However, repairs or improvements must be permanently affixed and add value to the real property.Costs and Escrow Accounts The costs of the renovations will be based on the plans and specifications for the work and on the Construction contract for all of the work requested by the borrower.

Hi All,I am in contract to purchase a 2-family property.

I am under contract to buy a multifamily.

For a small percentage of the total rent, most companies are able to find you a tenant within the first month of contract.

I’m new to wholesale and was told to use a trec wholesale contract, “one to four family residential contract”.

I’m new to wholesale and was told to use a trec wholesale contract, “one to four family residential contract”.

The details are: Purchase Price = $425,000Repairs Needed = $50,000Terms = Land Contract- 7.5% down at 6.25%-20 year am 5 year balloon.

They are making great money in the summer months but likely to break even in the fall winter and spring.

Do I need contracts, a lawyer, property manager or is it just a person to person thing where we have a loose agreement?

What is the wording in that contract you own?