All Forum Posts by: Sean Wilt

I'm clear on the how to write the contract to the seller to allow the option to assign the contract.  What I am not clear on is when I find an investor that is interested in being the assignee, how do I write the contract to them?

Is it a completely separate contract to assign the deal over?  so in the end there are 2 contracts? (one between me and the seller and another between me and the assignee?  Also, How do I disclose the assignment fee to the assignee?  For instance, if the agreen sell price on the property is $100k, Is the contract between myself and the assignee just for a straight say $5k?  and then I'm out? 

Hope this makes sense, just starting out!

Thank you Wayne!

Hi guys,e

Thanks in advance for all of your help!  We are just starting out but are have several years real estate and finance experience so while we hope to get our first deal soon, I don't consider us total newbies if that makes sense :).

We found a nice property that we think we could do a wholesale assignment on. The spreadsheets all make sense, etc. My question is this is an REO property and the agent's instructions are requiring POF or Renovation loan to be attached with the offer. Since we would be assigning this to an investor, we would not have those items right? so.... is it ok to call the agent prior to maknig the offer and tell them our strategy and that our investor would ultimaely provide those items? or is this not how this would be done. We dont' have the investor yet, as we would of course need to know the agreed purchase price via contract to present to them for consideration.

Am I thinking of this correctly?  Thoughts on how to proceed? 

Thanks Aaron, yeah, that waas what I was thinking too so will give it a go. 

Hi,

I'm in startup up mode and mostly putting together my business plan, team members, analysis tools, etc.  I was looking at Houseflippingspreadsheet.com.  Their analysis tools look really great but of course come at a price - especially for the more inclusive versions with accounting spreadsheets/etc.

Any thoughts on the best way to go?  I have a deep finance background and am pretty adept at excel on my own so wondering if it's worth it.  Seems like one of the best use cases would be the report generators that look clean/neat/professional to present to investors.  I will be starting out with hard money lenders so thinking the better my presentation to them, the better?

Thoughts?

Thanks!!!

Sean