All Forum Posts by: M S

But my question is on the approach, say I dont have a title company, just start calling title companies then and asking for a list and saying if I get a deal ill use them? Or is it better to go in person and introduce myself to someone?

So Im still new to real estate investing and been looking at this short sale investing angle, i have been really focusing on wholesaling and working on my buyers list.If your using an Option contract and then negotiating the short sale price and then finding a buyer, with short sales taking so long to even find out if they are approved or not, what are you guys telling your buyers? Say I got a buyer in 30 days and I could still be 60 days out from getting short sale approval for the price, how do i work it out on the purchase contract for my buyer the unknown time for approval of the short sale?

Thanks for the replies guys, those are both great ideas especially reference the picture taking, this one property I was especially interested in has some broken windows etc the old tenants left when they moved out.

Hey Everyone,

I have started to build up my buyers list and have been working on working on my sellers list. In the process of building my lists, I have located several properties local that might be good pick ups but the owners are not local. I have obtained their out of area address's but I am horrible at writting letters and keep coming up blank when I sit down to come up with a good letter to write.
Any questions on what my letter should have or examples of letters that have worked for all you veterans out there?

Thanks in advance

thats a good add in, thanks... also saw some other goods ones some others have talked about in the forums, im going to add in to.

San Bernardino county especially has numerous properties coming up for sale in the 50 to 75k range that need paint and carpet mostly. Been looking out there to try and get a few picked up for the good cash flow potential.

How is a good way to go about finding a good out of state wholesaler when you dont have any connections out of state?

Im trying to get all my forms together, I found this Assignment Form online. Does this look like a good one to use? as in covers the things I need to have in my assignment contract? Thanks in advance! Appreciate the help everyone, I have no mentors I have found around here yet to help me with this stuff yet, so appreciate all the help and the patience.

ASSIGNMENT OF REAL ESTATE PURCHASE AND SALE AGREEMENT

THIS ASSIGNMENT is made this _____ day of __________, 20___ by __________
("Assignor") to __________ ("Assignee").

W I T N E S S E T H :

WHEREAS, Assignor has entered into a certain Real Estate Purchase and
Sale Agreement with __________ as "Seller" and Assignor as "Buyer" which
Agreement was executed on __________, by said Assignor and on __________,
by said Seller for the purchase and sale of certain real property being,
lying and situate in _____County, __________, and more particularly
described in said Agreement, copy of said Agreement being attached hereto
as Exhibit "A"; and,

WHEREAS, Assignor desires to assign, transfer, sell and convey to
Assignee all of Assignor's right, title and interest in, to and under
said Real Estate Purchase and Sale Agreement; and,

WHEREAS, Assignee is desirous of receiving all of Assignor's right, title
andinterest in, to and under said Real Estate Purchase and Sale
Agreement;

NOW, THEREFORE, for and in consideration of the sum of _________ Dollars
($___.00) and other good and valuable considerations, the receipt and
sufficiency ofwhich are hereby acknowledged, Assignor has assigned,
transferred, sold and conveyed and by these presents does hereby assign,
transfer, sell and convey unto Assignee all of Assignor's right, title
and interest in, to and under said Real Estate Purchase and Sale
Agreement. Assignee hereby assumes all of Assignor's duties and
obligations under said Real Estate Purchase and Sale Agreement. This
Assignment shall be binding upon Assignor and shall inure to the benefit
of Assignee and its successors, heirs and assigns.

IN WITNESS WHEREOF this Assignment has been signed, sealed and delivered
by Assignor and Assignee as of the day and year first above written.

Witnesses:

"Assignor" __________

"Assignee" __________

Thanks for the input guys. Been trying to find more, But it varies per state so much it seems.

Thanks for the replies from both sides everyone. So no matter what the appraisel comes thru as, fortress would only get 75 percent of that, even if that ment losing money on the deal?

Found this company while looking around online for something else, a company called fortress investment out of AZ, say they give you rented out properties for 7500 bucks and then you just have to refi it to get it in your name and they alledgely come with instant equity as well. Anyone ever delt with them? http://www.fortressinvestor.com/about.html says they own like 12million worth of property. perhaps they are just trying to unload their stock. If you can get it all for 7500, it almost sounds too good to be true, and we all know if it sounds to good to be true, it probably isnt. Thanks in advance.