Need help with 2nd deal.....PLEASE!!! - Posted by George(OH)

Posted by phil fernandez on June 11, 2000 at 16:14:34:


You could put a clause in your land contract making the $10,000 note assumable. Or just wrap your eventual buyers mortgage around this $10,000 land contract or lease option the deal to your end user.

Need help with 2nd deal…PLEASE!!! - Posted by George(OH)

Posted by George(OH) on June 11, 2000 at 14:33:30:

I have negotiated a deal with the owners of a house where they will take 4K down, 10K @ 10% over 4 years. I know this is a good deal, but how do I flip it? I know I can’t do a double close, because there wouldn’t be a closing until the balance is paid. So how do I assign this deal? The couple, who own about 25 other properties, did not even mention the signing of a purchase agreement. They only said that we would sign a Land Contract.

My question is, how do I flip/assign this deal to another investor?

Thanks in advance,