Posted by george on January 26, 2000 at 20:27:48:
What exectly where you going to include in your contract that is worth $400?
Their nose is their problem – C. Sheets/support group/mentor - Posted by Russell
Posted by Russell on January 25, 2000 at 22:40:53:
I am a new, soon-to-be investor in the Fort Worth, TX, area. Presently, I have only studied Carleton Sheets course, but after spending about six hours today on this newly discovered sight, I plan to substantially expand my studies.
I am in a fairly good financial position, with excellent credit, and I’m ready to get started NOW. My immediate desire is to find a knowledgable and “willing” attorney to assist with Texas-specific laws and regulations. So far, several that I have contacted have been very uncooperative and unwilling to help. I sent them a copy of the Carleton Sheet’s contract, provided in the course, and each said it was a bad contract and would not represent me, as they sort of looked down their nose at me – and, let me tell you, that’s hard to do over the phone. One of them said that he would never represent me with a blanket, fill-in-the-blank, “menu” contract. He wanted to draw up a separate contract for each “offer”. Well, their nose is their problem, but I still need an attorney.
I would really appreciate some advice/shared experience on what I might do to get around this. I’m biting at the bit to get started but do not want to rush into this without adequate planning and preparation.
Lastly, I would like to find others in my area that would assist as a support group or mentor to help me get my “sea legs”. I plan to go to the area investment club for starters. I would also appreciate any suggestions on how to find a good broker with experience in creative financing.
*******ALSO, I have, what I believe, is an excellent opportunity on a MADE-TO-ORDER deal, but I do not feel I have the experience to get through it solo (i.e. multi-unit /reduced for quick sale/moving out of country/owner-finance/advertised as $2500 NET per month).
Re: Their nose is their problem – C. Sheets/support group/mentor - Posted by L.G. Neal
Posted by L.G. Neal on January 26, 2000 at 14:20:59:
Hi Russ. Just a couple of comments. First, NEVER, NEVER, get in as hurry to make a deal. It is foolhardy to risk your excellent credit and cash position. Second, get to know a few local realtors and ask for their contract so you can study it. Remember that all contracts are merely written agreements between parties, and all contracts are different. At the very least, your contract’s content needs to reflect the legal description of what you are buying/selling and the articles of agreement that you are “comfortable” with(i.e. purchase price, terms, etc.). That means that you need a certain level of knowledge to be “comfortable”. Third, why are you “cold calling” attorneys? Ask a friend or relative to recommend someone THEY TRUST, then meet with him/her and explain what you want to do. Be sure to bring along all of the “sample” contracts that you have “collected” so you can discuss what makes you “comfortable”. I hope this is helpful and good luck with your new venture.
L.G.
Re: Their nose is their problem – C. Sheets/support group/mentor - Posted by george
Posted by george on January 26, 2000 at 08:52:16:
I have never seen any of carelton sheets materials. Is it true that the typesetting results in an inordinate amount of blank space on each page, that most of the material is forms that could be obtained elsewhere for free and that he has never applied any of his technques himself.
Re: Their nose is their problem – C. Sheets/support group/mentor - Posted by chris
Posted by chris on January 26, 2000 at 02:31:25:
Russell-
Attorneys like $$$ as much as the next guy, so of course they would like to create a new customized contract for each offer. What did they tell you the charge for this “customized” contract would be?
To be on the safe side you may want to get a copy of the local Realtors Association contract and use that as a template for your contract. Create an addendum with your clauses in it.
You can read about this at:
http://www.creonline.com/articl86.htm
When you go to the investors’ club meeting ask the investors there for attorney recommendations so that you can get one who is not leery of creative investing.
-Good Luck, Chris
Re: Their nose is their problem – C. Sheets/support group/mentor - Posted by Paul_NY
Posted by Paul_NY on January 26, 2000 at 02:11:54:
Go over all the terms of the contract with the seller. Some may not apply or the seller may negotiate some items out. Every situation is different.
When you’ve reached an agreement with the seller, then take what you’ve got to an attorney.
Re: Their nose is their problem – C. Sheets/support group/mentor - Posted by Bert G
Posted by Bert G on January 26, 2000 at 11:19:54:
No, Maybe, No.
As to the forms, a lot of it is boilerplate that will appear in any RE form. However, there are also things in his that doesn’t appear, for example, in my state Realtor(r) form. As far as white space, depends on what you call inordinate. Our state form is so crammed its hard to read and fill out.
I’ve never met you. Is it true that you’ve stopped beating your dog?
BG
Re: Their nose is their problem – C. Sheets/support group/mentor - Posted by Russell
Posted by Russell on January 26, 2000 at 09:22:19:
Chris-
Thanks for your response and suggestions. The attorney wanted $400 for a contract - I had a suspicion that he had dollar signs in his eyes.
Russ
Re: Their nose is their problem – C. Sheets/support group/mentor - Posted by Russell
Posted by Russell on January 26, 2000 at 09:26:31:
Paul-
Thanks for you response and suggestion. I may very well give that a go with my short time frame.
Russ
Re: Their nose is their problem – C. Sheets/support group/mentor - Posted by george
Posted by george on January 26, 2000 at 20:26:24:
My dog ran off with my best friend - and boy do I miss him (friend).
Can you give me the address of any property ever bought in the city of new york using one of Sheets special contracts.