this deal to within 35 days of acceptance of this Option Agreement, this agreement becomes null and void.
- All parties agree that property is being sold in “as is� condition unless noted otherwise.

I was also informed that there is a difference between wholesaling and assigning contracts , wholesaling is when you actually buy a property from a seller and then resell it ,  so that you are not tieing up the property.  and assigning  is when you assign a contract to an end buyer without purchasing the property.   The seller is aware that you have no intention of buying the property.  something about being completely transparent with the seller.  

@Jason Eberhardt   I am in the same boat.  I am trying to find a contractor to walk properties with me in pueblo.     I am also looking to partner up on projects with  other investors and split profits 50/50.  

Hi my name is Mechelle and I am a new resident of  Pueblo Colorado. I am looking to start investing and making connections.  I have been absorbing as much information as I can from Bigger Pockets and would love to start networking with anyone interested. I have already started working and  marketing.  I am interested in wholesaling "as-is" and flipped properties  , assignment,  property management and eventually acquiring rental properties .   Send a message and lets talk.   Thank for you time!

@Adam M.  Hoping to find and partner with experienced wholesalers to learn as much as I can about real estate investing in colorado, I am willing to negotiate a very attractive partnership agreement for the perfect partner and coach.

@Bill S.  Hello, Thank you for the info.  I looked up the purchase and sales contracts for residential properties on DORA.   It is a 17 page contract.   I was just wondering how intimidating and confusing  a contract like that would seem to a potential motivated seller that needs to get out of a bad situation as opposed to presenting them a 3 page contract.    I wonder if something like that could scare potential sellers away from a wholesaler. 

@jason farmer 

@Jason Farmer Hi, Jason would really like to know more on how you setup your partnesrship. I am looking to do the same, find someone I can partner with in the same way you set up your partnership. My strengths is not in acquisition and I would probably not want to deal directly with the seller. Did you use a JV agreement with your partner, if so can you tell me what were the terms or provide a sample copy. thanks so much.

Hi ,

@Brent Hillundefined  can you please email me a copy  of your partnership agreements.

Thanks

Did you find a partnership agreement?  I would be interested in one as well.