All Forum Posts by: Brian Gibbons

What works the best are HANDWRITTEN signs, yellow with fat black marker.

Houses wanted -

WE BUY HOUSES

CASH OR TERMS

FAST OFFER 24 Hours

xxx-xxx-xxxx

Hi @Brian Stone, I use this...

Hi I'm Brian with Studio City Property Solutions, we solve problems, how may help you today?

Uh, what do you do?

Well fisrt of all I need to ask you some easy questions, ok? Whats your first name? TONY

Tony, I need your number of your cell in case we get cut of, is that ok?

Yeah, ok 707 444 5677707 444 5677

So you are trying to sell your property or trying to buy a property?

.....

Heres my property lead sheet,

http://www.biggerpockets.com/files/user/REISkills/file/seller-property-info-form

Good luck!

This is such a broad question, I put this video together, no links!

http://reiskills.evsuite.com/bp-paulwilson-lease-option-assignment/

Best to you Paul,

Brian

Read these books and you will fly!

http://www.kw.com/kw/shift.html

http://www.amazon.com/The-5-Essential-People-Skills/dp/B000FCH3SU

http://www.amazon.com/How-Win-Friends-Influence-People/dp/0671027034/ref=sr_1_1?s=books&ie=UTF8&qid=1396210440&sr=1-1&keywords=win+friends+and+influence+people

http://www.amazon.com/Mastering-Art-Selling-Real-Estate/dp/1591840406/ref=sr_1_1?ie=UTF8&qid=1396210496&sr=8-1&keywords=tom+hopkins+real+estate

You are in the people business, not real estate.

Ok lets look at an arrangement for a sub2 agreement on this forum.

Here's an agreement.

Let's have a discussion on how to properly do them and how to stay out of trouble with them.

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Standard Purchase And Sale Agreement

Parties ______________________________________ (BUYER) and ______________________________________ (SELLER), which terms may be singular or plural and will include the heirs successors, personal representatives and assigns of Seller and Buyer, hereby agree that Seller will sell and Buyer will buy the following property, upon the following terms and conditions if completed or marked. In any conflict of terms or conditions, that which is added will supersede that which is printed or marked. The Property is in ____________________________ County, and is described as follows (If lengthy, attach legal description):
______________________________________________________________________________________________________________________________________________________________________________________________________________

Address: _____________________________________________________________ Zip: ________________

It is understood that the Property will be conveyed by General Warranty Deed (unless otherwise required) subject to taxes, existing zoning (unless otherwise specified in paragraph 16), covenants, restrictions and easements of record.

1. Total Purchase Price to be paid by Buyer is payable as follows:
A. Binder deposit which will remain as a binder until closing, unless sooner forfeited or retained,
according to the provisions in this Agreement. $________________
B. Additional binder deposit due within ______ days after acceptance. $________________
C. Balance due at closing (not including Buyer's closing cost, prepaid items or prorations) in
U.S. cash or locally drawn certified or cashiers check. approximately.____ exactly ____ $________________
D. Proceeds of a new loan to be executed by Buyer to any lender other than Seller. $________________
E. Purchase money loan to Seller on terms set forth in Paragraph 2B. $________________
F. Other financing $________________
G. Existing mortgage balance encumbering the property to be [ ] paid off, [ ] taken "subject to",
by Buyer (approximately). $________________
H. Net amount paid to Seller in addition to paragraph 1G. $________________
I. Total Purchase Price approximately ____ exactly ____ $________________


2. Financing: If buyer does not obtain the required financing but otherwise complies with the terms hereof the binder deposit less sales and loan processing costs incurred, will be returned to the Buyer.
A. [ ] Application: The application for the mortgage described in paragraph 1D will be made with lender selected by [ ] Seller or [ ] Buyer. Unless such mortgage loan is approved without continued contingencies other than those elsewhere covered in this agreement within ______ days of the date of acceptance of this agreement, Seller and Buyer will have the right to terminate this agreement, and Buyer will return to Seller all the title evidence and surveys received from Seller. Buyer will make application for financing within ______ days of the date of acceptance of this agreement and in a timely manner furnish any and all credit, employment, financial and other information required by the lender. In the event the original loan application is denied, Buyer, if requested by Seller, will reapply within ______ days of such request at an alternate institution.
B. [ ] Seller: The balance due to Seller will be evidenced by a negotiable promissory note of Borrower, secured by a valid purchase money _______ mortgage or Trust Deed on the Property and delivered by Buyer to Seller dated the date of closing bearing annual interest rate of_______ % and payable$_________ per__________ for [ ] ________ years [ ] _________ months. Privilege of prepayment [ ] does apply [ ] does not apply. The loan will be ____ due on sale ____ not due on sale of Property.

3. Buyer's Closing Costs:
[ ] Recording fees [ ] Note stamps [ ] Intangible tax [ ] Credit reports [ ] Loan transfer and assumption charges [ ] VA funding fee [ ] Loan origination fee [ ] Loan insurance premium [ ] Loan discount not to exceed______ [ ] Transfer Tax [ ] Wood Destroying Organism Report
[ ] Appraisal [ ] Survey [ ] Title Insurance Policy _____________
[ ] All Normal Closing Costs
[ ] Other_______________________________________________

4. Seller's Closing Costs:
A. [ ] Transfer tax [ ] ____________ Title insurance policy [ ] ____________ Attorney's fee [ ] Real estate brokerage fee [ ] Loan discount not to exceed _________ [ ] Satisfaction and recording fee [ ] Repairs or replacements, addition to those in paragraph 9, not to exceed $____________ [ ] Wood destroying organism report [ ] Appraisal fee [ ] Survey
[ ] All Normal Closing Costs
[ ] Other_______________________________________________
B. All other charges required by lender which Buyer is prohibited from paying by law or regulation.
C. All mortgage payments or condominium and association fees will be current at Seller's expense at the time of closing.

5. Payment of Expenses: If Buyer fails to perform, all loan and sale processing and closing costs incurred, whether the same were to be paid by Seller or Buyer will be the responsibility of the Buyer, with costs deducted from binder deposit. If Seller fails to perform, all loan, sales processing and closing costs incurred whether same were to be paid by Seller or Buyer will be the responsibility of Seller, and Buyer will be entitled to the return of the Binder deposit. This will include, but not be limited to the transaction not being closed because Seller is unable to complete the transaction for a qualified Buyer, or because the property does not appraise for an amount sufficient to enable the lender to make the required loan, or because Seller elects not to pay for the excess amount in paragraphs 4 (with respect to repairs), 9, or 11, or because the zoning is not as required in paragraph 16 or because Seller cannot deliver marketable title.

6. Prorations: All taxes, rentals, condominium or association fees, prepaid hazard insurance premiums (if assumed), monthly mortgage insurance premiums and interest on loans will be prorated as of the date of closing.

7. Title Evidence: Within _____days [ ] after acceptance [ ] after date of satisfaction of all conditions in paragraph 19. Seller will deliver to Buyer or closing attorney [ ] Title insurance commitment for an owner's policy in the amount of the purchase price. Any expense of curing title including but not limited to legal fees, discharge of liens and recording fees will be paid by Seller

8. Survey: Within ______days [ ] after date of acceptance [ ] after date of satisfaction of all conditions on paragraph 19, Seller will deliver to Buyer or closing attorney [ ] A new staked survey dated within 3 months of closing showing all improvements now existing thereon and certified to Buyer, lender and the title insurer
[ ] A copy of a previously made survey of the Property showing all improvements now existing thereon.
[ ] No survey is required.

9. Wood destroying Organism Report: "Wood Destroying Organism" means any arthropod or plant life which damages a structure. Buyer may have property inspected by a Certified Pest Control Firm to determine whether there is any visible active wood destroying organism infestation or visible existing structural damage from wood destroying organisms to the improvements. If Buyer is informed of either or both of the foregoing, Seller will have seven (7)days from receipt of written notice thereof within which to have all such wood destroying organism damages whether visible or not inspected and estimated by a licensed building or general contractor. Seller will pay costs of treatment and repairs of all structural damage up to one percent (1%) of the purchase price. If such costs exceed the amount agreed to be paid by Seller and Seller declines to treat and repair, Buyer will have the option of (a) terminating this Agreement or, (b) proceeding with the transaction, in which event Seller will bear costs equal to one percent (1%) of the purchase price.

10. Title Examination and Time for Closing: A. If title evidence and survey, as specified above, show Seller is vested with a marketable title, subject to the usual exceptions contained in title insurance commitments (such as exceptions for survey, current taxes, zoning ordinances, covenants, restrictions and easements of record), the transaction will be closed and the deed and other closing papers delivered on or before [ ] ____________________ [ ] ________ days after the date of acceptance, or [ ] ______________ days after date of satisfaction of all conditions in paragraph 19 unless extended by other conditions of this Agreement or this agreement is cancelled by the Buyer.
B. If title evidence or survey reveal any defects which render the title unmarketable, Buyer will have 7 days from receipt of title commitment and survey to notify Seller of such title defects and Seller agrees to use reasonable diligence to cure such defects at Seller's expense and will have 30 days to do so, in which event this transaction will be closed within 10 days after delivery to Buyer of evidence that such defects have been cured. Seller agrees to pay for and discharge all due or delinquent taxes, liens and other encumbrances, unless otherwise agreed. If Seller is unable to convey to Buyer a marketable title, Buyer will have the right to terminate this agreement at the same time returning to Seller all title evidence and surveys received from Seller, or Buyer will have the right to accept such title as Seller may be able to convey and to close this transaction upon the terms stated herein, which election will he exercised within 10 days from notice of Seller's inability to cure.

11. Loss or Damage: If the property is damaged by fire or other casualty prior to closing, and cost of restoration does not exceed 3% of the assessed valuation of the improvements located on the Property, cost of restoration will he an obligation of the Seller and closing will proceed pursuant to the terms of this is Agreement with cost thereof escrowing at closing. In the event cost of restoration exceeds 3% of the assessed valuation of the improvements and the Seller declines to repair or restore, Buyer will have the option of either taking the Property as is, together with either the said 3% or any insurance proceeds payable by virtue of such loss or damage, or of canceling this Agreement.

12. Property Condition: Seller agrees to deliver the Property in its PRESENT AS IS CONDITION except as otherwise specified herein. Seller does hereby certify and represent that Seller has legal authority and capacity to convey the property with all improvements. Seller further certifies and represents that Seller knows of no latent defects to the property and knows of no facts materially affecting the value of the property except the following: (Description of problems) _______________________________________________________________________________________________________

Buyer has inspected the property and HAS NOT RELIED UPON ANY REPRESENTATIONS MADE BY ANY REAL ESTATE AGENT in describing the property, and Buyer accepts the property in its PRESENT AS IS CONDITION, except as otherwise specified herein.

13. Occupancy: [ ] Seller represents that there are no parties in occupancy other than Seller. Buyer will be given occupancy at closing unless otherwise specified herein. [ ] Buyer understands that property is available for rent or rented and the tenant may continue in possession following closing unless otherwise agreed in writing. Deposits will he transferred to Buyer at closing.

14. Personal Property: Included in the purchase price are all fixed equipment including stove, refrigerator, dishwasher, clothes washer and dryer, ceiling fans, drapery hardware, attached lighting fixtures, mailbox, fence, plants and shrubbery as now installed on the property. And these additional items ________________________________________________________Items specifically excluded from

15. Default and Attorney's Fees: If Buyer defaults on this agreement, all deposits will be retained by the Seller as full settlement of any claim, where upon Buyer and Seller will be relieved of all obligations under this agreement. If Seller defaults under this Agreement, the Buyer may seek specific performance or elect to receive the return of the Buyers deposit(s) without thereby waving any action for damages resulting from Seller's breach. In connection with any litigation arising out of this Agreement, the prevailing party will he entitled to recover all costs including a reasonable attorney's fee.

16. Zoning and Restrictions: Unless the Property is zoned and can he legally used for ___________ use, or if there is notice of proposed zoning changes, deed or other restrictions that could prevent such use at time of closing, Buyer will have the right to terminate this Agreement. Buyer will have 10 days from acceptance to verify the existing zoning and current proposed changes, and deliver written notice of objections to Seller or be deemed to have waived objections under this paragraph.

17. Time For Acceptance: Seller shall indicate his/her acceptance of this Agreement by signing and delivering the same, or by telegraphing acceptance to Buyer or submitting agent before __________:01
[ ]AM [ ]PM Date _______________, after such time, this offer shall terminate.

18. Additional Terms And Conditions (lettered A, B, C, D, etc.) __________________________________________________
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

19. Timing: The timing of paragraphs 7, 8, 9, and 10(A) will become operable after satisfaction of paragraph 2, if applicable, and those additional conditions lettered in Paragraph 18.

20. Entire Agreement: There are no other agreements, promises or understandings between these panics except as specifically set forth herein. This legal and binding agreement will be construed under ___________ State Law, will not he recorded and if not understood, parties should seek competent legal advice.
TIME IS OF THE ESSENCE IN THIS AGREEMENT.


__________________________________ __________________________________ _______________
Buyer Buyer Date

__________________________________ __________________________________ _______________
Seller Seller Date


Receipt Of Deposit: [ ] Seller [ ] Agent, by the signature below, acknowledge receipt of $____________ in the form of [ ] Cash [ ] Check, as binder deposit, which is the amount mentioned in paragraph 1A of this Agreement.

__________________________________ _______________
Signed Date

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And heres Sub2 Addendum

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Addendum To Purchase And Sale Agreement
“Subject To”

This addendum is to the Purchase And Sale Agreement dated the _____ day of _______________, 20_____, by and between _________________________________ as Seller(s), herein referred to as “Seller”, and _________________________________ as Buyer(s), herein referred to as “Buyer”, regarding the property located at ____________________________________________________.

The parties hereto do hereby agree as follows:

1. That the closing shall be consummated by Seller transferring their interest and title to the subject property by quit claim deed into a revocable land trust naming ___________________________ as trustee of the ___________________________ family trust, with Seller as the sole beneficiary.

2. The Seller will then assign their interest in said trust to Buyer and will thereby relinquish all interest in the trust and in the subject property. Buyer will accept said transfer of beneficial interest subject to all existing mortgage(s) or Deed(s) of trust.

3. Seller hereby warrants that there are no other liens or mortgages against the stated property other than as herein stated:

(A):First mortgage for the approximate balance of $__________ payable to ______________________________. The monthly payments are currently for the amount of $__________ due by the _____ day of each month, after which there is a late charge of __________. Taxes and insurance [] are, [] are not, escrowed by lender.

(B):Real estate taxes for the year 20_____ for the approximate amount of $__________.

(C):Additional liens ___________________________________________________________

4. The above stated loan currently has a past due balance of $____________ ;

[] To be paid by Seller.

[] To be paid by Buyer at time of closing.

[] Buyer agrees to make up the back payments only upon resale of the property. No agreements or promises to do so prior to that time have been made. If Buyer is unable to resell the property, the payments will not be brought current and the property will most likely go into foreclosure, in which case, Seller agrees to hold Buyer harmless.

5. The regular monthly payments on the above stated loan shall be paid;

[] By buyer beginning the _____ day of _______________, 20_____.

[] By the assigns of Buyer only upon assignment.

6. Seller shall provide Buyer with all payment coupon booklets.

7. Seller is aware that the above stated loan contains a due on sale clause which means the lender can call the loan due upon the transfer of beneficial interest in trust, as Seller has agree to do in paragraph 2 hereunder. Seller agrees not to notify lender of such transfer and to hold Buyer harmless in the event lender calls the loan due and/or forecloses on the property for any reason.

8. Seller acknowledges that Buyer has no intentions of assuming said loan and no promises or agreements have been made that the stated loan will be assumed or paid off.

9. Seller understands that the above stated loan will remain in their name and on their credit, until paid off or assumed by a future buyer.

__________________________________________________________________

SellerDateBuyerDate

__________________________________________________________________

SellerDateBuyerDate

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***************See an Attorney in your State******************

What a great selfless idea!

When my mom was passing w cancer, my good friend said, "Brian, you cant be depressed and practice gratitude at the same time!"

See the movie "Patch Adams" w Robin Williams. Thatll set your heart and mind in the right direction.

I'm in LA, CA so houses are $800K to $1.5Mill in the friggin mid range. lol

Forbes has an article about technology in kitchens driving prices of kitchen remodels in the range of $50K to over $100K

http://www.forbes.com/sites/erincarlyle/2014/03/25/inside-the-kitchen-of-tomorrow-from-iphones-that-make-lattes-to-dining-outdoors/

Are you frigging kidding me? lol

Target audience is "good ole boy" CMT trailer honkey tonk? See

http://www.amog.com/entertainment/bill-engvall/

The link above is a comedian that made his mark with stupid people should wear signs so we dont listen to them.

Suzy Ormon has some good ideas but shes no business coach or REI.

A mixed approach to some bank debt and creativity (sub2, private mortgages, partnerships) to REI Wealth building should be the focus.

Is Steve Cook the coach you keep referring to? He is well known at BP. I dont think he would mind you "name dropping."