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Chris43

Do you assign back to the Seller or to the Buyer?

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Lol.. good one, MC.

 

I've still been using the one page L.O. memo with the seller (that spells out their terms) upfront.

 

Now I'm wondering since that does give us a principal interest with the seller, if I can just then create

the lease & option between us & our end buyer & assign back to the seller. Seems like I should be able to,

unless it needs to spell out in the 1 page memo that I will be assigning my buyer over to the seller upfront.

 

Up till now I've been assigning to the tenant/buyer, but it looks like it would be the same number of steps

needed no matter who I assign it to?

 

1) I get the 1 page L.O. memo signed between me & the seller with the terms they need.

2) I create the lease & an option contract between me & the seller (with the new numbers to include my fee).

3) I find & assign to the tenant buyer.

 

If I assigned to the seller, it would be the exact same process, except the lease & option contracts would be between

me & the tenant buyer. So it seems like the same exact number of steps.

 

I'm just going to keep assigning to the tenant buyers unless I see some new benefit.

 

Thanks,

 

JvM

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Hi, Jay. I see no advantage of any kind in assigning the deal back to the seller. In fact, I see it as nothing more than a gimmick to sell crap. That said, I'm sure there are exceptions when a deal needs to be transacted this way. But for our typical, run-of-the-mill Cooperative Assignment, it's unnecessary. Keep it simple; if it ain't broke, don't fix it.

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Hi, Jay. I see no advantage of any kind in assigning the deal back to the seller. In fact, I see it as nothing more than a gimmick to sell crap. That said, I'm sure there are exceptions when a deal needs to be transacted this way. But for our typical, run-of-the-mill Cooperative Assignment, it's unnecessary. Keep it simple; if it ain't broke, don't fix it.

 

 

Yeah, I was interested as to why some people prefer to do it that way (assign to the seller) & can't really seem to find any great reason for it, over assigning to the buyer (which is what I've always done). It looks like it's the same exact steps/process, only one assigns one way & the other to the other.

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In the system that Joe McCall teaches he assigns his paperwork back to the Seller. Not sure if it’s necessarily a better way, just a different way to skin a cat......

 

 

Adam, this is how Joe assigned deals when he first started his "wholesaling lease options" course. I'm pretty sure I heard him recently say that he's now assigning to the tenant buyer.

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Yep, Joe assigns over to the tenant buyer now.

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Are you saying it's hip to be me again? :oB)

 

Yeah, didn't Huey Lewis write a song about that...

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