Creating contract to buy when using partners. - Posted by Tom

import · June 29, 2002, 9:36pm

Posted by John J. on June 30, 2002 at 13:10:41:

I have done many such deals and always put “and/or assigns” behind my name as the buyer on the purchase agreement. Never had a problem. Whetever you do, I recommend that you and your partner put your agreement in writing. I’ll be willing to email a copy of one of my partnership agreements to anyone who emails me with a request.

import · June 29, 2002, 9:36pm

Posted by Tom on June 29, 2002 at 21:36:20:

I am currently woking a deal that is going to require me to take on a partner. I would like to get this deal under contract before presenting it to any would-be partners to save myself from being back-doored.

When I sign a contract to buy, do I simply need to put “and/or assigns” or is there something more specific I will need to put down; or does it even really matter?

I don’t think I will have any trouble finding a partner for this deal. The ROI if we lease the property out will be 15.48%, or if we flip it, the profits will be a little over $1.3mil. All this from a $260,000 investment

Thanks in advance for any advice.
Tom