All Forum Posts by: Jonathan Rexford

www.listsource.com is where I get mine.

I would have to agree with Alex here. I use to have all sorts of list. OO, NOO, Probate, BK Kick outs, Foreclosure.

When it all came down to it. My OO and NOO came down to how much equity they have. So I do one mailing all to the same list. I named it Equity. Just like Alex is describing

Yes. Make an offer for you to get 10K.

I say get licensed. I don't see a disadvantage at all. Sure you have to disclose. Big deal. I even disclose that I am an investor buying a home under market value.

Seeing that over here also. I also think there is a ploy when listing. With mutiple bids coming in on properties and some REO agents getting properties 45 days before they are listed they shop it around to investor friends and also retail buyers. Just this last week I had two where we were in a multi bid state over list price. 2 were cash buyers. I missed the bid as they went higher than I was willing to pay.

Hey if it works then great. I just prefer to use options. If it is a deal I am taking down then I do use a PSA. But if its a deal that I am iffy on that I want to shop around then Option them.

Andrew,
I am sure you know the difference of Exclusive and Non Exclusive. If you work with Non Exclusive Option agreements then the seller can shop it around. But the best way to work is to get an exclusive and to get the seller to sign a Memrandum of Option. Which I use with my Short Sales. It is the same type of agreement.

A Purchase and Sale agreement is also good to use. It really boils down to intent and the strength of the deal itself.

I agree that this can be done with minimal paperwork like you had mentioned. I like options. Been using them for years. Learned them from a guy on your side of the state known as Jack Miller.

Jeff,

I think it will. If a seller is willing to give you a deed to a home. An option is much less of a problem to get over that hurdle.

I have optioned properties to buy on a lease option. Not the lease option agreement itself. Just the option to buy on a lease option and then I have sold my terms that way.

But it seems it is less risk for a BUYER (us) using an option.

I guess if I was ever to approach any transcation such as flipping a sub2 I would do it with an option. that way it is truly transparent between Assignor, Assignee and the seller.

I know you have seen all the CYA documents. I more or less call it FOUL LANGUAGE..probably a misuse of the word.

Well I am glad for you that you have not been in court in 4 years. Hopefully you never will.

Most of the court actions I have been involved in have been small claims and to me it is all based on the law of equity. Some judges will see the case as it is and some don't.

I am not saying that I would never do a sub2 flip but I would be sure I had the seller sign off on it and maybe even have the closing recorded.....just parinoid.

I see you are in Florida. I am in Vero Beach on the other side of you.

Well it has been an entertaining and thoughtful thread for sure.