JvM 7 Report post Posted May 22, 2013 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 createthe 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 stepsneeded 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 betweenme & 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 Share this post Link to post Share on other sites
MichaelC 160 Report post Posted May 23, 2013 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. Share this post Link to post Share on other sites
JvM 7 Report post Posted May 23, 2013 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. Share this post Link to post Share on other sites
bwalston 1 Report post Posted June 9, 2013 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. Share this post Link to post Share on other sites
JvM 7 Report post Posted June 10, 2013 Yep, Joe assigns over to the tenant buyer now. 1 Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 10, 2013 Are you saying it's hip to be me again? Share this post Link to post Share on other sites
JvM 7 Report post Posted June 10, 2013 Are you saying it's hip to be me again? Yeah, didn't Huey Lewis write a song about that... Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 10, 2013 Are you saying it's hip to be me again? Yeah, didn't Huey Lewis write a song about that... Oh, yeah, it's Hip To Be Square. . . Share this post Link to post Share on other sites