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Updated about 9 years ago,
How should the assignment contract be worded to protect me
Hello BP....
I was wondering about the assignment contract and how should it be worded to protect me if the buyer backs down or whatever else that can go wrong. I may have my first deal on my hands. A multi-family 5 unit fully occupied no repairs needed deal. $750,000 cash deal, cap rate 13.2%....I'm thinking a $10,000 should be for myself which brings it to $760,000....Annual: income $114,288...expenses $15,200....noi $99,088 (what is that)
Is this a good deal for a buy and hold / investment property? HELP!!!