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 please help. also how would i present it to a invest w/o them stealing it from under me??
first things first. you have to understand how assigning works. all your doing is selling the paper to an investor. you contract the property from a lender/seller and you turn around and assign it to investor, buyer, etc.
second, you can’t be greedy in this market, no offense.
if you are just assigning something your fee should not be higher than the investor. for example, if you are willing to give the investor 10% profit for lending you money your fee should only be 3% of what he’s getting.
as i said you’re assigning (you’re just finding properties for investors) and you don’t own the property, it’s only on paper, you’re selling the paper, not the property.
hope this helps :biggrin
It’s really more like:
you find investors who are looking to purchase & you find out exactly what his/her criterion are
you look for what they want
make (sometimes) a lot of offers
contract to purchase
“sell” or assign (for a fee) the contract to your investor/buyers
(do not waste your energy worrying about other investors stealing deals out from under you)
Chris
Why should we not worry about investors stealing out from under us? We all that can happen and on this site we have been warned not to ever use that investor again, of course.
Also, when such things as legal real estate contracts for assignments deal with money to person assigning the contract as well to investor, why are there no agreements binding that protect person assigning these contracts. We make a living too, you know, and we don’t need someone kiping that out from under us - so why isn’t something available for us all to legally sign that puts that investor where he WILL NOT DO THIS OR ELSE, BY LAW HERE WE COME TIME INVOLVED OR NOT?
Our minds need to be put at ease.
bjean
I love everyone’s help on this site.