$10,000 needed in March & April
I have a lot of experience in real estate, construction, investing and read lots from this site +.
What I really want to know is how do I make $10,000 during each of the next two months.
keep it simple please
Ed 
I would hope that you read as many posts as possible because there are many ways you can make $10,000 each month with just one deal. (Sub-To, pre-foreclosure, rehab, assignment of contract, bird dogging, etc.)
You have to decide what area you are going to focus on, that way you won't get mixed up with your thoughts. Also, decide whether you are going to bird dog or do a deal on your own. Bird dogging is great for starters because you find the deals and sell the information to an investor for a finder's fee. If you do a deal on your own, then you need a lot more information to research or a course to invest into.
It is possible to make $10,000 each month, you just have to find your method of transportation to bring you there.
Hello all,
Im very new at this investment business, but what exactly is assignment of contract?
An assignment of contract is where you assign the contract to another investor or a buyer.
When you write up the "contract for sale or purchase" as buyer you fill in your name and add "and/or assigns." You also need as "Assignment of Contract" form for the seller to sign as well as the sale contract.[ Edited by tanya1215 on Date 02/22/2003 ]
I have a question about the assignment of contract. If you sign a Purchase agreement but do not add "And/or assigns" does that disqualify being able to assign the contract? The PA doesn't have any verbage about assigning contracts in it.
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, the contract is generally assignable even if the seller objects and even if you don't have the words "and/or assigns." However, you should remember that once you assign a contract, that does not mean you are relieved of any further liability. If the person you assigned the contract to does not complete the purchase and does not have a legal way of terminating their contract without breaching the contract, the seller may sue both the assignee (i.e., the person you assigned the contract to) and you, the assignor of the contract.
On 2003-04-02 22:11, Karen wrote:
I have a question about the assignment of contract. If you sign a Purchase agreement but do not add "And/or assigns" does that disqualify being able to assign the contract? The PA doesn't have any verbage about assigning contracts in it.
Karen:
Your answer depends on contract law in your state. In most states, if a real estate contract does not state it is not assignable (whether or not they also use the words "without the consent of the seller"
The only way you can ensure that you are relieved of any liability when you assign the contract is getting the seller to sign a waiver relieving you of liability and the new person agreeing to be liable on the contract. The legal term for this type of release is known as a "novation." Most RE contracts do not contains such release language, so you need to make sure you have it in your addendum. Otherwise you will have to get it from the seller when you assign the contract if you want to reduce your risk.
Hope that helps,
Taxjunkie[ Edited by taxjunkie on Date 04/02/2003 ]
Does it make a difference who the seller is? This one is an REO foreclosure.
Thank you for your help and good advice. I didn't know about the release. I want to cover myself as best as possible.
Quote:
On 2003-04-03 15:32, Karen wrote:
Does it make a difference who the seller is? This one is an REO foreclosure.
No. As long as the bank accepts the contract that says "[your name or entity] and/or assigns" or the contract is silent on the assignability issue, you can freely assign the contract.