Simple & Plain
Hi RE investors, I just got laid off at work and now have fulltime to absorb knowlegde of & understand the principles of, RE investing.
Simple & Plain, I want to assign purchase agreements, but don't where to begin and how to protect my self. Any applicable response is greatly appreciated.
QueenTess,
Glad to meet you.
Plain & Simple there is now magic plan to learn creative real estate investing, period.
If there were I would send you a REI Pill, that you could take with a glass of water and 'bingo' now I are one.
You need to find the method you are interested in, then find a course that will cover that method from A to Z. There are many courses here at TCI from some Pro Investors that will get you going. You can also read the Articles and posts here concerning the method you are interested in that will help you.
Welcome on board this board, sorry no easy way to get started, you need to gain the knowledge and more importantly apply that knowledge.
John $Cash$ Locke
Thank you John for your response.
As far as methods of obtaining and selling RE for quick profit, I have found that a simple purchase agreement and an assignment of the purchase agreement will allow for pure profit without a commitment to the RE in question. Only problem I have is the contents to the contract to suit this method. Can you help me with this John?
QueenTess,
Please tell me what State you live in. I will see if I can help you with the forms you need.
John $Cash$ Locke
New York, John thank you.
QueenTess,
I will pass this request on to John LV, he is the Research Guru here at Cash Now, if anyone can find the info he can.
John $Cash$ Locke
Hi QueenTess,
I posted this on another thread last night, but I feel it also applies to your situation, so repost here for you.
The paperwork depends upon how you want to buy it. Are you a cash buyer, do you plan on doing a subject to deal, how about buying it under a contract for deed/sale, a land contract, or an agreement for deed/sale depending upon whatever state you live in and not get the deed until you complete the contract or last but not least a L/O and not get the deed until you exercise the option.
My whole point is there are a lot of different kinds of paperwork depending on how you plan to buy the property.
Then of course the next question would be “How do I plan to sell it?” and the paperwork question starts all over again.
I recommend you read everything on this board, find the niche that you like and then purchase that course so you will be prepared for your REI career. There are many ways you can start out and learn how to do it and get into REI.
Best of luck
John (LV)
Thanks John(LV).
Could you give me some more infromation about subject to deal agreements?
Hi QueenTess,
When we buy Subject to we are purchasing the property 'Subject to the existing financing' meaning the loan is staying in the seller’s name.
Since each state is different on it’s requirements, all the contracts and paperwork supplied in our ‘Sub to’ manual to purchase property this way come with the suggestion and recommendation to take them to your attorney to make them state specific. There really is no one size fits all.
Best of luck
John (LV)