All Forum Posts by: Brian Gibbons

OMG we are talking about RE Contract Constructing to newbies!

Here is a primer, and your state laws have to be looked at.

http://en.wikipedia.org/wiki/Real_estate_contract

There is an inexpensive book on creating contracts w a CD Rom.

http://www.amazon.com/gp/offer-listing/1572485280/ref=tmm_pap_used_olp_sr?ie=UTF8&condition=used

I hope u find these useful!

That's just the point exactly, not enough financial planning knowledge in real estate.

And I spoke to John, taking a hiatus from BP for a while. :(

Well since I am an estate planner first licensed 20 years ago I missed it. Good answer Bill Gulley

A basic Real Estate Contract class would be nice on Bigger Pockets.

Instead of techniques that are in vogue.

You have to be careful with lease options, seller financing, and mobile homes.

This is a good read on lease options, the safe act, and moblile homes.

http://www.mobilehome.com/portal/stories.php3?nid=9241

This is what I do.

I look at www.Neighborhoodscout.com

I look for the best school districts.

Then I look for houses that have little equity and offer to buy their house at full price on terms (lease purchase).

The business model is lease purchase a quality home in a great location, and then assign the deal for a 3% fee.

The ideal house is one that was purchased at the top of the market (2006-2009) with little equity, so selling with an agent is not that attractive.

Mark Casali I wish you the best of luck!

Brian

Need Heart Strings For REI....

Go down to your local Boys - Girls club.

See the director.

Tell them you are a local RE investment company and are trying to raise money for the Boys- Girls Club.

You are giving 10% of GROSS PROFITS to the club as a fund raising program.

Now get a picture in front of the Boys Club - Get the logo in the picture.

And get a letter from the director thanking you.

Take that letter and picture and go to all the pizza delivery shops, try to get them to GLUE a flyer "WE BUY OR LEASE HOUSES" 8 1/2 by 11.

Tell them every person that calls and sells their house to you, you will donate $500 to the boys club FROM BOTH YOU AND THEM.

And Do That, scan the check, call the press, show them the checks.

Rinse and repeat.

Hi Morris Lucas

No Equity or Under 10% is a Sub2 deal or a Lease Option Assignment - Sandwich Deal or a Contract for Deed

Underwater or Less than 0% is usually a Short Sale, could be a Lease Option Assignment for the right circumstances - perfect house, long term lease option, say 5 - 10 years.

OMG, that ***$%^& let his brother go CH 7 bankrupt?

As Curt Smith said, door knocking works!

I hit listed sellers and expired listing, door knock and say I will lease purchase their home at retail.

Here is a letter of intent I use to do that.

http://www.biggerpockets.com/files/user/REISkills/file/letter-of-intent-lease-option-assignment

Mike Hoefling

Hey welcome! I am from Arlington Ma., live in California now.

My advice, have the renter fill out a 1003 mortg qual and get them to a licensed mortg broker.

http://www.biggerpockets.com/files/user/REISkills

See the Mortg App there.

Lease Purchase is a maybe end result to low income renters. If you really want to get it sold, have a before picture for that renter re mortg financing.

Have the renter fill out the app and see a licensed mortg broker.

And..... Go Sox and Pats!