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September 22, 2021, 10:00:22 pm
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Author Topic: Million Dollar Assignment Fee on a Condo Deal Totaling 600 Units  (Read 2341 times)

Offline Randoskie

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My main buyer is a Realtor Broker, he's the one that just paid me 10 Grand to be a go between on our latest deal. And we also got a half dozen deals in escrow ready to close any minute.
Anyways, His buyers are big dog investors from Los Angeles. He tells me these guys want this huge area of condo's and they have already purchased half of them and are Gung Ho on the rest of them. He then tells me he flipped 17 of them in the last week.
He asks me if I want to get in on the action and it means a 5K assignment fee on each unit. He tells me these investors will buy every remaining unit. I replied in my low key but enthusiastic response, Heck yea.
He gives me an address list of 56+ of the remaining 4 Plexes, I know the area, it used to be a good middle class neighborhood. He goes on to describe how they are all owned separately even though they are clumped in each 4 Unit buildings.
He describes a scene strait out of Real Estate hell, criminal elements have moved in, they have even changed the addresses on the some of the units so the cops can't find them.
Now, I need a plan, I'm gonna knock on doors and leave my door knob fliers, I'm going to run the addresses and get owners names and send out post cards and offer cash for their units.
I got a stun gun, and a 4 Oz container of Pepper spray, but I don't think I'll need it. I'll just dress casual, smiling & friendly.

Now, What is $5,000 times 240 units? Holy Crap, that's $1,200,000 What if I cud only flip half of them or a 4th. Were still talking some serious pocket change here.
Anybody in the Central California area want to give me a hand on this?
Let's make some Money....

Rando





Offline Gold River

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Re: Million Dollar Assignment Fee on a Condo Deal Totaling 600 Units
« Reply #1 on: May 29, 2016, 05:37:13 pm »
 :beer

 




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