3.9 out of 5 stars 30 check Send / Receive Unlimited Offers March 7, 2016 at 6:53 pm Blogs / Articles Absolutely, thank you for posting this. We all have something in common, beening successful in our real estate business. Again thank you!! Can someone explain more thoroughly the part after you get the house under contract. I know you need to find a buyer but I don’t understand the escrow part. Does the contract assignment take place at the title company? Also, What verbiage would one use on the sale agreement in order to assign the contract legally? Ive heard “and/or assigns” Is that correct? Some detail in the response would be greatly appreciated. Thanks BP Investor Resources B April 28, 2017 at 9:25 am andy diaz on September 17, 2017 8:20 am I’m a little confused by your example, in the case of assigning the contract. Are you saying that the wholesaler offers the seller $52K, and then assigns the contract to the end buyer at $60K? I’m a little confused how the $8K assignment fee is applied. Can you clarify this process a little further? Register For Webinar Co-authors: Great questions Paul, this inspection period is not a formal inspection where you have an inspector to come out. This is basically you’re doing a walk-through taking pictures of the property and estimating the repair amount to get the property to turn key status. There is a great book on estimating repair cost here on BP. During this time you market the property to your buyers list to see if there is any interest. You do not have to pay for a formal inspection. Fix and Flip Your Way To Financial Freedom: Finding, Financing, Repairing and Selli... Filed in Investment Secrets by admin on December 11, 2017 • 0 Comments Online advertising 5M ago21:37 Realtor/Investor Website larry lakes April 17, 2017 Buyer agrees to pay all traditional closing cost associated with the transaction Business Card Holders Totally agree. I did the direct ownership thing and it was a total headache. Terms of Service Knowing what to look for when you “walk through a property” January 25, 2014 at 11:39 AM Although enforcement action against those only selling their own real estate or wholesalers is not prevalent, if you actively engage in the sale of real estate as your principal vocation–whether as a wholesaler or otherwise–you should consider seeking a license. Not On Our Email List? Earnings Disclaimer 43:06 February 9, 2017 at 2:09 pm Whenever a property took longer than 6 months to sell, it was usually because of one or two issues: 2017 Side Hustlin’ Student Scholarship Results Coaching With Lex And everybody is happy ! After reading your post I’m so interested in wholesaling real estate. And I do not know anything about real estate. I have a few questions, #1. Where do I get those assigment contract document Jim and Deborah have signed ? And is it the same paper Jim and Tom have signed ?#2. Where do I find that you called little office, title company or attorney? #3. How much do they charge for finalizing the closing documents for sale and is this what we known as closing fees that had usually paid by the buyer? Thank you for your post and hope to read more from your post to widen my knoledge. Mark Ferguson December 11, 2017 Using marketing & advertising tools to find deals View Calendar All it takes is the seller (who got my direct mail) to tell her friends that I’m a fraud, who will then in turn tell their friends and so on, and the reputation of my business would end up in shambles! November 16, 2016 at 2:10 pm Ideas to Attract Clients Online Where do you go to get a contract assignment and how do you know it is legit? what happens if you have completed a contract assignment and you cant sell it to anyone else? is your credit rating affected? are you legally obligated to take over the property? There is no "best" way. Only good, consecutive execution that generates lots of leads so you can sort out the noise to find the real distressed sellers who will value the guaranteed cash-out vs throwing it on the open market. The tips given where on target. I foward the link to a few of my students. Moving.com Christopher Umphress Wholesaling can be incredible for someone who doesn’t have a lot of capital, doesn’t know much about rehabbing, or doesn’t want to take the risk on purchasing and rehabbing a house themselves. Ask the Community January 24, 2017 at 4:41 pm How to Find an Investor Friendly Title Company You Rock!!!! Download Good advice for anyone wanting or thinking about investing in Real Estate. New Western is one of the real estate market’s best providers of wholesale property, and aims to help house flippers and landlords take advantage of the real estate market in Denver, create a supply to help meet demand, and, most importantly, earn a substantial profit. In an assignment, you will simply write (in the spot where you write the buyer’s name) “and/or assigns” after your name. This means that you, and/or someone you assign the contract to, will buy the property. Assignments are typically not allowed when buying foreclosures, but most homeowners will not care. However, it’s important that you are upfront with the seller about your intentions. Next, you’ll need to sign an “assignment contract” with your cash buyer which officially assigns them the contract.  June 23, 2016 at 11:20 am Schools: Wheatley Education Campus (elementary and middle), Dunbar High, Two Rivers Public Charter School (pre-K through eighth grade). Real Estate Sales Opportunity! Our team is made up of 8 motivated people with a passion for real estate and self-improvement.... March 2014 (3) check_circle Create Landing Pages Distressed Properties Im currently in touch with a friend who is a Real Estate investor and I talk with him and compare info as I watch videos like your. He also attends Investment seminars. He buys property for resale after fix up FSBO. You have a great base for learning and you are gifted in using simple easy to understand language to explain Real Estate. Thanks for being there. Young people need to know about what you teach and I for one believe the word must go forth to this generation. By Austin Netzley 2. Set Your Goals 4 Comments Inspiration Related: What You Need to Know about Real Estate Partnerships Step 1: Determine the After Repair Value (ARV) $15.55 In my bird-dogging, I’ve created a list of addresses of vacant homes/homes I think are vacant and I would like to reach them on the phone. 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