All Forum Posts by: Bill R.

@Carl Trent I would get it under contract for the least the seller is willing to accept, that's why we ask "What is the least you would be willing to accept, knowing that I am a cash buyer that will close quickly with no inspection contingencies and an investor that will not be living in this property and need room to rehab and turn a profit". You don't know if you will have trouble unloading this property and it is safer to have room to negotiate with cash buyers. Plus, you worked for this deal don't let anyone tell you you are making too much for being able to market, meet, analyze and negotiate a deal they are jealous of. Good cash buyers don't care how much you make off the deal as long as the numbers work for them.

Well it slowed down a little, but number 5 under contract and have 2 other properties to look at this week. 

@Michael Smith 

Priscilla is correct. I used an investor's contract for years when buying pre-foreclosure and it worked fine. Typically the seller's did not have an attorney and it was more for debt relief and save credit. When I started more with probate properties I had some complaints and was asked why I don't use a typical contract. I use a contract that was written up by one of my attorneys. This was the one he used for his everyday clients and I added in some of my own verbiage. Just make sure you don't forget the most important thing - "and / or assigns"

@Lyandrea Russell Welcome to BP. Sounds like you have a plan.

Dirtcheapsign.com 

You can use property name for LLC or anything you want. I set up my own LLC's, it's cheap and easy. But if that's not in your comfort zone - I am sure an attorney would be happy to charge you for that. Around here an attorney would charge anywhere from $350 to $1,500.00 to set up a LLC. If you do the one page application yourself, fax it w\ 24hr turnaround - $85.00

@Angelo Mart 

I know how frustrating the whole no transfer of title within 30-60-90-120 days can be. This is a method I used successfully numerous times to avoid that time frame. I used this method with short sales. Start an LLC with your LLC and your end buyers LLC as members. Within the operating agreement state that the LLC is to purchase only the one said property and the stated value of the property is a certain dollar amount. Then set members' shares to reflect the amount of money you are said to receive for your assignment (maybe his share will be 85% and yours 15%) Your end buyer funds the deal and then buys your share of the LLC at the same closing.

Welcome

@Adam Jordan  

@Robert Curls 

I am looking to start an absentee owner mailing as well. Do you guys generate your own list or purchase? If you generate the list yourselfs, how do you go about the process. I know the process for probate and pre-foreclosure, but haven't tackled this niche yet.