All Forum Posts by: Jacob De Los Santos

Thanks for replying! I figured it all out. I closed my first deal just a couple of weeks ago and working on new leads now! I learned so much just by doing. Are you doing deals in the reno sparks area?


Originally posted by @Marisa Aceves:

@Jacob De Los Santos It's been 6 months since this post. How are you doing since then? When it comes to contract assignment, you don't go to an attorney for them. Contract assignment is when you already have a contract and are looking to assign it to someone else(as long as you have the clause written). It's basically another term for wholesaling. Find a seller, put it under contract, and find a buyer to assign(sell) the contract to.

As @Grant Rothenburger stated, there are a lot of contracts in the files section. Have you looked them over? Being 6 months in I hope you have!

Also, regarding @Davin Sundvick post. It is really important for you to start looking at adding key individuals to your team and one important being a Title Company. You also need to start finding investors that would look at even working with you. 

Originally posted by @Marvin McTaw:

@Jacob De Los Santos I've got to second what @Roland Paicely said. Don't over complicate this and don't focus so much on the mechanics. If you're following the direct to owner/seller model, focus on listening to them and providing value. Know your numbers when you go in terms of what you can offer to buy the place for but don't let that be the limit to the value of what you can offer them. 

Maybe they do actually need to get work done. Refer them to a contractor and get a referral fee. Maybe they should list with an agent. Feed them to an agent and have them either pay you a marketing fee, get you MLS access or have them help you in some way to help you grow your business.

Maybe they should just keep things as a rental and they really just need a good property manager. Find one and introduce. 

Focus on solving problems and creating value for sellers. After you've done this you can find ways to capture some of the value in the form of economics for yourself as well. 

Technically, every contract is assignable unless the contract specifies it can't be assigned....  However, just to keep it transparent, You might want to add a clause to the contract stating "Buyer might assign this contract to another party" or something along the lines. You can also write  under buyer's name, "your name and/or assigns", which just means you might assign the contract. 

You don't need an LLC to wholesale..at least not when you're just starting..