Assignment Of Contracts Arkansas
No no no...you are not acting as an agent. You have got to put that out of your mind. Don't let those real estate agents tell you that you are acting as an agent and it is illegal. That will be the first thing you encounter is negative realtors who totally do not understand investors and wholesalers. They will try to tell you it is illegal but they cannot prove it cause it is not illegal.
You will be called a wholesaler. You find properties people want to sell...you and the owner will come to an agreement on a wholesale price on the home...they (the owners) will be aware that you are going to resell your interest for a profit to your investors....you put the house under contract for 30 or 60 or 90 days..whichever you can get...the more days the better chance you have to sell it.....
Once you have the house under contract you now have an "interest" in the contract...not the house cause you don't own a house you own interest in a contract on the house....you find your end buyer and sell your INTEREST in the contract for a price. You sell your INTEREST in the contract for $$$$ to your investors. Make sure you have a nice list of investors to shop the houses to.
I think to do Matts 25:1 you need to go in with much confidence and really know what you are talking about. Be assertive and take control. Tell them straight up you are looking for a very aggresive realtor who doesn't mind putting in lot of lowball offers...and let them know what all you expect. Take control!
Good luck and don't let them realtors bully you. You are a wholesaler and there is nothing in the world illegal about it. The main thing you must remember is disclosure...always make sure the seller and the end buyer know that you are making a profit. You title company will want to make sure everyone is aware you are making a profit.
That was my question too...I have just finished Profit Now and I am so excited to begin the journey, but I can't help but thinking that in the most attractive approach to me, the reassignment technique, that I am basically acting as an agent, yet without a license in NY state. That is a little unnerving.
Any more advice? I am especially concerned about Matt's 25:1 concept. Not sure how I would pitch it to an agent to basically come work "for" me, doing most of the leg work and not knowing how to promise that it will be a win-win for us both...any advice?
Staying positive, just some intial "bumps"!
Thanks to all!!
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
Parties: EQUITY RESIDENTIAL | API CAMERON PARK LLC | ARCHSTONE DELRAY BEACH GP, LLC | ASHLEY LAKE, INC | ASHTON LIMITED PARTNERSHIP | EC-MARTINE, LLC | EQR (2000) BALLPARK LOFTS LLC | EQR (2000) HARBOUR POINTE LLC | EQR (2000) Master Limited Liability Company | EQR-Acquisitions GP, LLC | EQR-BOND PARTNERSHIP | EQR-ESSEX PLACE FINANCING LIMITED PARTNERSHIP | EQR-EWR GP, LLC | EQR-FANCAP 2000A LIMITED PARTNERSHIP | EQR-Fancap 2000A, LLC | EQR-FANKEY 2004 LIMITED PARTNERSHIP | EQR-Fankey 2004, LLC | EQR-Fanwell 2007 GP, LLC | EQR-FANWELL 2007 LIMITED PARTNERSHIP | EQR-HERONFIELD, LLC | EQR-HIGHLANDS RANCH, LLC | EQR-REDMOND RIDGE, LLC | EQR-RID SP, LLC | EQR-S T, LLC | EQR-SAGE, LLC | EQR-Sombra 2008 GP, LLC | EQR-SOMBRA 2008 LIMITED PARTNERSHIP | EQR-UPTOWN SQUARE, LLC | EQR-Wellfan 2008 GP, LLC | EQR-Wellfan 2008 Limited Partnership | ERP Holding Co, Inc | ERP Operating Limited Partnership | Lexford Partners, LLC | QRS-Bond, Inc | SAVOY LLC | SCG Atlas Holdings GP, LLC
Law Firm: Neal Gerber;Kirkland Ellis
Document Date: 10/26/2015