Assinging Non-assignable contracts

[Alisha Feaster]

Hi, I'm new to wholesaling and I'd like to make money from houses listed on the MLS. In New Jersey there is a non assignment clause on the NJ standard contract. I looked it up and and it says that I can add an addendum with my additional terms (Inspection period, assignment clause and etc.) Will adding an addendum to this contract protect me completely as wholesaler?

[Natalie Schanne]

@Alisha Feaster - when I started out in 2017, I struck through that non assignment clause on the standard contract and I wrote that I was buying it in my LLC and/or assigns. I was thwarted on several of the short sales I attempted though (bank appraisal came in high so the contract price I had signed, they wouldn't sell for. Ironic because that's exactly what it sold for at sheriff sale 6 months later, but I digress)…

I would do the LLC play where I buy it in a fresh LLC and include a clause that I can change it to another entity or LLC for convenience with all other terms remaining the same.