I met with a seller this afternoon that I have been working with for about 3 months and did another walk through on the property. When I first met with the seller she not not very motivated and would not accept offers low enough to justify the deal. I called her yesterday and now she is very motivated. I'm estimating $20,000 in repairs and an ARV of $90,000. So my MMP is $33,480 ($90,000 x .65 - 20,000 - Assignment Fee $5,000. The assignment fee will be paid to me by my buyer to me when I assign him to contract.
I'm using an and/or assigns clause in my offer to be able to assign it to my buyer. I have already told the seller that I may not be the one actually purchasing the property and assign the contract to someone else who will take over my position and close on the property. She said that's fine. She just wants to sell the property.
I met with a seller this afternoon that I have been working with for about 3 months and did another walk through on the property. When I first met with the seller she not not very motivated and would not accept offers low enough to justify the deal. I called her yesterday and now she is very motivated. I'm estimating $20,000 in repairs and an ARV of $90,000. So my MMP is $33,480 ($90,000 x .65 - 20,000 - Assignment Fee $5,000. The assignment fee will be paid to me by my buyer to me when I assign him to contract.
I'm using an and/or assigns clause in my offer to be able to assign it to my buyer. I have already told the seller that I may not be the one actually purchasing the property and assign the contract to someone else who will take over my position and close on the property. She said that's fine. She just wants to sell the property.