Hello i am also new to REI and would like to know more about wholesaling. Also a friend and i have immediately found a motivated seller and are thinking about doing an assignment. Would you have any advice?.
I would highly recommend you get a training course to get started. They will give you tons of helpful information. The forums are to assist supplement what you have learned.
In my signature block you will see a link to a free report that I am sure you will find extremely helpful. Other than that you can research plenty of paid courses online.
As far as your motivated seller, they all say they are motivated. Everyone wants to sell, but at what price or percentage of the market value is the question.
How much is the home worth? How did you determine the value? How much are they asking? What is the bottomline you can get it for?
If your not sure of this then you may want to get some more knowledge before you think of moving forward. Another good option would be to refer it to a wholesaler or end-investor as a “bird dog” for a referral fee.
Assignment is just one way to do it, I think that using options are a whole lot more simple and easy. :cool