Updated over 7 years ago on . Most recent reply
How to obtain an assignment contract
Hello BP community,
I was initially getting my degree in the medical field but I hit a bump in the road and decided to switch lanes and invest all of my time into real estate. I have been reading and researching real estate for two years now, but I still have a few question about wholesaling. I have been to a couple of investor meetings and the topic of wholesaling gets brought up almost every time. Since I don't currently have an agents license I am considering wholesaling as my "in" into the game. From what I've read in the forums and have heard on the podcast is that you find a seller who is trying to get rid of their property, and a buyer who is wiling to pay cash for the property. Now this is where I start getting confused, I have yet to understand how to obtain an "assignment contract", which as we all know states that if I do not want to purchase the property I will assign an investor who will. Does anyone know how this process goes down? I currently have an investor, a project manager, and a contractor on board we just need the deals and that is what I am bringing to the table. I just need to understand and figure out this process so we can get the train rolling.
If you could provide me with any information I would be so appreciative.
Thank you all in advance!