[ghosthomes]

Im interested in what type of contracts to use to be able to control real estate with out having to own it, these are mainly homes that have been setting for a while and need some fixxing to them, but I don't want to fix the house then the owner back out on me. Iwant to be able to fix then flipp then pay previous owner.

[Fr_Chuck]

You buy them on a contract for deed, ( name and some terms my vary by state) in it, you agree to buy from the owner the property, you give them a down payment, and pay monthly payments. It can be a simple agreement or pages in length. Depends on if I am the buyer or seller what I prefer.

I have bought them where I agree to put so many thousand in repair within so many months instead of a down payment, I have bought some with no down payments.

I did a couple like that last year, at closing they actually sign the documents, since they still hold the deed, but you merely make sure your contract allows for a earlier payout without penalty.

Or you can sign a contract to fix it up and sell it and split on some agreement the profits. That way you are not out as much money up front. ** I have not done this but saw this on some of the flippig shows on TV.

But if you can get a line of credit at the bank, it is easier just to buy them and fix them up and then sell them, But it works either way