Assignment contracts/Title companies

[Jessica Martin]

So Ive read finding a title company to do assignment contracts can be difficult and I just got my first taste of that... The first title company I called had no clue what I was talking about. The second at least asked questions to find out what I was wanting, but came up with questions I didnt have answers to since I am new at this and almost made me feel uncomfortable because she was acting like what I was wanting to do may be illegal, but from everything I've been explained, it is legal... why are title companies so puzzed by this? 

Someone told us that of all people we are dealing with, title companies are the one you can be completely honestin telling them we are new and having no idea how the paperwork works.

So I was honest with the lady and told her I was new to investing. She was asking questions like, "Will you be making money off of this deal", "How much", "So the poperty will never really be in your name"(Explained I do not want a double close),"Are you are real estate agent""When I report this to the IRS, how do I explain to them the difference in the price between what your buyer pays vs what your seller is getting". That last question really stumped me. I don't know how that works... All I know is Ive been told this is legal and I do not need a license because Im not selling real estate, Im selling a contract and my rights to purchase... Can someone help me on this... I want to MAKE SURE this is legal. I mean, it's got to be if so many people do it for a living. It just surprises me that title companies are so confused by this...

[Guy Gimenez]

@Jessica Martin 

If you're doing this on your own, without daily guidance by an experienced investing partner, you will most assuredly make mistakes. No offense, but just jumping in, as is often recommended, is as dumb as doing surgery on yourself because you read a medical book. You can get a boat load of information on this site, but no one here will have liability if the information is wrong (or misinterpreted by you) and they won't lose a dime if you fudge the deal up.  

Jessica, do yourself a favor and get a partner to help you for the first 5 to 10 deals. A partner will take a good chunk of the profits, but he/she may also save you thousands of dollars in legal fees, years of muddling through all the issues involved in investing and ultimately kick start you investing career in a profitable manner.  Yes, education is expensive but the lack of education can, and often is, financially devastating.