justwannagetahead asked:
and now I want to apply them. My first deal I want to do an “Assignment of Contract”. I have a seller in my area who has Tax Lien properties that he purchased at the once a year Tax Sale in my State, and he has a property for $100K that has comps in the area for $300k, How do I go about doing an “Assignment of Contract” without paying any money out of pocket for this deal is my question?
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and now I want to apply them. My first deal I want to do an “Assignment of Contract”. I have a seller in my area who has Tax Lien properties that he purchased at the once a year Tax Sale in my State, and he has a property for $100K that has comps in the area for $300k, How do I go about doing an “Assignment of Contract” without paying any money out of pocket for this deal is my question?
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Stop. Get an attorney. Assignment of contracts and buying notes is not for amatuers, you could get yourself in trouble in a hurry.
Investing in realestate is hard work. alot of home work and planing goes into it. you need to talk to the owner of the home and see what you can work out with them. but beware you could pay more doing this BUT BE PREPARED.
If you want to do this deal, first learn how to do tax lien/tax deeds in your county. If you check it out thoroughly and it is a great deal, you would put it under a purchase contract that allows assignment. If you don’t know all of the details of a tax lien/tax deed in your area, you may not be getting what you think you are. Then you have to find an end buyer who wants it, and assign the contract to them for a fee. (Or you could purchase it outright and then sell to the end buyer, but then you need to get the money to close unless you can find a title company that will do a simultaneous closing.
Get educated and good luck!