4 thoughts on “Selling my signed contract

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      Would love to know how you got to these numbers when you have a chance!


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        Morning. There are several ways you can figure these numbers out. First is read the book by J Scott House flipping. However although that book is wicked awesome… the best way to do this is have 3 contractors come check out the house and let them give you itimized quotes for the repairs you have in mind.
        why 3?
        I had a contractor tell me once that redoing the kitchen (and it was a miserable kitchen) would cost me 20K, while all others quoted me 4K.
        My mistake was, that he asked me what my budget was, and I told him. So magically his quote was 3 dollars under my budget. NEVER tell a contractor what your budget is. Always tell him what you want done and let them quote you for that. Who gives a &#(@ what budget you are working with?! You want a specific task done and that should not change depending on how much money you have. Friggin Prick!

        Yeah, walk 3 contractors. If all give similar estimates for itemized items you can be confident your quotes are on mark. From there you formulate the total rehab budget and see if it is a good deal, and from there how much you want to assign the contract for.

        But of course you need to do all that BEFORE you put anything under contract.

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      Hi Jerryll! Did you reference your fee as an “assignment fee” in your assignment contract and take a nonrefundable deposit?

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        Correct, in my assignment contract I demand an immediately non refundable fee of $2500,00. I will add to this that you should have the endorsement/ release be approved immediately on the assignment form. If not they can actually not release the check to you which will be a lot of legal crap you have to go through. So absolutely have the non-refundable deposit released by the assignee immediately.

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