Posted by Redline on January 19, 1999 at 10:56:17:
It’s down below on a post by Jackie entitled “Assignment Contract”. You can’t miss it!
RL
question for Jackie in Dallas about assignments - Posted by Matt B
Posted by Matt B on January 19, 1999 at 07:17:37:
Thank you for your assignment contract first of all. When I call my buyers and they ask the price for the property that I am flipping, do I give them a price which includes my assignment fee, or do I want to tell them that X is the price of the house plus Z for the assignment fee equalling Y? What is the best way to handle the fact that my profit will be disclosed one way or the other? Is this brought up at initial contact, or at some other point down the road? Thanks for all your great help and advice.
Re:Assignment Contracts - Posted by John Estell(Denver)
Posted by John Estell(Denver) on January 19, 1999 at 09:58:07:
Can you share this assignment contract with the rest of us newbies. I would love to have something like this. Thanks.
Re: assignments - Posted by Jackie in Dallas
Posted by Jackie in Dallas on January 19, 1999 at 09:13:53:
You could go either way…but I usually just tell them the terms of the contract and how much I want for the deal. They are either in or out THERE IS NO NEGOTIATING ALLOWED! You need to stay in control, especially when you are first starting or everytime you have a contract to flip the investor will think they can get your price down - don’t let it happen.
Your contract may not be for all cash - it could include some cash now and the seller carrying back financing and that makes it an even more valuable contract. So explain the details of the deal and tell the investor how much you want (within reason) for your contract.
Your emphasis should be on how much THEY will make when the house is fixed up - NOT how much you are making, it’s peanuts in comparison. The amount you will make is right there on the assignment contract - but don’t sweat it!