OfflineI have an investor interested in doing a deal on one of my properties. I have the property locked in for $250,000.00. My assignment fee is $10,000.00. The investor wants me to assign the property over to him and find and end buyer for the retail price. He is offering 100% owner financing at 6 1/2% to an end buyer. I will receive my assignment fee when the property is settled with the end buyer.
has anyone ever done this before? This is all new to me and I am not sure how it is even done. can anyone educate me?
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
http://realwholesaling.com FREE wholesaling tips and resources!
To your success,
Carol Stinson
Sounds like The Exact same Buyer I had , Wanted me to do All the Work , I'll Let you know You need to tell Them to Go & get Their own Buyer Or Else Don't do nothing with them at all .
What happened with this deal? Did you let your investor fiance you and get your wholesale fee or ? Carol, you've come so far in your re career already.
has anyone ever done this before? This is all new to me and I am not sure how it is even done. can anyone educate me?
HYSTERICAL! I had no idea what I was doing here.... the deal did get done but not this way. I actually wholesaled it to another buyer.
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
http://realwholesaling.com FREE wholesaling tips and resources!
To your success,
Carol Stinson
Didnt read all of the post..so someone may have suggested this. You could have always sold him your assignment for $10k and let him have the deal. If he was able to owner finance for the end buyer eventually, he should've had the cash to buy you out.
Glad to see you got it done! You Go Girl!
Best Wishes.
Shay