Updated almost 5 years ago on . Most recent reply
$100k assignment fee
Hey guys, I am 19 years old and I currently have a property under contract for $820,000. The ARV is $1.3 million. My issue is, I want to make a $100,000 assignment fee. I already calculated that if the cash buyer buys the property for $920,000, he will still make a 32% profit if he sells for $1.3 million ( mind you, the ARV could be more). The issue is that I do not want the SELLER (not the BUYER) to know I made $100,000 at closing. I know that the title company can make a sellers side HUD and a buyers side HUD. But to be clear, I would love someone experienced to help me out with this huge transaction. I am aware that I can do double closing but in my state, which is Florida, you need a transactional funding company to fund the deal. They can make as much as 1%-3% off the loan and I will also pay closing costs. Plus, I do not want to hide my profits from the buyer, because I want to do future business with him. Thank you so much to whomever took the time to answer this.
Most Popular Reply
#2 Contractors Contributor
- Severna Park, MD
Ok I am a pessimist , its the guys first post , he says he is 19 years old , and has a wholesale contract on a property for $ 820K . AND he wants to clear $100K on it .
it just doesnt sound right to me .