How to Wholesale - Filling out an Assignment of Contract Form Real Estate Investing Training Video
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yea...this is a great video! Thank you for posting!
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@sonos327 The same exact thing is going through my mind. Do I speak to a lawyer 1st, so on and so forth?
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first transaction before x-mas lol I need money ASAP!! Do you think this is possible? I reccently just added to people to my buyers list and they are eager and ready I just don't have any properties yet and having a hard time finding them because I am a little confused on how to approach them and also who to approach. I work at Lowes Home center so i work with contractors and Investors everday and everybody is looking for a great deal but I can't find properties what should I do?
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Hi Micheal, I just getting into the wholesale business and wanted to know when you approach a seller about a property the assignment contract is saying you will get the proerty sold right? And how should you date it to have enough time to sell it? or should you wait untill you have a buyer? Also do I need to find a title company to process my transaction before I get started? Do I need a small business license before I get started also? I am very excited and ready to get started I want to do my
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Hey Bud Great Vid
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Hi Michael, great vid, I love all your stuff. Couple questions: How much of a deposit do you take from the buyer? The earnest deposit from the buyer is made out to the title company correct? And do you list the earnest deposit amount on the assignment form? Keep up the great work, love the website too! To anyone looking to get started in real estate: it DOES work, you just have to have the guts to work it! I do HIGHLY recommend finding a mentor, but if you have the guts you don't need to.
WolfSpyder3164 1 year ago
@WolfSpyder3164 - Deposit? I get equal to or greater than my earnest money (min. 2k) then the balance at closing - assignment or LLC sale doc reflects the deposit.
localmentor 1 year ago
Is it necessary to put the compensation amount in the document? Couldn't it be for "value and consideration"?
Joseph
HJosephD 1 year ago
@HJosephD - this is between you and your buyer, not you and the seller, so YES, you do put the assignment amount on there. I've only once been asked to have the seller sign an assignment form (using my contract that has a VERY WELL CRAFTED assignment provision) and in this case I did use another form (similar) without the dollar amount - so the seller knew I was assigning but didn't know for how much.
localmentor 1 year ago