Difference between Wholesaling & Assignment

[Francis Figueroa]

I never totally understood the difference between wholesaling & assignment. Some say they are the same, others will exclusively do one or the other, which would lead me to think they are more different than first imagined. 

Any resources or videos (outside of youtube) would be greatly appreciated. 

[Jerryll Noorden]

An assignment is part of the wholesaling strategy.

You get a property under contract below market value, let's say property ARV= 400K.

You get it under contract for $150KK

You ASSIGN that contract to a cash buyer for $250K.

Your assignment fee would be (roughly) $100K

The assignment is part of the wholesaling strategy.

1. You find a property 

2. Negotiate a price significantly below market value

3. Assign it to a cash buyer for a number higher than that you got it for

4. Close and during closing you get the assignment fee which is the difference between what you got it for and sell the contract for.