Not necessarily partners in a strict legal sense, but nonetheless what is often called partnering, we are always looking to extend our network related to real estate activities. In essence, we are establishing House On Term teams in all parts of the country.
We need good real estate attorneys on our teams, to advise us, to represent us, and to help with closings. Ideally, we are looking for real estate attorneys who also own a title company.
A good title company is always needed, even if not owned by an attorney.
Then there is the real estate agent. We love to work with agents, although much of our negotiations take place directly with property owners and buyers. Sometimes we refer potential short sales to agents who specialize in those situations. We also appreciate agents calling us before listing bank owned properties, to let us enter an opening bid that can be listed as “under contract” or “sale pending” from day one. When a listing is impossible because seller does not have enough equity or other means to cover commissions and closing costs, we are often able to structure a deal to help that client sell on terms that agents usually cannot engineer. Finally, when listings expire, or have expired, and clients refuse to relist with an agent, that agent may, as a measure of good will to the client, refer them to us for a possible solution.
Contractors, of all kinds, should definitely let us know they are willing to work with us. We always have a need for them, both for ordinary maintenance and repairs and for more extensive remodeling. Building from the ground is also a possibility, for which we’ll need architects and other professionals, as well.
Finally, anyone interested in finding properties for us should let us know. When you do, we keep track of the leads you provide, and you are compensated when a transaction occurs because of it.
Oops! Almost forgot: we frequently find deals where private lenders are needed. When we buy a house to keep and rent, or to resell within a year or two, there is an opportunity for a private lender to help us finance that purchase in return for much higher interest than is paid by banks. Usually, this private lender is secured by a mortgage on that same property, and the amount of the loan is kept relatively low in comparison to the value of the property, to make it even more secure, and easy to liquidate. We actually have a blog post on that. You can find it here.
Use the form below to let us know you are interested in a relationship, and do call us back at 708-414-6041 if you don’t hear from us within 24 hours (not counting weekends and holidays). We do want to hear from you.