Help With Some Terms!
I thought I knew what the terms meant but after going through some topics it appears I don't know as much as I thought. Looking at wholesaling, what does it mean to "assign" and a contract?
What are the steps involved so I can get started on this. An example would be if I found a deal on a property for 90K and assigned it for 95k to another investor. What does this situation involve? Please help, I want to get started on investing without the use of my money.
Thanks :-?
Good question. All that simply means is that you are assigning your rights in that contract.
For Examp. if it is a Purch. and sale agreement you are assigning you are assigning your right to purchase that property. With that you have another document called you assignment contract which has the increased amount plugged into it so you are not assigning your contract for free.
Lastly just for sake of argument I also sign a purch and sale agreement with the person taking the deal from me for the increased amount so everything is clean.
Sounds like you have some good things going on, keep at it! Call if you have questions.