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John, I'm guessing you are looking at protecting your contract, and in that case "recording" it with a title company will do little unless another investor is closing with the same title company. Recording it in the public records might do something, but I wouldn't worry about that too much. I would stay in contact with your seller. They will give you the best feedback on what's going on. When you have a seller getting cold feet, then its time to start thinking about what's going on and what to do about it. Usually reminding a seller that they signed a legally binding contract will promote them to follow through.

Correct - I read this somewhere, and I think it was mainly done to protecting yourself from having buyers go around you.

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Ryan, as a wholesaler would you do you recommend that I record purchase contracts by submitting them to my title company?

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Hi BP members - I've been lurking here and decided to de-lurk and introduce myself.

My name is John and I'm an REI noob - I own a home, but that's the extent of my past experience. I became interested in RE a couple of months ago and started educating myself, and I've fleshed out a preliminary plan.

I'm in Southern CA right now, but I will most likely be moving back East/South in the next 2-3 years (WV, OH, KY and NC/SC are possibilities at this time), so holding property long-term in this area doesn't make sense right now. That being the case, I'm going to start by wholesaling.

I've checked out the local REIAs and will attend a few before I join (I've heard horror stories about some, so I want to make sure they're clubs that fit my needs) and network as much as possible, build up a buyers' list while I'm looking for deals - I've probably looked at 65 houses and can pretty much tell you what homes go for in a particular area when I hear or see the address.

Once I move, I can look at buying properties to rehab and/or hold. Obviously, the prices will be much lower (relative to CA) when I relocate.

Ideally, I'd like to connect with a successful investor in my area and see about setting up an arrangement where I offer my services as a bird-dog in exchange for a step-by-step education in the process.

I don't plan on quitting my 'day job' right away, but I don't mind putting in long hours.

Sorry for the long-winded intro - any suggestions?

Thanks in advance, and thanks to everyone who contributes here. This is an invaluable resource for aspiring investors.

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All Forum Posts by: N/A N/A

N/A N/A has started 6 posts and replied 24 times.

Post: Hi from Southern CA

Post: Questions about how to handle wholesale properties

Post: Questions about how to handle wholesale properties

Post: Hi from Southern CA