Hey guys, quick question. When filling out a contract with a home owner, and not being completely sure on if you’re going to flip the property yourself, or wholesale to another investor, what do you use in the “name” section? Is some like “Your Company’s LLC or assignee” good enough, or is there a better way to do it?
thats fine, besure to add that your contract maybe assigned. many title companies will have the doc for you. make sure the home owner initials
Most times its best to just sign your name without the “and/or assigns” which is an easy indicator of a inexperienced or new investor. You want your contract and deal structure to smell, look and feel like a regular deal on the surface especially when there are attorneys and Realtors involved.
How you get around this is by adding your addendum. This is key. This is where you will put that the buyer reserves the right to assign the contract to another entity for either joint venture with another investor, asset protection or minimize tax implications. The addendum over-rides what is in the main agreement.
By always having an addendum that contains your clauses, you have the ability to turn any contract into your contract.