For everyone out there that has a property locked up and is looking for a buyer

For everyone out there that has a property locked up and is looking for a buyer

Don't just market your property to other investors, but market it to a retail buyer, someone who may want to live in the property, you can make much more that way. Like adding a zero to what you would make off wholesaling to another investor. Another investor wants a good deal but a retail buyer only cares about what the house looks like, how many rooms, how big the rooms are, etc. There are lots of websites you can list the property for sale on. Remember your equitable interest allows you to sell the property and make a profit off your equity in the contract. Just let your seller know you will be bringing people by such as appraisers, inspectors, prospective buyers so you can get an idea of the worth of the property. You can even use an automated showing service for $25/ property that schedules everything and shows as well as talks to the seller for you. Pm if you would like the info.



There was a post here not to long ago about 80 websites to market to buyers.
I myself found that using was successful


onthelynx95, I believe you mean sellpoint.

rbailey1962, one of our investors was going to flip one of his properties to another investor but has decided to put a little work into the property and will get $50K more selling to a homebuyer so he'll go that route.


Yeah, I just wish we had the

Yeah, I just wish we had the money to buy it and put into the home. All we can do right now is assign. :/



"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53

I'm so new

I don't even know of such services like automated showings. But it sounds like it could save a lot of time.It's something I would like to learn about , I would love to be that busy where I had someone showing the properties.I'm also very interested in the web sites for investors also . I will pm for more info.Still haven't closed first deal yet.

automated showings

they work out well especially if your seller is still living in the property and you are trying to get an end buyer. You don't have to worry about showing the property yourself to prospective end buyers, or even the appraisers or inspectors. The company makes all the arrangements.
Sellpoint is the service for blasting your listings over about 40 sites, great marketing tool. If you have the automated showings, the phone number goes on your listing you use to market your property. Prospective buyers call it and everything is taken care of.

still wholesaling

pandpvinc wrote:
Yeah, I just wish we had the money to buy it and put into the home. All we can do right now is assign. :/


You can wholesale to a retail buyer. A retail buyer is basically a homeowner, someone looking to buy the property to live in. Therefore you lock up a property at 50% under market value and you can sell to them at 10-20% under market value. You make more than wholesaling to another investor. You don't have to buy it to sell it, all you have to do is have the equitable interest in the property. It's still wholesaling:) You can also get properties through a hard money lender, and even borrow a little more than the property you are buying so you can have cash to fix up a property or cash in your pocket. Even 5k at closing would be nice. Check out some of sistreet's post to see what I mean

think outside of the box

don't think that only other investors are the only ones that can buy your wholesale contracts. Remember equitable interest gives you the right to resale and market your deal.

Anne, You're right, I could


You're right, I could wholesale to retail buyers as well, but don't they need to have the cash on hand to pay your assignment fee? They can't build it into their mortgage.



"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53

Not all wholesale buyers pay with cash

Not all investors pay wholesale fees upfront either. They(retail buyers) get the loan and your assignment fee comes out on the hud-1. Sometimes even assignment fees from cash buyers come out that way as well. I don't know all the details exactly but I know that's where it goes. You can also use transactional funding to close with the seller and turn around and close with your buyer, that way you are selling property that you "own" and the transactional funding actually comes out at closing. They wire enouph in to close the deal with the seller, then take thier money back at your closing with your end buyer. It's not all that hard. You can google transactional funding and check it out. You can also do it as a double closing without having to have the funds because everything gets recorded at the end of the day so you can close with your seller then turnaround and close with your buyer just minutes after closing with your seller and the money to seller comes from your buyer through thier loan or cash what have them. It's definately possible so don't loose hope. Read posts from Matt (cbrpower) and sistreet and you will see what you can actually achieve. The hardest part will be getting over the fear of trying something different but the best deals come from outside the box. Wouldn't you rather make $50,000 instead of $5,000? I would. I would be happy with $5,000 too but I wouldn't want to pass on the opportunity that's all. You have to go with what's more comfortable for you. There are lots of opportunities to get properties without having any money. That's the creative financing part. You can do subject to and simply take over the mortgage payments. Ask for 60 day closing, and get your property listed. Use sellpoint to get it blasted. On a subject to you simply find a tenant buyer and get xxx down usually between 5,000-10,000. If the subject property is behind you catch it up out of the non-refundable down payment and pocket the rest. Always rent for 100 or 200 more than the mortgage payment so you have possitive cash flow. Also since they are basically leasing it from you they are responsible for all repairs and stuff. Do a 1 - 2 year lease. Mortgage companies don't care if you take over the payments as long as the money is paid on time. You get the homeowner to sign a limited power of attorney and authorization statement for the mortgage giving you the right to speak to the company about the loan. You send the mortgage company a letter saying to send all corrospondance to the address you provide and voila! Not only do you own a property, but someone else is paying for you to own it, and you're making monthly income as well. One more thing, you have the home owner add you on the insurance policy as an added insured. If you have questions feel free to ask I will help as I can


I never thought of this until I heard it last night. I decided to post it on here because sometimes we get single minded and forget thier are lots of options out there. I knew this info could be of help to someone. Retail buyers aren't worried about how much equity is in a property, they just see a property and like it and want to buy it. Anything that can make a good deal all the more sweeter is ok in my book! Smiling It's definately worth a shot.


Your assignment fee is actually in the price they are paying for the property. Example if you lock up a house for $100,000 then sell it to your end buyer for $110,000 that $10,000 extra would be your assignment fee. One of the forms actually has a statement that you are receiving the fee. I'm not sure if it's the investor's disclosure statement or not. I hope this made it easier to understand.
Now say you are selling to an end retail buyer, instead of having to sell the property with at least 30% equity in it you can sell closer to market price and make potenially thousands more. It just makes the deal that much sweeter! Any deal is good as long as you profit off it. Sometimes the profit may only be that you own the property.

Anne, This is great info,


This is great info, thank you! I still have one question, though. If I do a true AoC, where I have the purchase agreement with "and/or assignee" after my name, then get an assignment of contract signed by my end buyer for a fee, the end buyer is going into that purchase contract for, in the case you mentioned, $100,000, and the bank is going to see the assignment of contract for $10,000. If it's a double closing, yes, it would simply be a sale for $110,000. Is that what you mean?



"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53


definately if it's a double closing it would simply be a sale for $110,000. There is a way to do it as a regular assignment though where your end buyer signs an agreement that states you are getting paid that fee for giving up your rights to purchase the property yourself. There is also a confidentiality agreement so they can't try to go around you and deal with the seller directly but if your upfront with your seller about your deal anyway you wouldn't need that, but if it makes you more comfortable then you can use it. There are some other threads on here that deal with assigning, so everything I am explaining I read in those. Sometimes it gets confusing though because it's explained right and then other people make comments and it gets mixed up. Usually sellers don't mind if you make a profit because thier house was sold. From everything I have read it seems the easiest way is to use transactional funding or back to back closings, or possibly hard money lenders. If you have a credit score of 640 or higher I know a site you can get a loan easier. Hard money loans go by property value so you can use those to buy properties as well. I'm glad I can help

Wow girl

You go on with your bad self!! You have been busy..went to the site and wasn't able to locate anything down my way, there are so many up your way it's incredible... I am working on a duplex now in Cincinnati, Hopefully she will get back with me. It's a bit of a drive, but oh well.. sometimes u gotta do what u gotta do.. send me the link again, my mail deleted it by accident.. The one you sent me last night with the video.. Thanks K


I sure will send it to you. How far is the drive to cincinnati from your house? I know Cedar Point is about 3 hrs from here. Alot of the properties in Indy noone ever responds or they are sold when they finally do. From what I have read Florida is good for finding cheap properties right now. I am going to try and get some through hml so I can hang onto them.

Great Info

Great info on websites and assignments. I'm just trying to take it all in. Thanks again..

Lea, I did mean postlets,

I did mean postlets, but sellpoint is another.

Assigning a contract deal, the simple way

1. Get property under a assignable contract
2. Get buyer to sign your assignment contract that has purchase price listed plus your assignment fee for a total cost to your buyer.
Example Purchase price $100,000
Assignment fee $10,000
Buyers purchase price $110,000
Take these TWO contracts(number one and number two) to the title company and set up the closing date.
Get a check at closing for your assignment fee.

This is simplified but how it works, get out there and put together a deal or two and you will learn it all!

Good luck
Michael Mangham
MD Home Acquisitions LLC


Knowledge is power, but execution trumps knowledge. Tony Robbins Seller site Buyer site Bird Dog Site Tenant/Buyer site


that definately makes it much easier and more cut and dry. Thanks for the help

awesome information

great info, guys, thanks so much!!!

Purchase agreement/Assignment,

Do you present the Investors disclosure,to your seller at the same time, or do you do your purchase contract with your seller,then go to your end buyer do a purchase contract with end buyer, then go back to your seller with investors disclosure with the amount you are making, and the new contract from end buyer..

If you are being up front with your seller

you have him sign the investor disclosure statement that says you are an investor and may make a profit off your equity in the contract you have with him/her. Now you don't have to disclose how much you are making. The example of the contract is in profit from real estate right now. It basically states you may pass on your equity in the contract to another buyer for a profit. Never reveal your end buyer to your seller, that statement is all they need. Have it signed and they can't complain if they find out you made 20k off your contract with them, they signed a statement that said you may do just that! Present the purchase agreement and investor disclosure at the same time if possible. Then get a purchase agreement with your buyer, and have them sign your assignment fee statement. That's if you are going to tear up your contract between you and the seller and write up a new one between seller and your end buyer. That's done with buyers like fsbo. I am not positive but I think if you lock up properties through mls you wouldn't have the investor disclosure statement.

Anne, but you don't have to

Anne, but you don't have to use the IDS if you're just doing an assignment, right?



"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53


that form is strictly if you find a fsbo and are letting them know you may be selling thier property(actually the contract you have with them is what you are selling) for more money than you are paying them for it. There are many ways to do an assignment. With for sale by owners you can be upfront and it would probably be better. Personally I hink the easiest way is to do a back to back closing because you make your profit and both seller and buyer are happy.

I agree

to be up front with seller,but if you yourself don't know what you can get from your end buyer, do you have your seller sign a blank IDS ? I think I need to learn a lot more about back to back closings. ( I need to learn more about all of this) I'm learning a lot with this forum..Thanks for the info.


I have actually gone to the closing table doing this (not some theory) This is in Colorado. Dealing with motivated sellers directly.
1. We agree on the price they will sell the property to me for.We sign the assignable purchase contract.
2. We set a closing date.(in the contract)
3. I explain that I buy and sell real estate to make a profit. I do not represent them and I do not represent the buyer.
4. I tell them I may buy it, fix it and sell it for a profit or I may assign the contract to a buyer and they will close on the property under their name and I will get paid a fee at closing.(Legally it is an assignable contract anyway!)
5. My Assignment contract clearly states what I paid for the property and what my assignment fee is. FULL DISCLOSURE TO ALL PARTIES UP FRONT!

My deals give the home owner as much of their equity as possible while leaving enough for my fee and enough profit or equity for my buyer so he does not care what I make! Otherwise it ain't a deal anyway!

Good luck investing!
Michael Mangham
MD Home Acquisitions LLC


Knowledge is power, but execution trumps knowledge. Tony Robbins Seller site Buyer site Bird Dog Site Tenant/Buyer site

I am currently working on 4 possible assignments right now,

however if I had the funds to keep I would, They are in an excellent rental area two are right next to the local colleges, notre dame saint marys and another,walking/biking distance, and the colleges are always booked. Parents are starting to rent properties for thier kids right now. Not only that but facaulty and grad students rent around there too. And everytime they have a home game 1bedrooms rent for 1900 a weekend, otherwise a 2 or 3 bedroom goes for 1900 a week. You should see it, everything in the area is packed when there is a home game. Hotels all the way past plymouth. We live about 20-30 minutes from notre dame and plymouth so we are kinda in the middle.
I will have to read over that section again in the book but I think it was a blank disclosure statement, but it could have actually been a filled out one.

Holy cow, Anne! Talk about

Holy cow, Anne! Talk about a financial hot bed!!


"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53


for the closing table info. and IDS .I.m trying to do an assignment in CA. but I have a verbal contract, but i'm trying to get my contracts signed before I let my buyers know where the property is. FMV 103.000. Owner accepted verbal offer of 22,000 . My buyer is interested at 35,000..I think I'll just wait until I get my contracts signed by seller. Unless any of you have any suggestions on verbal contracts..

Chris, My suggestion on


My suggestion on verbal contracts is that they're like an invisible friend. Smiling



"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53