My First Offer (real Estate Contract, Purchase Agreement And Contingencies)

Comments(10)

• 
  bgrossnickle12th September, 2005

  Try calling him and discussing it. Tell him that in the contract it does not stipulate what the payment nor interest rate is for the 50k. If he says that it is interest free, then act surprised and say that it was not your understanding. Can you two work out a compromise.

• 
  ray_higdon13th July, 2005

  I recently borrowed some stuff of Pete Youngs, that guy is awesome
  [addsig]

• 
  ray_higdon15th July, 2005

  Google his name
  
  Before you go out and buy every book, go to the library and see which ones you can borrow for free
  [addsig]

• 
  ZinOrganization15th July, 2005

  interesting. i saw him speak at a local meeting and it seemed his stuff was alof of fluff. maybe i will pick it up and see if its really not. i try to read as many courses as possible just havent gotten to his yet, or found it cheap enough.
  
  Quote:
  On 2005-07-13 20:27, ray_higdon wrote:
  I recently borrowed some stuff of Pete Youngs, that guy is awesome
  
  [ Edited by ZinOrganization on Date 07/15/2005 ]

• 
  Stockpro9917th July, 2005

  Buy it Fix it is anything but fluff. I generally have two to three rehabs a month going on and I think that his book is definative.
  
  I would have saved 50K on my first deal had I read the book prior.
  
  You should partner with someone (experienced) on the first deal or two that you do.
  
  I am not in a hot market but my properties generally sell above market with multiple offers in less than a week because I follow certain formulas and finish schedules that are successful and can be duplicated time after time.
  
  Educating yourself will help you do the same thing and you can build on what works for others and make it your own.
  
  [addsig]

• 
  d_random25th July, 2005

  "What Every Real Estate Investor Needs to Know About Cash Flow.."
  Is a must have, I just read it. No fluff, very informative.[ Edited by d_random on Date 07/25/2005 ]

• 
  Samoa26th July, 2005

  Starting with No by Jim Camp on negotiation may also fit into your learning program. Negotiating the deal after you find it is going to be pretty important.

• 
  bgrossnickle12th September, 2005

  I am doing my first 1031 and I am selling two properties to buy a single property. But I could have bought 5 different property. I do not know how the number of properties bought might affect your fees.
  
  My question is .... sorry to just in on your thread ... does a 1031 make sense? The long term capitol gains rate is at an incredibly low 15%. Certainly is it now going to get any lower. So if we defer taxes until the future, there is a good chance that we will be paying a higher tax rate.
  
  Brenda

• 
  vikes14th September, 2005

  Try this company they can explain 1031s to you.
  
  
  
  http:// www. ipx1031 .com
  
  [ Edited by vikes on Date 09/14/2005 ][ Edited by vikes on Date 09/14/2005 ]

• 
  jimandlacy14th September, 2005

  We did a 1 to 2 1031 2 years ago no problems. The intermediary would do two at no extra charge.
  
  Some States have a Capital Gains tax as well (VA is 5% I think).
  
  In our situation, unless the tax laws change, we plan to 1031 until they are passed to our heirs.