Need Help On Assignments
Hi! I'm a "newbie" and this is the first time I have bought foreclosed property and attempted an assignment. I have contracted to purchase two triplexes and two fourplexes (14 units) for $225K and decided to assign them for $40K. That seems reasonable to me, still being at 50% of market value, but the trouble seems to be the $40K that I am asking for in cash. Today I read in a book about "double closings" which may be the answer to my problem. Can somebody tell me the most appropriate way to actually do the assignments? Furthermore, I have never joined a user group or forum, so this is also a new experience, and I hope that responses come directly to my email, as I don't know anything about using this technology. Thanks so much for your help! :-D
Let's talk about this deal, maybe we can help each other out. Send me a private message with your contact information, and we'll go from there.
Regards,
Alexander.
Contact a local real estate investment club and speak with a few seasoned members since you are a newbie.
Eric & Rosa
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