Getting Out Of The Gates!
I am a new investor, and been setting on the side lines for to long, I'm ready to get into the game. This past week I met with a realtor and looked at a few duplexs in my area. The good deals don't set around for long in sacramento. I had my eye one two duplex this past week and when i got around to making an offer they had allready been put into escow. My problem is that i waited to long to make an offer, i'm not shy, but just have a few loose end that need to be tied up before i start off. I plain to wholesale the property to an other investor, i have my list of investors down, probley 5 soild ones that can come through on a deal. Where i get uncomfortable is making the offer to the realtor. Now the day has come and i found a great investment property that i looked at this morning, the realtor has not listed the property on the mls as of yet. and we are meating in the morning to draw up an offer. I let the realtor know that i plain to flip the property to an other investor, and he does not have a problem with that. So here is my question i comfortable with the price, but how do I structure the terms with the realtor. I have investors that can come to the table with all cash and others that will have to take out a loan.( I am also a loan officer and will be handing their loan) So how do I structure the deal so that either investor can be applaied to the terms that I make in my offer. And since i will be setting down with the realtor and using his contract what clause or points should i make sure is in the offer so i can pass this along to an other investor. All sugestions and help would be of great use as the clock is ticking. Thank You, Dennis.
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