All Forum Posts by: Sean Moen

I did and received more emails than phone calls.  While I used postcards instead of yellow letters, I still thought the value was there.

My thinking was/is some people just don't like to talk on the phone and email can create a sense of distance or disconnect.  I'd much rather get a half-hearted email than no contact at all.

Personally won't be watering the front lawn all that much (again!) this year.  Will be on the lookout for free or low cost resources from my local water district.  There has been mumblings about a couple thousand dollars for xeriscaping; definitely interested in doing that.  Much more than that; isn't even going to have much of an impact.

Time for our agricultural industry to involve and in a major way.  I say lookout for the next big tech advancement in water usage for the Ag Industry to come in the next 24 months.  It's going to be a game changer.

There is no reason not to do both at the same time.  I would be looking now - particularly on BP - who are the people talking about the area you are looking to get into contract with.  Start posting and adding value to the same threads they are and take the seller phone calls as well.  Make sure to be upfront with the home owners, don't promise anything you can't control and wait for one to hit.  "If you're not failing, you're not trying" -Someone

@Jeremy Pace Well said and completely agree.

@Steve Vaughan I like that idea - especially since I already have something.  Might save a few bucks for a review and sign-off than creating.

Just trying to gauge how appropriate this path is and not try and re-invent the wheel at all.

Hey All,

I'm curious about forms.  Talked with an Attorney last night to gain some clarity and guidance on an option to purchase contract.  We ended up concluding that it'll cost between $200-$400 bucks to generate a specific contract for my scenario but really contains only a few minor modifications to a standard contract.

So it got me curious - where did you get your contract forms when bootstrapping?

Figured I'd throw this out there and see what response I get.

Spoke with an Attorney out of Portland yesterday (I was looking for advice on an Option to Purchase contract in OR) and explained these primary points within the contract:

- Agreed upon purchase price is stated by the contract

- Reasonable Earnest money deposit exchanges hands

- A deadline that, if not optioned by that date, would be utterly null & void with no-recourse available.

He said this is completely normal, if you don't record, expect to get swooped in on.

We progressed our converstion into Licensing in OR for REI. The distinction - in his eyes & understanding - between broker and investor under this Options Contract had to do marketing. If I was actively marketing on the public market - Craigslist, Zillow, eBay, etc - then that would require a brokers license. If I were cold-calling individuals (and I'll extended this to emailing our buyers list) then that would be considered Investor activity. The assignment part didn't matter in this scenario - the way you marketed the property did.

@Michael Quarles

Is you answer plain and simple or do I read between the lines?  Are you doing a double close so you are actually buying the property but hold time is minut?  Or are you buying said property regardless of how long your hold time is?

Re: marketing, I'm assuming by the context between you and K. Marie Poe - that you are marketing as soon as your purchase contract is signed?

I'm just trying to gain clarification.

@Bill Gulley

Thank you for the insight & pep talk.  I have absolutely ZERO interest in being an agent.  I want to be a raw land investor.  There are 3 tools that I need to have in my toolbox:

- Standard PSA (Easy one cuz it's your own capital)

- Walking Away

- Wholesaling the deal (which I will now call my Options Contract)

The Options contract is what I'm trying to navigate correctly.  The more input I keep getting, the clearer and clearer the picture becomes.

@Guy Gimenez Thanks for the info; I'm make sure to keep that in mind.

@K. Marie Poe (Can never do the intials!  lol)  I'll dig into and get an options contract.  My 1-page PSA has an assignment clause in it; but doesn't spell out the transaction like an options contract would.  I'll stop over overthinking it too.  I suppose these guys either want me to help them sell it or they don't.  I've been completely up front with them so it won't be too hard to explain how I plan on selling it.

@Lukeisha Carr

Love the suggestion and never thought about it that way.  I will have to do some micro testing to see if it'll work.  With land being lower, the % to wholesale land would be a bit higher (20% for $15k only nets $3k) but that might be exactly what works.  All about selling it!