Wholesaling contract.

[Brian Harding]

Hey guys. I know you've all heard questions about 'Where do I find real estate contracts for this or that?', so I apologize ahead of time for the repetivity. I found the wholesale contracts in 'Resources - Fileplace', but what I'm having trouble understanding is what information goes where on these contracts. For example: I wanna wholesale John Smith's house at 100k$ to Billy McDonald for 105K$ and make 5K off of the deal. How would I put that on a contract?

It would be super awesome if somebody could possibly send me a one pager with fields filled out with fake names and fake amounts so it would be more clear to me.

I'm new to this. I really hope I'm not asking too much for a newbie on the forum :)
Thanks in advance everybody!

[Ned Carey]

Brian,

Think of assigning a contract as "selling" a contract.
When Wholesaling you are not selling a house. You are selling a contract.

There should be two contracts. One with the original seller. The second one is an assignment contract with your end buyer. This second contract essentially tells your end buyer "I am selling you this contract I have for 123 main st."

If you look in the resources file place, there is an assignment of contract. It should be pretty clear just fill it in. FYI the assignor is the person doing the assigning (you) the assignee is the person receiving the assignment (buying the contract - your end buyer)

Good luck - Ned