Posted by Nyke on December 16, 2002 at 19:21:41:
Dayton, Ohio. You?
-Nyke
Deals Coming In… Need Advice. - Posted by Nyke
Posted by Nyke on December 16, 2002 at 14:41:52:
Hi,
I’m a real estate investor in Ohio. I’ve done over 12 Wholesale deals so far and am working on a lease option where me and another investor will split about $25,000 when the smoke clears. I feel like our market for good deals (60% bellow market value) is hot right now. I’ve found houses from $36.00 bucks to $4,500. In fact I put one under contract last Thursday for $2,000 and selling it tomorrow or Wed for $5,700 (Comps are $45,000 up to $55,000). I would like to find another way to track down deals, like using a Realtor. How do you use Realtor contracts so that they are asignable? Does anybody know of any one with experience who would show me? Would be willing to split $$$. If you could e-mail me or point me in the right direction I would appreciate it. Thanks.
-Nyke
Your contract - Posted by Bob
Posted by Bob on December 17, 2002 at 24:25:12:
Nyke, Congrats on your success! I am a realtor in WV, and my firm uses a standard contract ‘form’, BUT, it is always the client’s ‘contract’ and as such I will write anything in there the buyer requests, and cross-out or modify language as requested, provided it’s legal. I don’t know anything about Ohio, but I would assume it is acceptable to do this there as well, and you say you have relationships with several realtors who are willing to accomodate, so that shouldn’t be a problem. Just compare your contract to theirs and make any adjustments.
Of course, according to Al (previous post) I’m just a “Drone” who can’t spot a deal, so maybe you don’t want to listen to me 
Good Luck
Bob.
Re: Deals Coming In… Need Advice. - Posted by Al
Posted by Al on December 16, 2002 at 16:14:47:
12 DEALS AND SPLITTING $25,000.
Work all realtors in your area and forget one realtor
to find deals and forget partners now and giving 1/2
of your profits away.
Most realtors cant spot deals anyway or theyd be
investors.
Thats like a stock broker telling you he loves making cold calls and lying to everyone all the time to make a living. If he could really make serious money in the market he wouldnt be working as a drone for a fraction of
the money.
Never rely on one agent - work the whole field and
you`ll uncover the number of deals a year you need.
Good Luck.
Re: Deals Coming In… Need Advice. - Posted by TC(OH)
Posted by TC(OH) on December 16, 2002 at 15:34:00:
Where in Ohio?
Re: Your contract - Posted by Nyke
Posted by Nyke on December 17, 2002 at 06:12:46:
Thanks Bob,
That was the best advice I heard so far. And that was funny about the “Drone” part. LOL. =) Happy Investing!
-Nyke
Re: Deals Coming In… Need Advice. - Posted by Nyke
Posted by Nyke on December 16, 2002 at 19:19:37:
Al,
You really didn’t answer my question. I was asking how to right up Realtor contracts. I’m used to using my contracts with my contingencies that I put in them that are also assignable. My question is how do you assign Realtor contracts? I have several agents that I can work with that are on my jock and will do what ever I say. I just want to do it right and be able to assign my deals to my CASH buyers without getting stuck at the closing table. Can you answer that for me? As far as splitting cost that’s the price I am willing to pay to learn the game. I don’t mind. What do you do? How many “Wholesale” deals have you done?
-Nyke