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Articles For Aspiring Real Estate Investors

What Is An Assignment Of Contract In Real Estate?

contracts wholesaling Sep 12, 2019

An assignment of contract is when one party (the “assignor”) has a contract to which they have certain obligations, and transfers those contractual obligations to another party (known as the “assignee”).

In real estate, assigning contracts is an effective strategy to achieve an extremely high return on investment (ROI) for as little capital and risk as possible.

Click below and jump to your section of choice on the assignment of contract:

1. What Is An Assignment In Real Estate?
2. Is It Legal?
3. Why Use A Real Estate Assignment Contract?
4. What Is An Assignment Fee?
5. Who Buys Real Estate Contracts?
6. How To Assign A Contract?
7. How Do Wholesalers Get Paid?
8. The Real Estate Assignment Clause
9. What Is A Real Estate Assignment Contract?
10. Assignment of Contract Form
11. Assignment of Contract vs. Double Closing
12. Common Misconceptions
13. Final Thoughts

What Is An Assignment In Real Estate?

An assignment of contract in real estate is when...

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Can You Wholesale MLS Properties?

"Can You Wholesale MLS Properties?"

This is a question we see being asked frequently in the real estate investing community. Today, we're getting right to the bottom of it!

Can You Wholesale A Listed Property On The MLS?

Yes, you absolutely can wholesale a listed property on the MLS (Multiple Listing Service).

In fact, from my experience, wholesaling listed property from the MLS is an awesome strategy for any wholesaler.

The reality is that new leads are uploaded to the MLS in your area...EVERY...SINGLE...DAY.

Well, if this rings true, then....

Why Do Some Investors Say "Stay Away From The MLS"?

Most investors have never developed a system around the MLS or have been able to get deals consistently off of the MLS. This is why a lot of people can say “stay away.”

People are afraid of what they don’t understand, and a lot of people don’t understand how to acquire properties to wholesale from the MLS.

See, most "real estate...

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What Is Transactional Funding? The Ultimate Guide For Real Estate Investors

Have you ever wanted to get started in Real Estate but felt like you didn’t have the funds to get your foot in the door?

Have you ever wished there was a way to use other people's money to get your first deal?

In this guide, we will go in-depth on what exactly Transactional Funding is, how it works, how to find these lenders, and how you can benefit from it as a real estate investor & wholesaler.

Here's what we'll cover in The Ultimate Guide For Transactional Funding:

1. What Is Transactional Funding In Real Estate?
2. Who Uses Transactional Funding?
3. 5 Benefits of Using Transactional Funding As An Investor
4. How Does Transactional Funding Work For Wholesalers (Step-by-Step)?
5. Transactional Funding & Double Closing Example
6. How Much Does Transactional Funding Cost?
7. How To Find Transactional Funding Lenders?
8. Can I Use Transactional Funding For An Earnest Money Deposit [EMD]?
9. Alternatives For Transactional Funding?

What Is Transactional...

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How Kriss Made $5,000 From Her First Wholesale Real Estate Deal! (Interview)

Kriss (Pro Wholesaler Student) recently flipped her first wholesale real estate deal and made $5,000 while spending $0 on marketing!

See how Kriss got her start Wholesaling Houses!

What we also cover in the interview:

  • How Kriss made $5,000 on her first wholesale deal!
  • How Kriss found the cash buyer for her wholesale deal from facebook
  • How “Wholesaling” is new in her area
  • How Kriss isn’t afraid to take action & loves any competition ("Winner & Finisher" Mindset)
  • How Kriss has been utilizing REIA (Real Estate Investors Association) Meetings
  • The power of consistency & taking action
  • The power of the back up offer...
  • How all real estate agents are not created equal
  • The book recommendation for breaking through any obstacles
  • Her thoughts on the Pro Wholesaler Program!
  • And much more...

Watch the interview right here:

Here's the video transcription on how Kriss made $5k from her first wholesale real estate deal:  

...

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REIA Meetings - The ULTIMATE Guide For Real Estate Investors Associations

One of the best actions I took when I began my real estate investing endeavors was attend as many REIA Meetings as possible. REIA Meetings will give you the opportunity to learn, grow, network, and build relationships with all types of real estate professionals in your local market!

Most importantly, REIA Meetings can help you take your real estate investing business to the next level.

You'll meet potential business partners, investors, cash buyers, sellers, private lenders, agents, wholesalers, mentors, and all types of real estate industry professionals!

Want more real estate deals whether you wholesale, flip houses, or buy rental properties?

Want to be taken seriously as a real estate investor in your market?

Want to meet potential mentors and partners that can help grow your business?

Want to beat the real estate investing learning curve & give yourself the highest likelihood of success?

Then read through The Ultimate Guide For REIA Meetings,...

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What Is Wholesale Real Estate? (5 Reasons Why You Should Learn How To Do It)

"The real estate industry has helped create more millionaires than any other industry in America."

I'm not sure who said this exactly (do you??), but it tends to ring true!

However, I'm sure we can agree that real estate is one of the few industries which has various avenues to make money and build long-term, generational wealth.

Whether you're getting your license and becoming an agent, holding rental property and building equity, or finding fix and flip properties, there's a way for everyone to make money.

One of my favorite (and not so talked about) avenues to make money in this industry is called "wholesale real estate."

In this article, we get into detail all about wholesale real estate and if you're not wholesaling yet, we'll cover 5 main reasons why you should start today!

 

What Is Wholesale Real Estate?

Wholesale real estate is when you find a great investment opportunity (for example, a house), get the property under contract, and then sell the rights...

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House Flipping Shows: What’s This Business Really Like? | Real Estate Skills

House Flipping TV Shows have become increasingly popular over the years! While house flipping shows are a great way to be introduced to the real estate industry, there is still lots to learn that’s not being covered on your television.

Flipping a house entails purchasing a home with the intention of renovating it and reselling it to make a profit.

Whether you’re planning to flip a house, or in the middle of a project, watching these shows can provide helpful instruction and inspiration.

Let’s give you the run down on house flipping shows so you can see the reality behind it all!

 

The History of House Flipping Shows

So, how did house flipping shows start? Well, the great economic recession hit the world in the 1980s. During this time, earnings from the stock market were down as house foreclosures went up. Guess what started to happen?

Savvy investors were able to get great discounted prices on houses and began buying foreclosed homes, fixing them up, and...

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What Is The MLS? All About The Multiple Listing Service | Real Estate Skills

Real estate brokers & agents provide a convenient way of searching, buying, and selling properties. That’s because brokers & real estate agents have unique skill sets and access to industry-specific listing services like the Multiple Listing Service.

 

What Does MLS Mean in Real Estate? 

In real estate, the ‘MLS’ stands for Multiple Listing Service. The MLS is an online software that brokers & agents utilize to establish contractual compensation offers, accumulate, and even disseminate the information required for appraisals. In simpler terms, it is a database of relevant information on homes or properties for sale in a particular region. 

Using this database, real estate agents find the right properties or homes to show prospective buyers with ease. The information contained in this database also plays a very crucial role when it comes to making offers and negotiating real estate deals. 

 

When was the First Multiple Listing...

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What Is A Short Sale In Real Estate? What’s The Process?

With a whirlwind of information out there, the short sale process can become very confusing and tedious to accomplish. In this article we will break down the core concepts of a short sale in an easy to understand step by step process.

What is a Short Sale in Real Estate? 

Short sale refers to a real estate sale where the net proceeds of a property sale fall short of all debts that liens have secured against that property. In other words, it’s the sale of a property at a price less than what the current owner owes. 

For instance, the amount owed by a homeowner can be $500,000 on a mortgage. However, the value of the home in question can be $400,000. As such, there is a negative equity of $100,000. 

But, why would a lender agree to a short sale? Well, lenders are in a money making business. They are not interested in owning homes. When a lender takes a property back and forecloses it, the property is considered a non-performing loan.  

Therefore, this...

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Wholesaling Houses Interview: 18 y/o Goes From Making $10/hr to $2,000/hr! - Pro Wholesaler Review

In this interview we go over how Carson has been able to start wholesaling houses as an 18 year old! Carson recently quit his job and has gone from making $10/hr to $2,000/hr thanks to wholesaling houses & real estate!

In this in-depth interview, you’ll learn:

- How Carson made $16,400 in profit from his first 2 wholesale real estate deals
- How Carson found the houses that he wholesaled
- How to find cash buyers now for wholesale real estate deals
- The real estate deal numbers break down for each wholesale
- How being a member in the Pro Wholesaler Program has helped Carson grow his wholesaling business
- What to do (and not to do) when starting out wholesaling houses
- Carson’s #1 tip for anyone starting out as a wholesaling beginner

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Here is the transcription of the wholesaling houses interview in case you enjoy reading:

Alex:                 Hey guys,...

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