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Updated about 9 years ago,

User Stats

23
Posts
8
Votes
Ron Cole
  • New York City, NY
8
Votes |
23
Posts

How should the assignment contract be worded to protect me

Ron Cole
  • New York City, NY
Posted

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!!!

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