All Forum Posts by: Ben Roberts

Thanks @Douglas Skipworth!  I will most certainly keep you posted.  I don't have a closing attorney just yet.  Can you ( or anybody else ) recommend someone in the Memphis area who handles these type of wholesale deals? 

So I found a motivated seller in the Memphis area.  3/2 in a fair neighborhood, a lot of rentals.  We've largely agreed on a price and I'm going to meet with him this weekend, take some pictures, maybe video, assess repair costs, and sign a contract.  I intend to assign the contract to someone else (though I don't know who, yet).  So I've got some questions about my next step...

Can I use a generic real estate sales agreement or do I need something specific in order to assign it to someone else?

Once the seller and I have signed a contract, do I need to do anything with it or can I just start searching for a buyer?

I assume that there is some other assignment agreement that I will need once I find a buyer. There is a generic one that I got from BiggerPockets (here) , is that all I need?

Any advice, tips, tricks, or assistance you can provide would be greatly appreciated.

Thanks

Ben

Welcome!

If you need boots on the ground in Memphis, please let me know. Odd jobs, checking out property, meeting clients face to face, whatever, I am at your service. I just got back from a home / checking out the neighborhood for another investor.

If you need boots on the ground in Memphis, please let me know. Odd jobs, checking out property, meeting clients face to face, whatever, I am at your service! I'm actually running to look at a home and checkout the neighborhood for another investor this afternoon.

Jamie Doman I was born and raised in Memphis and I'm just getting started in Real Estate. If you'd like some boots in the ground, local, familiar with the area, willing to checkout property, talk to folks face to face, take pics or video, market for you, or whatever you can think of, please let me know how I can help.

@Graham McBain and @Lisa B., 

I started blogging on BP a couple of days ago.  Personally, I'm terribly afraid of making mistakes but I learn SO much from each one.  I decided to start writing about my experiences not from a "This is what I did and how it worked out" perspective but from a "This is what I screwed up and l what I learned from it" perspective.  My guess is that I'm not the only introvert looking to get started in this business.

There are a TON of great ideas on this post and I've already started looking at / implementing a few of them.  Being on a limited budget, I'm trying to be as frugal and efficient as possible.  I plan to track the outcome of each idea then write a post about it. Wether or not it worked, what I did, what I should have done / not done, and what I learned from it, trying to be a specific and detailed as possible.  

I don't  know if it'll help anybody else but I think the perspective that I take will force me to take an honest look at my business and make proper adjustments as I go.  I can't wait to look back 5 or 10 years from now and read about some of my early mistakes and successes.

Thanks @Peter Crisp for the suggestion.  I've looked at the duplex / triplex idea a few times but I don't think my family would be too happy with that setup.  It would have been different 5-10 years ago but I cant get away with it right now.  And, there are few duplexes available, especially in the part of town we're shooting for with a personal residence.  I wouldn't be opposed to a duplex for my first buy and hold but I need to get there, first.

@Julie Clark, @Austin Hughes, @Account Closed Thank you all SO much!  These were exactly the kind of answers I was looking for!

Thanks @Michael Boyer