Newbie Question

[RogJr35]

I'm a new part time investor.I'm starting out by wholesaling.Can I assign properties that are listed.Do investors pay less for an assignment fee because the property was listed rather than it not being listed.Ive found vacant properties and thier owner but haven't had any luck.I've found alot of deals on the MLS but I don't want investors to think I'm just trying to make a quick buck. Any response would be appreciated.

[Rob in Atlanta]

There are no rules preventing you from contracting a property listed through an agent/broker and assigning that transaction.  However, many agents and brokers will support their seller/clients not to accept an assignment provision in a contract.  Not sure why, but many do this, from my experience.

The inherent risk for you is that most listed properties will require a normal sized deposit such as $1,000 to $5,000, which you would have to lay out until your closing.  When that happens, you could have your assignee lined up and request the same deposit, if you do not have the extra money for your earnest deposit.

Investors do not pay more or less just because a property is a FSBO or an MLS listing.  This is a function of your ability to negotiate on both sides, the selling price and the assignment fee.

Do not take the position that you are attempting to make a quick buck......if you find and negotiate a good deal and bring that to a buyer/investor, you are entitled to get paid your value in the deal, which is an assignment fee.  If you negotiate a great deal, you can charge higher assignment fees!

My assignment fees have been as low as $2k and as high as $83,000!  If the end buyer is still getting a deal, you can charge whatever the market will pay you.  Just remember to always leave something 'on the table' for the next guy in each deal.

Rob