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    ghosthomes's Avatar
    ghosthomes Posts: 3, Reputation: 1
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    #1

    Mar 1, 2008, 11:39 AM
    Getting a mentor
    I am 26 yrs. Old, I am interested in having someone mentor me in real estate. My interest are in fixing & flipping but doing it through contract for deeds. I mainly need taght in the legal writings and a-z paper work for closing and deed transfers.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Mar 1, 2008, 03:47 PM
    First you don't try and sell the houses yourself, you use a real estate company and have all of the deeds done by a title company or a real estate attorney. Next you want to do a title search on any property you are going to buy.
    As for the contract, you want to have a local attoreny write up a basic agreement that both you and the seller will agree to. You will find unless you are paying enough down most sellers will not be interested in a contract for deed. They are used more than anything for a seller who does this instead of renting, gets a larger down payment, expecting to take it back and resale it. The main profit in contract for deeds is resaling the same house several times.

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