All Forum Posts by: Matthew J. T.

Thanks J.Scott. As far as the information I presented, I'm not sure why one sold for 95k, and the other 220+k this is exact market comps off of the MLS , see for yourself.

http://imageshack.us/f/810/4535m.jpg/

I ran comps using a local MLS website in the area, and my question is: Is the ARV based on the highest price in the area, or average price ? I'm pretty sure it's average, but just wanted to make sure. All the newly listed ones are shown at prices ranging from 150k - 170k in the area that is 3bed to bath. So I wanted to get the most accurate figures.

example:

Highest - 223k
Average- 152k
Lowest - 95k

Thanks.

Hey all, I appreciate the answers, I checked around, and found an attorney appoint for this Wednesday, for not a lot of money, better safe than sorry, Thanks guys.

I don't get whose going to be sueing who for using a contract? And are there any stories of people getting sued for not having the exact contract that complies with your state laws? I would like to see. The fact is, a contract asks for simple things it complies with, and most of them look EXACTLY the same in other parts of the nation why is that? They are short on point, they all ask the same general questions, and all the different 1 page purchase all have the same formula.

I don't see any wholesalers using any "unique" contract that goes by the state or realtor ever. The fact is, I have to wait 4-5 weeks to see an attorney for about 350$, I don't got that kind of time here, I got motivated sellers already wanting to get deals done, what am I supposed to say? I would like to get the ball rolling ASAP! Even if it is just one deal, I mean from a scale 1-10 how riskie is it just doing it for even a couple of deals to start?? I found another wholesaler who does deals around where I live, and she said she never verified them, but she says she's done some deals already no problem, so I don't see why not?.

This guy talks about it here :

http://www.youtube.com/watch?v=rKvakfLHorU&feature=channel_video_title

Those contracts on uslegalforms.com are 8 pages long, seriously. I don't believe wholesalers use all that mumbo jumbo. I have a one page contract that is on point, that I got online from a wholesaling coach. As long as it asks the same particular questions, I don't see a problem? I have never heard of anybody getting sued from the contract being not according to the state? I googled around, and no answers on the risks if you don't use the states actual contract. I looked at contracts you can purchase, but they are 8 pages long.. Ha.. good luck explaining that to your seller. I don't understand why a simple contract that is on point, should be looked at by an attorney first, if it's the same contract, I've seen other wholesalers use from around the country?

If I were to get a apartment building under contract, what contract would I use? Would I use the same purchase and sale agreement I have for buying homes, or is this a completely different form?

Thanks.

Thanks guys, appreciate your input.

ok, I need to know is this a must to go to an attorney office and have them look at your contracts in order to start wholesaling? I have an assigmnent contract, and purchase contract, and they are what other wholesalers are using online, so I saved them. But is it an absolute MUST to go to an attorney to verify them first? I called some and they are all booked for the next 3-4 weeks, I dont really want to wait around for that long just for them to look for 1-2 minutes. One lady even told me 200$ for a visit! That's crazy.... What are some other alternatives? I suppose I can ask other wholesaler if they can let me use the contracts they use?.. I don't know.. Help?

In my opinion it is probably smarter to negotiate over the phone, before actually driving to the property and trying to get a deal. Because think about it,imagine all that driving back in fourth for a deal that you aren't even sure will fall through? Save time and money. Watch this video : http://youtu.be/fN0blJ2LARA

Good find get it under contract and double close it ASAP.