I've been reading about assignment of contracts and land trust in real estate wholesaling investing. Here are the steps to the process:
1. I would find sellers of homes, that own their home, without a mortgage, that are motivate seller (want to sell quickly).
2. Once I find the this type of home seller, I then negotiate the purchase price of the home for sale, that's for sell for maybe $100,000 to a purchase price of $80,000. I place the home under an assignment of contract or land trust for the purchase price of $80,000.
3. Then, I find a end buyer (Real Estate Investor), charge $5,000 fee for finding and negotiating the reduced $20,000 purchase price of the home, for a total purchase price of $85,000 for the Real Estate Investor.
4. Finally, close on the home.
Is it possible to do these kind of deals in real estate investing? Can assignment of contracts and land trusts in real estate investing be done and be better and less expensive process for the Home Seller and Real Estate Investor? Does this workout better for everyone than using a Real Estate Agent and, instead, use someone who does assignment of contracts and land trusts?
Read more: Is assignment of contracts commonly done in real estate estate wholesaling? Better for seller and investor?
