Getting paid on Assignment of Contract

Getting paid on Assignment of Contract

I just finished "Profit From Real Estate Right Now!" and I am doing my due dilligence. I have contacted two attorneys to discuss the legality in Oregon. Today I bought some Bright orange paper so I can make up some flyers to attract buyers and when I get paid I am going to set up my pre-recorded message. I have two questions. First, will I be required to work under an LLC or some other business entity in order to legally pay taxes on my profits? ( I may just have to consult an attorney for this but any input would be appreciated ) Second, I understand that I get the "Purchase Agreement" signed and add and/or assignee after my name. Where is my profit? Do I simply lock up a price, get it sold for more, and the attorney will automatically pay the difference to me? This is what I'm thinking, but I didn't see any specifics on this in the book.

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Thanks, Ben


You have your PA with the

You have your PA with the seller for say 50k, You then use your Assignment of contract with your end buyer for 55k, after closing you get a check for 5k.
good luck


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