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Updated about 3 years ago on . Most recent reply

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Kennith Brandon
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Help With First Assignment Deal

Kennith Brandon
Posted

Hello,
I'd like to get some help with assigning my first Wholesale Deal. Here's a copy of the description of the property that I use:
$115K Assignment (Negotiable)--Cash Buyers Only!: {Hopewell, VA 23860} 4 Bedroom 1.5 Bath 2110 sq. ft (Livable Space) W/ 1500 sq. ft Basement Including 2 Large Bonus Rooms. Home in As-Is Condition. Appraised (Comps Included) and Inspected; I Can Provide The Reports To Potential Buyers. ARV: Approx $300K--Serious Inquiries Only--Closing 12/9/21.

Thank You

If you can help with some advice with assigning this deal tomorrow, please let me know--I'd be very appreciative.

Is there a Wholesale Only Platform on which to post?

Thanks Again

Most Popular Reply

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,582
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

The ad makes no sense. Are you asking for a 115k assignment fee or are you selling the asset for 115k? And you are immediately creating leverage on the buyers side by saying negotiable. Why do you have a price if it's negotiable, you are just asking to be lowballed. Saying serious inquires only is a waste of time. Don't get into wholesaling if you want serious inquiries only. That will turn off some people who realize you don't know what you are doing, but still want the cream of the crop to come walking in. Why do you have a closing date set?

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