All Forum Posts by: Jonathan Rexford

If you have an option to purchase for 80K then your purchase price on an option is for 80K. If you intend to assign the option for $5K then you put 5K in the assignment of contract. Because that is what you are selling. You are selling the contract. Not the property.

Personally I only use it with my son, and wife and a few other friends. But with that said. I know two people that use it for TEXTING FRBO and FSBO. They claim to get calls back. I guess it is something small like. Hi, I am texting you about the home on craigslist. Please Call back at 123-123-1234

Jon gave you good advice on getting a lawyer. On top of that consider holding the benificial interest in an LLC.

Dan,

Not sure if this will help or not, but it helped me when we were starting our Construction Company about 15 years ago.

I had wrote a letter to each real estate broker in town about FORMING a "Strategic Alliance" that letter opened more doors for me than all the phone calls, post cards than it every had.

If you sit down with a piece of paper and write PROS and CONS why someone needs to do business with you, then go ahead and craft your letter.

You will need to do this TWICE. One from your company view and the other from the BROKER'S VIEW. Then take a look at the list and see how to write the letter from the broker's point of view.

I am getting back in the habit of doing this myself. It is hard and it is not easy to just sit down and whack it out.

When I did this for the construction company we had all kinds of work come our way.

HTH

Another way is to get Pre Notice Defaults. You can get this information from a provider that sells 30/60/90 day lates. The issue is that sometimes you need to order a list of at least 5,000 names.

I have done several homes sub2. Never had the question come up. But if you are worried about it you could give the seller an option to buy the home back under an agreement if something should happen. Pretty easy to set up.

A land trust would also work in this situation. Where you could give the seller a conditional assignment of the property or if there is any additional seller debt you could a collateral assignment of benifical interest.

Using a trustee and have written instructions to take care of things just in case. Now if something should happen to you, your estate can manage the property and dispose of it as needed.

Bill,
I missed the last couple Miller seminars. I did go to Tilney's Management Class here in FL two months ago. I am pretty much staying home these days. Kid getting older, got two dogs. Kind of hard to leave the compound.

Hey Bill,
Not this year. With the kid getting older it is harder to get out these days. But maybe next year.

Hey Bill, It is good to hear from you. I totally forgot about that Dychess had a Land Trust course. Of course he does. Can't go wrong there.

Google Mark Warda and land Trust. He did a book a few years ago. I have it somewhere or else I would tell you the title. If you want a good book and tape course and want to shell out a few bucks then I would recommend Lou Brown's Trust Course. I have it. Been using it for years. Just make sure the documents meet your state requirements. Such as does your state have Trust Statues....etc