I've been able to assign 3 deals successfully and got a couple listings as well. 

If you are assigning the contract to an investor tell them the truth that you find deals for investors and you are going to assign the contract to them for a fee.

@Kevin Blanchard I do not agree with your statement “Greenville, Lincoln Park, Bergen-Lafayette, etc are not the best area”.

You are considered "disqualified person" to your 401k and assigning this contract to your 401k would be considered "prohibited transaction":https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-prohibited-transactions The proper steps would be:1) Establish and fund self-directed 401k2) Find and purchase investment

Thank YouHi Justin, commercial lenders will be looking for the following but subject to lender and product-specific: (There are niche lenders)Investor Only - loans to Individual, LLC, Corp and Limited partnershipAppraisal of propertyUS or perm resident (some will lend to foreign nationals at 65% LTV and higher rates)3 mos PITIA and closing costs (some will use loan proceeds for this if within LTV thresholds) 3 mo bank statement for proof30-day ownership seasoning on refinancing (some 30 days to 90 days)No tax returns, DTI calculations or income qualification (most)LTVs up to 80% (some sweet spot is 75% for cash out)DSCR 1.0 -<1.3 (some will look at this but some won't sweet spot is 1.2)Credit 650+ (credit will impact rate and LTV)Min Property Value $75K (Higher min in certain areas)Lease or unleased (must be rent ready .. rate may vary)Min Loan Amount (lender specific rates will vary on amount)5/1 ARM, 7/1 ARM, and 30-yr fixed-rate structuresNo sourcing or seasoning of funds (some will ask for 30-60 days seasoning)Must own primary home (lender specific some do some don't) 

But, I also don't view that statement as a negative.  

@John Thedford @Nate Marshall in my state assigning a contract is legal as long as the seller is aware.

I obviously plan to request detailed POS reports, purchase receipts, bank statements, payroll reports, tax returns, and all the rest, but I'm not sure I can dig into all that within 20 days.Thanks in advance for any guidance!

Hey Guys,I am a new wholesaler and I had a really quick question about assignments.

This spread is the money they make and is usually referred to as the “assignment fee”.