Comments on: The Real Estate Option Contract…Undressed (Plus Free Download) http://reitips.com/real-estate-option-contract/ Real Estate Investing, Undressed: Tips, ideas and news real estate investors can use. Wed, 07 Jan 2009 01:00:05 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Gionki http://reitips.com/real-estate-option-contract/comment-page-1/#comment-1235 Gionki Tue, 30 Dec 2008 04:43:00 +0000 http://reitips.com/?p=503#comment-1235 Jp- As a Wholesaler, 1. How where are your top 3 ways you are marketing to investors your wholesaling service? 2. How are you keep your investor list clean? 3. Ever wholesaled a house from the MLS? <blockquote><strong>Great questions, Gionki. My quick answers are: 1) I got to a point where almost all my REI business happens through my network of friends and referrals and such. Most eventually get there. But at first I got a lot of leverage out of my REIA group meetings and networking there, and also I placed a couple of "dummy" ads in the paper to generate some calls.</li> 2) I don't have to clean it. I just keep up with who's in a "buying mode" and what they're interested in. Then when I come across a deal, I know pretty quick whether or not I have a potential buyer. I don't deal with hundreds and hundreds of buyers. I prefer the more personal approach with a handful of players.</li> 3) If you mean, listed a house in the MLS that I was wholesaling, then no. If you mean, contracted a house in the MLS, then wholesaled it, then yes. :)</li></ol> Hope that helps! ...jp</strong></blockquote> <div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('1235','Gionki'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('1235','Gionki','Jp- As a Wholesaler, \r\n1. How where are your top 3 ways you are marketing to investors your wholesaling service?\r\n2. How are you keep your investor list clean?\r\n3. Ever wholesaled a house from the MLS?\r\n\r\n<blockquote><strong>Great questions, Gionki. My quick answers are:\r\n\r\n1) I got to a point where almost all my REI business happens through my network of friends and referrals and such. Most eventually get there. But at first I got a lot of leverage out of my REIA group meetings and networking there, and also I placed a couple of \"dummy\" ads in the paper to generate some calls.<\/li>\r\n\r\n2) I don\'t have to clean it. I just keep up with who\'s in a \"buying mode\" and what they\'re interested in. Then when I come across a deal, I know pretty quick whether or not I have a potential buyer. I don\'t deal with hundreds and hundreds of buyers. I prefer the more personal approach with a handful of players.<\/li>\r\n\r\n3) If you mean, listed a house in the MLS that I was wholesaling, then no. If you mean, contracted a house in the MLS, then wholesaled it, then yes. :)<\/li><\/ol>\r\n\r\nHope that helps!\r\n\r\n...jp<\/strong><\/blockquote>\r\n\r\n\r\n\r\n'); return false;">Quote</a></div> Jp- As a Wholesaler,
1. How where are your top 3 ways you are marketing to investors your wholesaling service?
2. How are you keep your investor list clean?
3. Ever wholesaled a house from the MLS?

Great questions, Gionki. My quick answers are:

1) I got to a point where almost all my REI business happens through my network of friends and referrals and such. Most eventually get there. But at first I got a lot of leverage out of my REIA group meetings and networking there, and also I placed a couple of “dummy” ads in the paper to generate some calls.

2) I don’t have to clean it. I just keep up with who’s in a “buying mode” and what they’re interested in. Then when I come across a deal, I know pretty quick whether or not I have a potential buyer. I don’t deal with hundreds and hundreds of buyers. I prefer the more personal approach with a handful of players.

3) If you mean, listed a house in the MLS that I was wholesaling, then no. If you mean, contracted a house in the MLS, then wholesaled it, then yes. :)

Hope that helps!

…jp

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]]> By: Karl http://reitips.com/real-estate-option-contract/comment-page-1/#comment-1196 Karl Wed, 24 Dec 2008 22:48:58 +0000 http://reitips.com/?p=503#comment-1196 Hey JP, one more related question. This is a tax related question: Could you deduct $100 from a self directed Roth IRA to put an option on a home and then assign the property and take the profits and keep it in your ROTH IRA? (turn $100 into $10,000 in a Roth and the $10,000 is now tax free upon withdrawal at 59 1/2 yrs of age?) <strong><em>From JP: Karl, that's a great question. And I have absolutely no idea. :-) I've never dealt with the investing from your Roth IRA stuff. Anyone else out there that has wanna chime in?</strong></em><div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('1196','Karl'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('1196','Karl','Hey JP, one more related question. This is a tax related question: Could you deduct $100 from a self directed Roth IRA to put an option on a home and then assign the property and take the profits and keep it in your ROTH IRA? (turn $100 into $10,000 in a Roth and the $10,000 is now tax free upon withdrawal at 59 1\/2 yrs of age?)\r\n\r\n<strong><em>From JP: Karl, that\'s a great question. And I have absolutely no idea. :-) I\'ve never dealt with the investing from your Roth IRA stuff. Anyone else out there that has wanna chime in?<\/strong><\/em>'); return false;">Quote</a></div> Hey JP, one more related question. This is a tax related question: Could you deduct $100 from a self directed Roth IRA to put an option on a home and then assign the property and take the profits and keep it in your ROTH IRA? (turn $100 into $10,000 in a Roth and the $10,000 is now tax free upon withdrawal at 59 1/2 yrs of age?)

From JP: Karl, that’s a great question. And I have absolutely no idea. :-) I’ve never dealt with the investing from your Roth IRA stuff. Anyone else out there that has wanna chime in?

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]]> By: Karl http://reitips.com/real-estate-option-contract/comment-page-1/#comment-937 Karl Thu, 11 Dec 2008 23:43:27 +0000 http://reitips.com/?p=503#comment-937 So, JP, if you were beginning to learn wholesaling, would the combination of the option contract and the assignment contract be all needed to wholesale a property? Thanks. <strong><em>You could definitely do it that way, Karl! :-) ...jp</strong></em><div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('937','Karl'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('937','Karl','So, JP, if you were beginning to learn wholesaling, would the combination of the option contract and the assignment contract be all needed to wholesale a property? Thanks.\r\n\r\n<strong><em>You could definitely do it that way, Karl! :-)\r\n\r\n...jp<\/strong><\/em>'); return false;">Quote</a></div> So, JP, if you were beginning to learn wholesaling, would the combination of the option contract and the assignment contract be all needed to wholesale a property? Thanks.

You could definitely do it that way, Karl! :-)

…jp

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]]> By: Karl http://reitips.com/real-estate-option-contract/comment-page-1/#comment-910 Karl Thu, 11 Dec 2008 04:01:55 +0000 http://reitips.com/?p=503#comment-910 JP, dissecting the purchase and sales agreement, the option contract, and the assignment contract were excellent. You are an excellent teacher, very clear and concise. Thank you. Question: could the option agreement be revised slightly to tie down a contract on other personal properties such as boats, planes, or jewelry? <strong><em>From JP: Great question. The answer is...I have no earthly idea. ;) Sorry, but I'm blank on that one. Thanks for commenting though! :D ...jp</em></strong><div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('910','Karl'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('910','Karl','JP, dissecting the purchase and sales agreement, the option contract, and the assignment contract were excellent. You are an excellent teacher, very clear and concise. Thank you.\r\n\r\nQuestion: could the option agreement be revised slightly to tie down a contract on other personal properties such as boats, planes, or jewelry?\r\n\r\n<strong><em>From JP: Great question. The answer is...I have no earthly idea. ;) Sorry, but I\'m blank on that one.\r\n\r\nThanks for commenting though! :D\r\n\r\n...jp<\/em><\/strong>'); return false;">Quote</a></div> JP, dissecting the purchase and sales agreement, the option contract, and the assignment contract were excellent. You are an excellent teacher, very clear and concise. Thank you.

Question: could the option agreement be revised slightly to tie down a contract on other personal properties such as boats, planes, or jewelry?

From JP: Great question. The answer is…I have no earthly idea. ;) Sorry, but I’m blank on that one.

Thanks for commenting though! :D

…jp

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]]> By: Paul http://reitips.com/real-estate-option-contract/comment-page-1/#comment-872 Paul Tue, 09 Dec 2008 11:52:01 +0000 http://reitips.com/?p=503#comment-872 Hi thanks for the tutorials it is like having the ob1 of contracts in your ear<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('872','Paul'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('872','Paul','Hi thanks for the tutorials it is like having the ob1 of contracts in your ear'); return false;">Quote</a></div> Hi thanks for the tutorials it is like having the ob1 of contracts in your ear
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]]> By: JP Moses http://reitips.com/real-estate-option-contract/comment-page-1/#comment-776 JP Moses Tue, 02 Dec 2008 21:37:40 +0000 http://reitips.com/?p=503#comment-776 <a href="#comment-772" rel="nofollow">@Rachel</a> - A keen observation, Rachel. Yes, you'd need an assignment agreement in order to assign your option contract. And you can get one free right here: http://reitips.com/real-estate-assignment-contract :-) ...jp<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('776','JP Moses'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('776','JP Moses','<a href=\"#comment-772\" rel=\"nofollow\">@Rachel<\/a> - A keen observation, Rachel. \n\nYes, you\'d need an assignment agreement in order to assign your option contract.\n\nAnd you can get one free right here: http:\/\/reitips.com\/real-estate-assignment-contract\n\n:-)\n\n...jp'); return false;">Quote</a></div> @Rachel - A keen observation, Rachel.

Yes, you’d need an assignment agreement in order to assign your option contract.

And you can get one free right here: http://reitips.com/real-estate-assignment-contract
:-)
…jp

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]]> By: Rachel http://reitips.com/real-estate-option-contract/comment-page-1/#comment-772 Rachel Tue, 02 Dec 2008 18:41:52 +0000 http://reitips.com/?p=503#comment-772 I was listening to your first video on viddler. By the way, > it was great so is your entire website. > > My question about the option contract since you mentioned about > assigning. Wouldn't I need another contract to assign? I live in the > state of Virginia. Would this work in VA?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('772','Rachel'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('772','Rachel','I was listening to your first video on viddler. By the way,\r\n&gt; it was great so is your entire website.\r\n&gt;\r\n&gt; My question about the option contract since you mentioned about\r\n&gt; assigning. Wouldn\'t I need another contract to assign? I live in the\r\n&gt; state of Virginia. Would this work in VA?'); return false;">Quote</a></div><div id='wpcr_tags'>Comment Tags: <a href='/real-estate-option-contract/feed/comment-tag/assignee'>assignee</a>, <a href='/real-estate-option-contract/feed/comment-tag/contract'>contract</a>, <a href='/real-estate-option-contract/feed/comment-tag/option'>option</a></div> I was listening to your first video on viddler. By the way,
> it was great so is your entire website.
>
> My question about the option contract since you mentioned about
> assigning. Wouldn’t I need another contract to assign? I live in the
> state of Virginia. Would this work in VA?
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Comment Tags: assignee, contract, option
]]> By: Dub http://reitips.com/real-estate-option-contract/comment-page-1/#comment-727 Dub Fri, 28 Nov 2008 15:11:54 +0000 http://reitips.com/?p=503#comment-727 Great Video Tutorial JP! Very Informative and Easy To Grasp. This is the Tpye of Information I Love. Please Continue Making These Type Of Video Tutorials... With Relevant and Useful Information. Outstanding Job!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('727','Dub'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('727','Dub','Great Video Tutorial JP! Very Informative and Easy To Grasp. This is the Tpye of Information I Love. Please Continue Making These Type Of Video Tutorials... With Relevant and Useful Information. Outstanding Job!'); return false;">Quote</a></div> Great Video Tutorial JP! Very Informative and Easy To Grasp. This is the Tpye of Information I Love. Please Continue Making These Type Of Video Tutorials… With Relevant and Useful Information. Outstanding Job!
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]]> By: Swarup http://reitips.com/real-estate-option-contract/comment-page-1/#comment-460 Swarup Wed, 19 Nov 2008 06:54:54 +0000 http://reitips.com/?p=503#comment-460 Wow. Thanks very much jp. It's awesome to see someone explain this stuff. I needed this! ...and more of this kind of information.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('460','Swarup'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('460','Swarup','Wow. Thanks very much jp. It\'s awesome to see someone explain this stuff. I needed this! ...and more of this kind of information.'); return false;">Quote</a></div> Wow. Thanks very much jp. It’s awesome to see someone explain this stuff. I needed this! …and more of this kind of information.
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]]> By: JP Moses http://reitips.com/real-estate-option-contract/comment-page-1/#comment-436 JP Moses Mon, 17 Nov 2008 13:03:53 +0000 http://reitips.com/?p=503#comment-436 <a href="#comment-425" rel="nofollow">@Dean</a> - Dean, I'm so glad you like them. Thanks for the feedback. You can download and save YouTube videos using a service at http://www.keepvid.com. You'll also need to download a free .FLV viewer to be able to watch them. And don't forget to add ".flv" to the end of the file extension after you download it. Technically you're not supposed to be able to download YouTube videos. I just shared one of my little secrets with you. :-) ...jp<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('436','JP Moses'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('436','JP Moses','<a href=\"#comment-425\" rel=\"nofollow\">@Dean<\/a> - Dean, I\'m so glad you like them. Thanks for the feedback.\n\nYou can download and save YouTube videos using a service at http:\/\/www.keepvid.com. You\'ll also need to download a free .FLV viewer to be able to watch them. And don\'t forget to add \".flv\" to the end of the file extension after you download it.\n\nTechnically you\'re not supposed to be able to download YouTube videos. I just shared one of my little secrets with you. :-)\n\n...jp'); return false;">Quote</a></div> @Dean - Dean, I’m so glad you like them. Thanks for the feedback.

You can download and save YouTube videos using a service at http://www.keepvid.com. You’ll also need to download a free .FLV viewer to be able to watch them. And don’t forget to add “.flv” to the end of the file extension after you download it.

Technically you’re not supposed to be able to download YouTube videos. I just shared one of my little secrets with you. :-)
…jp

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