I understand drawing up an assignment contract and assigning the contract to the interested investor, just not so sure which contract to use or if the listing agent is familiar with that type of set up.Back to more researching!

They mainly use the GCAAR application which doesn't allow you to assign.I'm assuming if I am able to assign it I would speak with the listing agent draw up the contract and then assign it to the interested investor.

The 37K for rehab is held in an escrow account that I can take draws from as I finish parts of the rehab.I wired the contractor 18.5K to start the construction project.At the end of the day I was out of pocket roughly 40K to get the project going.If you want more details let me know.Thanks,Matt

Michael,You should let an escrow company hold the security deposit, and escrow will draw up the paper work on what the deposit is for, and both parties sign it.

I have a property in Charlotte that I wanted to rent out with a rent to own option.Do I need a lawyer to draw up the contract (I heard in TX that is what is needed).

This is possible especially if you don't have a lot of lending experience.2) Make sure you have money to make HELOC payments and foreclosure costs if borrower stops paying and you have to take property back, fix-up and resell.3) If the HELOC requires a minimum draw and you aren't able to lend the money you will still have to pay the 6% without the 12% coming in.4) Make sure that if there is a balloon on the HELOC you have the money to pay it off when it comes due.

Additional increments, usually called "draws", should be handed out only as the work progresses.

I had to draw the contract and do the negotiations myself, which was a learning process.I am looking to utilize hard money, Just need to find the right deal!

I'm new to non-residential so, my question to all the experienced investors out there is where do I draw the financial line between me and the potential renter?

The wife is currently working v2 of the drawings...will post in the next day or two and you'll see a lot of the suggestions incorporated...