Cash In By Next Friday?
Hello all! Thanks for checking out my post.
I've been looking into REI for a while now, and I was thinking about flipping contracts. My goal is to have closed my first deal by next Friday (May 7). I think I have everything set up. I have contracts, I know a guy who can set up my LLC (which I know probably won't help me by next Friday seeing as I don't have any money), and I have a guy who will pay my assignment fee.
The questions I have are:
-What should I look for that would pay off the fastest; Pre-Foreclosures, Trust Deeds, ...?
-How should I set up the deal? What should the contract say?
-What is a good way to come up with a fair assignment fee? I was thinking about either 2.5% of FMV or $5,000 (which ever is greater) but I figured it would take too long to get the property appraised and it would cost money (which I still don't have)!
Thanks, again, for checking out my post! ANY advice will be helpful!
Now, let's go get this money! 8-) [ Edited by Quikness on Date 04/29/2004 ]
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