I was looking to get into Assignment of contracts ,to build up some extra start up $ for a fix and flip, and I kneed some info on the best approach to get started. Thank you for any advice you could lend.
Howdy Dan:
This question has been asked 100 times in the past. Try looking at previous posts
Hey Dan:
I have gone to the auction on two occasions and won highest bid and flipped (assigned)the contract without closing on it personally.
The trick is it’s easier than closing on it yourself and you get your cash now and the other guy has to deal with it , I can only tell you that you must get the referee and the banks attorney’s consent before you agree to this radical move, they usually are cool with it because if the other party fails to close he could loose his cash or either it begins to get expensive…
Math Ex: Sold for $125K
Deposit $12.500.00
Assignment $32.000.00 cash
profit $20.000.00
This is easy trust me you should have a target before you buy.