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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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.
Two!
More than 1 is too many
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 ]
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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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
I can’t afford 4-5 wives....
Mentally or financially....
Much less Physically…
The performance anxiety would be horrible….
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