All Forum Posts by: Roosevelt Carter Jr

Hey All, So i know sandwich leasing is illegal in Texas. But what about lease assignment or lease option assignments? How would this be set up with paperwork. Example... I sign a contract with a seller either leasing his property or leasing with the option of buying. Of course my name being on there as tenants living in the property. Lets say i want to lease option or lease assign. Would i have the new tenants sign a lease option or agreement with me and ask for a assignment fee?

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I have a assignment contract that i am working on between me and the buyer. I also have a purchase and sell agreement between me and seller and i am assigning my rights to the new buyer. The monthly payment that I have discussed between the me and the seller that the buyer will pay monthly is $1,099 and the monthly payment that i have been discussing between me and the buyer is $1,473. My Question i have here is, Is this something that is okay for me to do if i'm simply already assigning a contract i have with the seller to the buyer with these terms, and collecting the difference.

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Awesome thanks for the information! Definitely needed a seller financing mentor! Originally posted by @Michael Mullins:

Okay, that works. Do you have a calculation to run to find out if the numbers work out. If not head over to

https://www.creativecashflow.com/ and learn everything you can from Grant Kemp. Also look up his information on youtube.com. Look for the calculation sheet called
"wet stone". That one video is so gold, it will make you so much money. CRAZY stupid Grant doesn't charge more for his course.

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The thing is it wouldn’t make sense as a cash sale because of ARV and what seller wants . So My plan was to just seller finance that way my NEW BUYER can own the property IF repairs was needed and just pay the SELLER monthly on terms monthly.

Originally posted by @Michael Mullins:

No you don't need to fill that out. However, if you are wholesaling the property you don't need to really take the house down with Owner Financing. You can just take it down with a assignment contract. Really use a normal purchase and sale contract that has the word "and or assignable" by your companys name. You should be very careful assigning Sub2 deals. Because you will not have any control over that house when you sell the Sub2 deal to another investor.

Let me know if you have any questions.

Originally posted by @Roosevelt Carter Jr:

Hey so I just seen ur attorney website I actually got in contract with her as well.

I see the seller finance addendum on here. It has a section where it says credit documentation. As someone who is going to wholesale deal. Do i need to fill that out if I’m trying to buy my clients home via seller finance? Originally posted by @Michael Mullins:

If your in Texas like I am I only use Allison Tipton out of San Antonio. Her contracts will keep you out of trouble. Feel free to drop my name when you talk to her. Plus as a note servicing company I use Madison management to handle the payments and on boarding. Best $35 a month the buyer ever pays for.

Let me know if you need anything else

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No I don’t have a title company as right now.

Originally posted by @Ronald Rohde:

What questions do you have in mind? I offer flat fee for packages, do you have a title company?

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Hey so I just seen ur attorney website I actually got in contract with her as well.

Let me know if you need anything else

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Is that ur lawyer “Allison Tipton” I am in the DFW area

Originally posted by @Michael Mullins:

Let me know if you need anything else

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Hey all, What seller finance contracts do you guys use in the state of Texas?

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Bumping

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All Forum Posts by: Roosevelt Carter Jr

Roosevelt Carter Jr has started 7 posts and replied 21 times.

Post: For lease properties

Post: Seller Finance assignment?

Post: Lease options Contracts

Post: Seller Finance Contracts

Post: Seller Finance Contracts

Post: Seller Finance Contracts

Post: Seller Finance Contracts

Post: Seller Finance Contracts

Post: Seller Finance Contracts

Post: Lease options Contracts