All Forum Posts by: Na Miller

@Account Closed

What do you mean, "they will not be getting a dime for letting you put their property under contact. They call that screw the seller, as long as I make a dollar?"

Good afternoon Matt!

Welcome to Bigger Pockets! This is, in my humble opinion, the best investor resource around! I have never failed to get the answers/help I need to move forward in my investing career.

To answer your question, when I have a buyer that truly has a deal (for me it's calculated at about 78% or below of ARV (NOT current market value!)), I discuss my offer price with the owner. If they are amenable to selling to me, with the understanding that I will be re-selling the contract AND making a profit for that, I simply have them sign a Real Property Purchase Contract and then begin the process of having those on my buyers list, that I think would be interested in this particular property, look at the property to determine if they would like to purchase the contract from me.

If you need a basic contract to work with in your state, just send me a collegue request with your e-mail address and I will send the contract I use over to you.

Good luck in all your investing endevours!

Thank you Matt! I will contract it.

I have found a number of properties that could be good deals for my investors ... but how do I present them? I am unsure whether I should send out all my property due diligence information (my 'package') to a bunch of investors that I have never worked with without having the propery under contract ... yet I don't want to put it under contract with my seller and then let the clock tick while trying to get investor interest. Do I just 'trust' that my investors will not 'go around me to my potential seller? Help!

Welcome Rebeca!

A lot of us indeed did get out of the corporate world and into making money for ourselves and getting some freedom! So Go For It and take him right along with you ... he'll jump right in! All the best from Los Angeles

Welcome Welcome Welcome Scott! And congratulations on your first investments ... you've picked the greatest company in the world to work for ... Yours!

All the best of luck in your investing endevours!

Hello Angie:

A friend of mine, new to investing, used For Sale By Owner. He actually sold 2 homes there and learned enough after that to just go through the process on his own. He paid about $500 for each listing.

Good luck whichever way works out for you!

Thank you everyone!

Hello everyone!

I just received the email of 200+ REO properties under contract through a bank. Apparently, they are some special broker for this banking concern (which is made up by a number of what appears to be small, local, east coast banks).

Some of the best properties though are part of a large 'bulk' sale. I would be VERY interested in a couple of them if they were separated out of the deal...but their 'broker' said it's not possible. This is really weird because it has a couple of SFR's in the So Cal area lumped in with commercial, industrial, strip malls and 200+ acre lots in AZ ... It's just weird! Can someone explain what this is exactly and who is buying these things!?

Anyway, part of their list includes a couple of single properties that I am interested in AND can buy separately. Obviously, because I am new to this, I don't really know how to 'tie these things up'! Should I try this 'Joint Venture' route that a couple of my investors have discussed with me? Should I try to find the interest of some of the investors on this awesome web site called Bigger Pockets? I just had this same issue with a development deal and ... here it is again.

I need to understand the legalities of giving investors, whom I have never met, leads that they might be interested in!

Helllllllp! ... Thanks!

@Karen Margrave Thank you! Thank you Karen! I'll be sure to update you and let you know how this proceeds. How fun!