Hello everyone
I’m a new bee as u can tell. I think i have a good understading about assignments. Es. I find a property i think is a deal. i contact the owner to get some numbers from him. if it’s a deal i try to find a investor who will buy it. BuT in order from me to do an assignemets does the property or deed have to be in my name or something??? or it’s it like the finder…idk :banghead please help. also how would i present it to a invest w/o them stealing it from under me?? :help
wrong area i do i delete???
Get the deal under contract. Then assign your purchase contract to your investor for a fee. The investor closes directly with the owner in your stead. Don’t deal with an unscrupulous investor.
Don’t worry about being a newbie. It’ll only last as long as you want it to last.
Anyway, I have little experience but, I’m focusing on assignments, too. Basically, all you’re doing is finding an agreed price with the seller, putting their property under contract, and selling the contract to an investor for a fee ($5k-20k). So your name never goes on the deed. You’re just the middle man. The boardgame, CASHFLOW 101, sort of simulates the assignment fee when you pick up an opportunity card and sell that card to another player.
You won’t find many investors who steal deals from each other. You may make some money on one deal but, you risk missing out on other deals because no one would want to work with you anymore. You lose a lot more by cheating. And I’m not just talking about $$$.
Find a mentor who could go over a contract with you. A good contract will allow you to tie up the property from other buyers and will also allow you to walk away if the deal isn’t right.
I hope this helps!
thank you so much CZR and ruben for your advice. I’m just gathering info before i make a move. i’m very neverous and i’m trying to weigh my options. thank u
just like using other peoples money to make a commensurate with experience ( commission on the sale = referral ) you ae are softchained to the agent for a kickback so on to the next deal and the next so on so forth… :biggrin
Don’t be nervous realesinvest. This is the point where newbies choke and they go into information analysis mode and never complete their first deal. Get the process together and implement it! A great quote from somebody: “You don’t have to get it all right, you just have to get it going”
thank u lamar and shayshay. Lamar u’re right about getting stuck in the info mode. i’m moving on hopefully a deal with in the next two months should give me enough time. thank u