Hello BP members,
I am fairly new to real estate. I have a non-traditional idea for real estate investing. I am interested in investing in “Assignment of Rents by Lessor” agreements.
If you are unfamiliar with them, basically, I would be giving the property owner a discounted lump sum for the right to collect all the rent payments from a tenant. The property owner is responsible for the full amount of the lease, and all the traditional landlord responsibilities.
Has anyone out there tried this before? My main concern and the catch is that the market for such a business is limited. My understanding is it can only be used by a property owner that doesn’t have a mortgage due to the assignability clause of a mortgage.
If you have tried this, what suggestions do you have?
Thanks,
Andy
