OfflineHey everyone I'm just starting to get my feet wet with everything. I'm trying to get some initial money so it will be easier in the future to actually own properties. I just had a few question on this topic of "Assignment of Contract" I just want to make sure I fully understand it's entirety. First of all do I actually need to sign a contract on a house that I find before I know 100% that I have a buyer? Like would it be wise to show a buyer a property that I do not own or have under contract? I was thinking they would bypass me after finding out the info and going right to the owner. Does this method tend to require an attorney with all the contracts or any specific businesses which will have to intervene? Also would you guys recommend any websites or methods where I could find a lot of properties and/or buyers whom would be interested in assignment of contracts? I was wondering if there was a good program or website where I would be able to come across many different types of contracts which I could use for this kind of business or more official real estate business contracts. Sorry about all the questions I'm just a bit shaky about all of this and would prefer to avoid any drastic mistakes my first time through =P Any answers will be greatly appreciated, Thanks!
Starting on Assignment of Contracts
Posted on: Tue, 10/06/2009 - 01:26
It wouid be in your best interst to have the property under contract befor you show a buyer the property, or they (buyer) could just go to the seller and buy it right out from under you.Take a look at Dean book Profit fron real estate right now and there is alot about assignment of contract. Good luck and don't give up!
Thank you, any other info on methods or websites I should hit up?
One thing I would suggest is attending a real estate investment club. You can use this web site to find an investment club in your area, creonline.com. I would also do a web search for real estate investment clubs in your area. This is a great place to go to find investors and properties investors are selling.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
The cheaper you get your properties, the easier it will be to get rid of it. I was very reluctant to sign a contract before I had my buyers. However, in order for me to work effectively, I need to be crunched!! So, I locked up the property cheap...cheap....so cheap I was embarrased to give that offer. But, they didn't laugh at me, they didn't cuss me out, they counter offered at 5,000 more than what my offer was, and all together I got a house under contract for 10K - FMV is 65K. I have to market this house this weekend and I will be marketing it to cash buyers only for 25K. That leave me a profit of 15K. I don't think I will have any problems moving this property at all!!!
Destrie
Destrie
Failure Is Not An Option