I read "profit from real estate right now" and "be a real estate millionaire" and have a question about assignment deals. I'm ready to get started in real estate and have already tried various strategies that Dean talks about. (when I say try I mean I have made offers to home owners) One thing I am confused about is assigning a deal to another investor/cash buyer. For example, if I offer 20,000 to buy a property and want to assign it for 25,000, will the buyer know of my 5,000 profit? The way I understood the book is that I simply write up a contract with "and/or assignee" and then I can assign the deal. Wouldn't this mean that the original purchase agreement would say 20,000; does that mean a new agreement is written up for 25,000 between the new buyer and seller? I am confused because I think I am suppose to use the original contract that says "and/or assignee" for cash buyers. I understand the difference between using the "Instant Equity Exchange" and "Assignment". I just need help on the "assignment".I hope this makes sense. Any feedback is more than welcome. Thanks in advanced!
Hello to everyone,
I read "profit from real estate right now" and "be a real estate millionaire" and have a question about assignment deals. I'm ready to get started in real estate and have already tried various strategies that Dean talks about. (when I say try I mean I have made offers to home owners) One thing I am confused about is assigning a deal to another investor/cash buyer. For example, if I offer 20,000 to buy a property and want to assign it for 25,000, will the buyer know of my 5,000 profit? The way I understood the book is that I simply write up a contract with "and/or assignee" and then I can assign the deal. Wouldn't this mean that the original purchase agreement would say 20,000; does that mean a new agreement is written up for 25,000 between the new buyer and seller? I am confused because I think I am suppose to use the original contract that says "and/or assignee" for cash buyers. I understand the difference between using the "Instant Equity Exchange" and "Assignment". I just need help on the "assignment".I hope this makes sense. Any feedback is more than welcome. Thanks in advanced!