All Forum Posts by: Christopher Thomas

Thanks guys! I will have to check out the podcast!

@Jon Deavers lol I'm not too far from the factory...a York landmark :)

Thanks for the advice James. I will check out the website and see if you have to be a member of the board of Realtors to access or not. Good point about networking. If I have a real deal and real connections, I guess how it's structured is just minor details?

Sam,

Thanks for the reply and your words of wisdom. Maybe finding an "investor friendly attorney" is a great start. I definitely want to follow the letter of the law, yet I don't want my current situation to prevent me from really jumping into this thing full throttle!

Brandon,

Thanks for welcoming me and for the tip about keywords! I will do this now.

I've started in wholesaling because I truly have no money or credit. I live paycheck to paycheck and even coming up with a $20 earnest money deposit could potentially be difficult!

For this reason I have many questions. However, here are my most pressing...

1. Can you write up an agreement of sale with no earnest money? Or can you write up an agreement of sale specifying that your end buyer will furnish the deposit? If so, how does a title company look at this? Should you be up front with your end buyer about this? What happens if the property isn't assigned within the time frame specified in the contract? Is it just null and void and you and seller walk away?

2. Is there a generic agreement of sale and assignment form I can get my hands on? Preferably something that I can use in any state(I've recently read Larry Goins book about remote investing) Obviously hiring a lawyer at $200/hr isn't in my budget! :)

3. Someone told me that I should send a none binding letter of intent to the seller that spells out the terms(ie I have no money, but want to assign your property to an end buyer, etc., etc.) before getting it under contract. Does having an executed LOI mean you have the property under contract-meaning can I find my end buyer at this point?

Thank you everyone in advance!

Thanks Ramon! I actually read the free beginners course today.

Technically I created my account months ago, however, I finally finished uploading my pic, etc.. Serious about really giving this investing thing a focused try! Here's to many deals in the future!