All Forum Posts by: Jesse Nelson

I have a situation where the bank gave this woman 30 days for me to wholesale the home and find a cash buyer. The numbers don't look great as far as a flipper making a profit. We have a woman interested in doing a lease option to buy. She would then give us an assignment fee. My question is, would the bank allow someone to lease the home with the option to buy, or would they still foreclose? Thanks, Jesse

Awesome, thanks Ryan!

Thanks for the response. I would be wholesaling. I had planned on having an attorney help me with contracts, just wanted to make sure it was necessary before paying one. Thanks for your input and I will look at those forms. As for the earnest money, I guess I'm still confused. If I go to seller A and sign a purchase and sales agreement as the wholesaler. I have to give up earnest money within a certain amount of time. If there is no agent or broker involved, do I give that earnest money to the title company where the title is currently at (sellers), since I don't know who the buyer is or where how they close yet?

Hello all, I'm new to investing and want to get started. I'm curious on when I sign a purchase and sales agreement with the seller, do I give the earnest money to the sellers title company or the buyers title company? Also, what is the best way to make sure your contract is legal? Is using a lawyer the best way, or is that unnecessary? I just don't want to get caught up with bad contracts. I'm have the "flip mans" contract (he's from YouTube) that he uses, just unsure if I can use that. I'm located in Wisconsin, as I'm sure states have different laws. Thanks for the help in advance! Jesse