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Updated over 5 years ago on . Most recent reply

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Assignment contract for begginers ?

Patryk Domanski
Posted

Hey everyone . New to the wholesaling side of business but very keen to learn and very motivated. I have a small budget of 300$ per month which is currently being used on marketing , couple apps and building the brand. I currently have some leads that I am working on. I have no proposed offers yet and I want to have a assignment contract before I make an offer .. I want to do it the right and legal way but don't have the $ in my budget to see an attorney to have one done. . what are my best options ? Or is it best to save up the $ and have an attorney write one up . I want to play this as safely as possibly . Thanks guys .

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,579
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Originally posted by @Patryk Domanski:

@John Thedford I intend on telling the seller about the assignment . I am an honest person I'm not going around telling people I'm closing on their property. Once I have the capital I plan on going into fix and flips anyways . This is just the plan to get in . 

its all moot now IL just passed a new law outlawing wholesaling without a real estate license  IE more than one a year .. so I believe anyone who wants to follow the laws will now get licensed and their broker will help them with the proper contracts until such time as they have the experience and can sit for the brokers exam and be their own broker and only work for themselves. 

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JLH Capital Partners

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