All Forum Posts by: Fremy Rosso

Hey Bimal, were you able to find this document? I am currently starting to use Land Trust for REO’s. Currently I am trying to find a land trust agreement & also assignment of the beneficial interest document that specifies how much it is being assigned for..

Originally posted by @Bimal Doshi:

Hi Wayne,

The banks have made it difficult for a Wholesaler to assign properties with the deed restrictions and assignment clauses but using a Land Trust totally eliminates these restrictions allowing the Wholesaler to profit on EVERY real estate deal.

But you provided the correct answer and I am satisfied. A separate agreement to transfer the beneficial interest for which you charge you fees, of course this will not go on HUD.

I need another agreement available and safe to use for wholesalers in New Jersey. I've heard making the EMD due upon completion of inspection, but does this mean I have to give it upon inspection period completion no matter if the deal goes through or not or if the inspection period was successful or not?

I’m looking for something simple that I can use in New Jersey that protects wholesalers. Need help with an agreement here!

@robert deforge I understand your situation, if I were to be in that same position honestly I would keep working for more capital, something like wholesaling houses or even flipping them with the 40k and getting a lender involved or even a mortgage company and creating a bit more capital, ultimately to get into multi-family apartment buildings... all you need is about 25% of your total pp. for a 1 million dollar property your looking at about 250k to purchase and a bit of commercial knowledge you can do very well, you can also get a lender and make him a partner in the deal as well to lower the capital needed upfront all with just a solid deal for the lender... start networking! keep us posted hope everything works out!

hey I'm actually wondering, i just spoke to an investor and we have agreed to work together, i would find hime the properties and get paid a flat fee per property, how would the contract between me and him work? how would i know when he closes a deal, I'm doing this virtually so I'm not present in that county. i am helping him out just want to know if theres any type of software i have to use just so well be on the same page or how would i know he's not screwing me over, would we just verbally agree to something and he pays me or?? how would this work. Im a wholesaler but i am birddogging for a specific investor with certain types of properties and its something I want to learn so i decided to birddog for him. 

Hey john , I'm just wholesaling the property. And yes , I am . I just tell them that I have buyers that will be interested in purchasing the property.

Thanks AJ I SERIOUSLY appreciated. Very helpful.

I am close to having my first house under contract and I've tried to come up with my 2 contracts ; seller to me; me to assignee, I'm having a hard time choosing/making a contract that makes it clear that after a certain time frame(inspection)it will be void, I'm afraid to getting stuck with a property or having anything happen unexpectedly because of some missing clauses. as well as stating in my assignment contract with assignee about having them give there deposit thru title company or directly to me, Im getting really lost with these contracts and I have an opportunity to get my first deal this week. HELP PLEASE! Don't really know how to get my hands on the 2 agreements that i can use with confidence