Assigning a contract is (in theory) a pretty simple concept. Successful wholesalers are able to generate income by purchasing large amounts of properties and then selling their high quantity of inventory for a profit. When I explain the process to a potential Seller, it looks something like this: “Thanks for contacting us! Conclusion . If you ever come across an individual who just doesn’t get it – this video offers a fairly straightforward explanation. Unfortunately, there are all kinds of obstacles that can get in the way of closing (clouds on title, funding issues, inspection issues, you name it), so you don’t want to get too excited about this money until the deal is actually closed. We get it, too much advertising can be annoying. Since you’re not the actual end-buyer, it’s not imperative that you learn every intricate detail about the property you have under contract. If the investor was able to purchase the real estate … – it didn’t, When I’m not very confident about the property’s true market value, When there are potential problems with the property that I can’t get resolved, If I don’t have the money to invest and buy the property outright, The seller isn’t willing to lower their asking price to my liking (but it’s still a good deal, with enough profit margin to be a good deal for someone else), The property isn’t local and I don’t want to take on the liability of ownership, You won’t be able to make any improvements to the property (because you don’t own it and it’s not yours to improve), You’ll have a shorter window of time to get the deal done (because your contract won’t last forever), The closing process will require more attention to detail than the simplicity of a cash closing, Your buyer MUST have the ability to pay all-cash (because most mortgage lenders aren’t willing to deal with the complexities of an assigned contract). My goal is to get a lot more experience with this technique because there are PLENTY of times when assigning the contract is a much better fit than buying a property outright. If you’re serious about adding wholesaling to your growing repertoire of real estate investing strategies – the opportunity is sitting right in front of you. Finding and creating real estate wholesale … So, before you swear off buying properties outright, remember that every deal has different considerations you need to think about. Once both items are received, the property will be reserved in your name and we will contact <
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