Help! North Carolina Wholesale Contracts/Understanding Rehab Cost

[Willie Morgan]

Hello everyone,

I am on the move! I have built a buyers list of about 15 cash buyers! I am really excited. I understand that Purchase/Sell Contracts and Assignment Contracts are different depending on the state.  The Purchase/Sell contract I found online is very confusing and I am not sure how to insert the the clause to make it assignable.  Does anyone have any contracts that are work for NC? Does anyone know of any investor friendly real estate closing attorneys in Raleigh, NC. 

I also have a question about Rehab cost.  The formula I use requires a rehab cost amount in order to effectively analyze the deal and make a fair offer.  Can someone please help me with this.  I realize that some rehab costs are generally based on personal preference.  I also realize that there are some repairs that must take place in order for the property to be up to code.  Please help! My email is blowing up with motivated cash buyers.  Time to fill my sellers bucket. Thanks everyone!

[Jared Rogers]

@Willie Morgan On the contract just go with the standard NC contract...where you enter you as the buyer add language like - Willie Morgan and/or assigns

On the estimating rehab check the resources section on this website for @J Scott The Book on Estimating Rehab Costs.  It is well worth it.  Also the costs used here are based upon Atlanta pricing which I have found is somewhat linear to NC.  Some things like concrete work however are much more expensive in your area compared to Charlotte and the Triad.