http://www.truthofrealestate.com/profits
Clint Cohen is a renowned national expert and guru mastering in real estate investing and creative real estate solutions. Clint is also a national award winning builder, remodeler and developer with over forty years of successful business operations. Married and a father of two grown daughters and two cats.
Clint has authored several books and has created, written and implemented many proprietary forms, agreements and exclusive paperwork for all his business ventures. An author, writer, reader, teacher, developer, trainer and lecturer complimented with a very expansive and extensive collection of true and real life experiences. http://www.truthofrealestate.com/profits
You do not need a real estate license to sell real estate…unless you are representing another party and receiving compensation for it. That is the law in most states. The sellers and buyers are excluded from the law, thus the FSBO.
As a real estate investor, you must be careful on how you transact your deals. If you are using an agent now, or if you are buying directly from a seller, then you are okay.
If another investor or a friend calls you and asks you to sell their property by getting a buyer, please be careful that you are not acting as a realtor. Or if a friend owns an apartment building and asks you to manage it for him, you will be acting as an agent if he is paying you. One of his disgruntled tenants may report you?
As an investor, if you want to manage your own properties and or sell them, you are lawfully permitted. For the most part, anything that you do for yourself is permitted.
Now here is where you have to watch what you are doing. As you advance as a real estate investor and want to get involved with assignments, you must learn to do it correctly within the exclusions of the real estate laws.
As a real estate investor who wants to do assignments, you may do with a realtor who understands the whole transaction. You and or your closing company need to sit down with the real estate agents and sellers, and explain it to them. The transaction is simple…if you understand it.
To those that do not understand, it may seem suspicious? So take the time now so it can be explained in the future to all the involved parties. You don’t want a nice deal falling apart later?
The mechanics are as such…the real estate investor agrees to purchase the property from a seller with the ability to be able to assign it. The real estate investor now has an equitable interest in this property.
The real estate investor now becomes the seller, in that he is selling through an assignment process his equitable interests within the property to a new resale buyer. For an assignment fee, the difference between the buy and sell price, is paid to the real estate investor by the resale buyer in exchange for the rights to the original agreement of sale between the seller and the investor.
It may appear to sound complicated, but trust me, after you close the first one and you have a nice check in your hand, it only gets easier. A good agent and closing agent make for a smooth closing.
Why not just do it the traditional way you ask? Very simply, it is faster and has much less costs involved to the real estate investor. Many end lenders have a seasoning time of 6-12 months. This means that if a real estate investor buys a property, that a conventional lender will not loan money on a resale for at least 6-12 months after purchase. Ties up the investors money for up to a year, and adds additional holding and closing costs.
With an assignment transaction, you can turn many more properties without tying up monies. This means that you get paid faster and not have to worry about a changing real estate market. Your agents will also earn more money.
To learn more about real estate licensing and the amazing profits using assignments, please visit my web site today. Thank you…
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