Help on 1st time L/O agreement - Posted by Kevin PA


#1

Posted by Kevin PA on December 21, 1998 at 17:27:42:

Thank you for your input, your opinion is appreciated.


#2

Help on 1st time L/O agreement - Posted by Kevin PA

Posted by Kevin PA on December 20, 1998 at 23:29:04:

I am in a position to make my first offer as an investor, but I am unsure as to what to do. I have located a property in town that was inherited by an out of state person. The property is set up to be either a 1 or 2 unit and in good condition from what I saw on my walk through, and she is very motivated to sell. My question is, how do I offer a L/O to her? Very specifically. Is there a price set that she must receive monthly, and a set sale price? Who is responsible for the tennant/buyers that I find to put in the property if they fail to make payments? Etc., etc. I have read many articles on the sight, and have a basic understanding, but need to know the specifics. Any further help would be greatly appreciated.

Thank you,
Kevin P. Vamos


#3

Re: Help on 1st time L/O agreement - Posted by Dan(OR)

Posted by Dan(OR) on December 21, 1998 at 10:33:29:

Kevin,

The best advice anybody can give you at this point is to buy an L/O course. Any of the courses here are good. I am partial to Bill Bronchick’s and recommend it highly. The couple hundred dollars you spend now could literally save you thousands later. It will make your life a whole lot easier and keep you out of trouble. No offense intended, but you only know enough now to be dangerous.

Best of luck to you!!

Dan