All Forum Posts by: Nick Mainella

The out clause thing is making me nervous, because this is my first time drawing up a contract. 

Can someone maybe cut and paste an example of an out clause from a contract they use so I can be sure my contract is solid?  

Thanks for the replies.  I think you guys are right, this is what a wholesaler does so I should just try to get it under contract at the price I think I could make things work.  Thanks.

Hey Everyone,

So I have a lead from a friend who says the house next to them is for sale by owner.  What I gather from him is that it is a group of brothers and sisters that have inherited this house and it is free and clear.  I have an appointment to go see the house tomorrow and I have a couple of questions about how to proceed.

Another friend of mine (and the friend that gave me the lead) is a realtor and talked to them about listing the house.  They flat out refused and said they would only sell it by owner and didn't want to list it.  My question is this, I have a buyers list and I think some of the people on it may be interested in this property, I will know more once I see it.  Do you think I should explain to them that my intention is to shop this house around to cash buyers, who will pay my fee, and we can hopefully close quickly?  They seem to be motivated and the price they gave me over the phone is already pretty good without any negotiation, which will hopefully lower it.  

This may be a stupid question, but it seems unethical for me to offer them cash and tie up their property for 30-45 days without explaining my intentions.

Thoughts?

Nick

Thanks for all the welcomes.  Setting up my keyword notifications now.....

Thanks Shaun!  Will definitely be looking to get out and network as much as possible in the coming months.

Hello All,

My name is Nick, 30yrs old, brand new to real estate investing.  I'm currently studying to get my license and am feverishly studying investing at the same time.

I'm someone who doesn't have a lot of cash from the get go, so I am investigating methods to get started without a lot of cash up front.  I am willing to put as much work as needed into this business and am very excited to make things happen!

This site is amazing, and I have learned so much just lurking for the past couple of weeks.  Very excited to become a member of this amazing community and learn from the best!

Nick