assignment of contracts - Posted by brock cannon

Posted by John Merchant on June 30, 2006 at 10:06:46:

No problem but I’d make it clear, in writing, on that P&S Agreement and Assignment form, that you’re merely assigning your rights as a buyer with a contract…for a profit…and that you’re not taking a real estate commission as you are not a licensed agent.

I know a young couple on Seattle area whom I’ve heard is making well over $100k annually doing just this.

They’ve developed a very workable system in hunting down, finding, and getting good RE under contract…then advertising it to other REIs and selling their position for a profit.

assignment of contracts - Posted by brock cannon

Posted by brock cannon on June 07, 2006 at 12:51:05:

I have done an assignment of contract once before in my career where I assigned a small rental property to my friend under the same terms, and he gave me no money, only the re-imbursement of earnest money that I had previously put down.

I noticed on the assignement addendum that there was a place for an assignment fee. I am wanting to find a below market property, assign it for say 3K to another person. Anything that I should know before trying this?