We just signed our first assignment on a wholesale!
For those of you that follow me you know we have done several deals. We have only ever double closed. We had a property under contract that we had intended to flip. We ended up finding more issues than we were comfortable with so we decided to wholesale it. We ended up taking an offer that would only net us $3,500. (Can't go broke making a profit though right?) If we were to double close it could easily eat 25-30% of the small profit so we elected to do an assignment as we have that provision in our contracts. All the documents are signed and closing is set for later this month. I'll keep you guys posted on anything that surprises me.
Plus that $3,500 covers 2 months of Direct mail. So no complaints.