All Forum Posts by: Kathryn Bowden

I too am wondering about this.  Because if Jerry Sexton didn't have his own remodeling business, he would instead be managing a contractor who does and/or putting some of his own sweat equity into the place.  I would think he's bringing some added advantages to the table with his remodeling company, with costs, and having total control over the process.  But seems maybe it would make more sense to also split the profit on the remodel, or simply discount that profit to maybe half of what he usually charges, so it's perhaps less of a conflict of interest in a sense.  I am wondering some of these same questions - as our next flip, we will be using private friend money, and I'm wondering what might the split be for us doing all the labor in the rehab ourselves, vs. hiring somebody to do it, which would then be a cost that comes off the top.

Yes, makes total sense.  Turned out, Brian drove over, while I worked out the agreement with her over the phone.  I then emailed it to Staples and they printed it out, which is where the two of them met.  We have our signed agreement and are officially in escrow as of today!  :-)  So happy to have our next project, and first project in our new "official" capacity as more-less full time investors.  So we are off to a good start.  And I hope it's a good sign of things to come.

Here is a rookie question for you. I've only purchased a couple of FSBO properties in my past, and it's been a while. I have a property I'm ready to make a cash offer on, that will be a flip property for us. The owner lives five hours from us. I'd like to get this locked in quickly, as we think it's a good deal. How best would you suggest we get get an agreement to her to sign. Something like DocuSign? Overnight mail with return mailer? Is there something our title company can help us with? Also, the best place to get such an agreement template? Or would you just drive over? :-) I plan to be agreed with her on price and terms over the phone. Thanks in advance for your pointers! -Kathryn