Paul and I are happy to report that we closed on the "Subject To" property which we had a contract on, which in Terrell, TX. We received a $5,550.00 Assignment Fee for this deal!
Just to recap on how we came to obtain this deal. We actually heard by word of mouth that a couple we are acquainted with is going through a divorce and they needed to get out from under their house ASAP, or they were going to lose it to foreclosure! We immediately contacted them and told them we could help them find a Buyer. They were 5 months behind on their payments. We immediately signed a TREC with them, and they agreed to no Earnest Money down. We then found an Investor who had a Buyer willing to come in and pay up all the back payments, pay the closing costs, plus pay our Assignment Fee.
Also, We have already bought our next 6/2 house, (we'll just call it the "HOT MESS" House) in Terrell with 2200+ sq feet. Good news! We've already found a Buyer and Assigned it for a $6000 Assignment Fee, and we are closing on it March 8th! We are steady looking for our next deal.
Thank you to Cody Sperber the Clever Investor and Family and to our mentor Alisa Law for pouring your knowledge and experience into us. Your mentoring has greatly helped us through this whole process, from how to look for the deals, how to build our Cash Buyers List, how to market our deal, and how to look for an investor-friendly Title Company.
Looking forward to doing great things in 2018!
Bottom Line: Yes, I would recommend this to a friend