reflipping?

[darrenjzy]

after assigning a contract on a property, how does the proccess go to reflip to another invester?  Is there a different contract?  just for info. thx

[tedjr]

Howdy Darren:

A little confused with the question. Once you assign a contract your are out of the picture. It is up to the person you assigned the contract to to close the purchase. That person may reassign the contract yet to another investor.

If for some reason the first person you assigned to backs out you just cancel that agreement and then you can assign to a different investor with a new assignment agreement. To cancel the first agreement just write on it that this agreement is hereby cancelled and you both would sign and date. Then you are free to assign it again.

I hope this helps answer the question.

[darrenjzy]

thats great info.  But, i what i'm trying to ask is if i wholesale a property, can another wholesaler get it assigned to them from me.  then to their buyer without actually purchasing it. like   "Owner>wholesaler>wholesaler>buyer.  How would this work?  Hopefully i won't under price a property

[tedjr]

Howdy Darren:

The wholesaler that you wholesale it to can wholesale it again by just assigning the contract just like you did or even having a double closing as well.

[darrenjzy]

ah, Thx.  I didn't know if it was more difficult than that.