Hello my fellow DG family
Dean here with yet another question on a deal.
Scenerio, Lady has a house she is ready to walk away from as she needs to move back to tulsa to take care of her mother. I have spoken to her on the phone , it is FSBO she just wants what is owed. My question is when I meet her in person, should I have contracts ready there and what contracts do I need so that we could lock up this property either with a lease option as Dean's latest video talks about, where the man would get the property with a lease option to purchase , then find a tenant buyer, make a little up front, a little during the lease term, then a good profit at the end when he sells to the tenant. which contracts would I need to have with me? and would we have to go to title company, the sellar and I? to do this type of deal? and would we have to go to her lender and do anything with her mortgage? or is basically just as if I was renting the house from her ? also I was thinking to should i use some kind of guaranty to her that I will make sure that all money is put into an escrow type account so that she can call to make sure that all mortgage payments are being made? I'm trying to find all this out before I go to meet with her so the conversations will go as smoothly as possible.
Also to the assignmeent of the property as Dean talks about in his book PFRRN, I want to sell the idea of locking up the property , for say 30 - 45 days , market the property for sale , with my fee , seeing that she is not in town to show , market or anything, What contracts do I need to have ready and available with me ? and how to possibly approach this scenerio with her ? so that we can have a win win situation ?
PLEASE HELP WITH ANY ADVICE AND COMMENTS, THOSE THAT HAVE DONE SOME OF THESE TYPE OF DEALS OR A COACH THAT MIGHT BE ABLE TO HELP WITH THIS!!!!!
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