In a real estate wholesale deal, a wholesale assignment contract is a tool used to ensure that the deal finder gets paid.
What is a wholesale assignment contract?
Finding and creating real estate wholesale deals is an awesome way to make $20,000 – $40,000 every month.
In order to do that, a person who is essentially a marketer would:
- Find motivated sellers from lead sources such as unwanted inheritances, pre-foreclosures, tax defaults, expired mls listings, for sale by owners etc
- Put a house with an accepted offer under an assignable contract with a purchase price = 65% of the after repair value minus repair estimate.
- Then assigns the contract to a end buy who now pays a fee for finding the deal.
This contract and its content varies from state to state. Therefore the best place to find the appropriate one is at your local rein (real estate investing association)
Gurus and coaches may have generic version embedded inside their course.
But it’s better to find the one use consistently by asking active real estate investors and wholesalers in your local market.
That can also mean that you have to offer to work with or for existing investors for free.
The bottom line is that a good relationship can become handy here.
Even as you build relationships by bringing value to them, you can download or send the PDF version of the whole assignment contract to yourself by email from the investors computer.
It’s not stealing? It’s friendship.
In my opinion, finding a wholesale assignment contract is the least of your problems.
Your focus should be in finding deals, finding motivated sellers, finding and building a list of end buyer.
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ABOUT YOUR HOST ::::|
Ola “Tux” Abitogun is the Creator of myEmpirePRO. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and father to their 2 Boys. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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