What Do I Need For A Flip?

I need help understanding something. Say I find a motivated seller and all I want to do is flip the property to another investor without having anything in my name.



My question is what forms would I need for the seller and for the investor?


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Comments(7)

  • dennis34566th February, 2006

    You will need a sales contract that is assignable to another party. You will also need a contract assigning your interest to the new buyer.

  • edmeyer1st February, 2006

    Two!

  • linlin1st February, 2006

    More than 1 is too many

  • tbelknap6th February, 2006

    Partnerships only work out when everyone brings something different to the table. So the question is what can everyone contribute? [ Edited by tbelknap on Date 02/06/2006 ]

  • mikejaquish7th February, 2006

    A good formal agreement is absolutely needed.
    Call it a "pre-nup," if you will.
    Who gets what, etc.

    Breaking up a partnership is much harder than forming one, and sooner or later all partners part ways, including parting by death.
    Having documentation regarding the end of the partnership is just as important at the outset, or more important, than documenting how it came together.
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  • results_one7th February, 2006

    Quote:
    On 2006-02-07 08:55, commercialking wrote:
    Investors are like wives, you either want one really good one or about 4 or 5 so that they cancel each other out and when one is mad at you you have someplace else to go. This is why polygamy is the most popular maritial system historically.


    Commercialking: I laughed so hard at your above statement about investors that I almost wet my pants!!!
    But I guess in a way you are right, as long as we can apply your statement to husbands as well

    Results

  • IBuyHousesInc8th February, 2006

    I can’t afford 4-5 wives....

    Mentally or financially....

    Much less Physically…

    The performance anxiety would be horrible….
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