How to fill out a wholesale assignment agreement

Ready to take your real estate game to the next level? In this video, we going to show you how to use batchleads to get deals and I’ll give you an extra sauce today. I’ll walk you through the step-by-step process of filling out a Wholesale Assignment Agreement.

Yo, yo, yo, what’s going on everybody we are live with the batch call, you already know we’re live. And what we’re going to do today guys, I’m gonna show you how to use batch to get deals like I always do. And I’m going to show you guys something a little extra, I’m gonna give you a little extra sauce. Today I’m going to show you guys how to fill out an assignment agreement because some of you guys might not know how to fill out paperwork to assign a deal to somebody. So I’m going to fill that out for you I’m going to show you live today is the batch call,

We show people how to use batch leads to get deals and crush it. And today I got a special treat. And I’m going to show everyone how to fill out an assignment agreement. Now an assignment agreement Nick and for everybody watching is once you have a house under contract, you need to be able to assign it to an end buyer. So you can make your wholesale fee, right. So that’s what we’re going to be showing today as well as showing how batch is helping people right now with the way that the game is. So let’s dive right into it. First, I’m going to show you guys how to use batch to find buyers. And then we’re going to go in now that we have a buyer for a deal that I have, it’s a $19,000 deal. And I’m JV with someone in the club that joined the How to Deal needed help finding a buyer, I found an end buyer. Now we’re just going to assign it. Okay, I’m going to show you how to do it. So let’s dive right into it. So everybody knows about batch leads. And if you guys don’t have batch leads, give it a shot, you get a free trial. I don’t know why you wouldn’t try it. It’s free Contai basically, once your batch leads and my batch leads right now guys, because I’ve made my business pretty dang trim right now as batch leads is pretty much one of the only services I pay for right now to do this business.

You just need the list, you need the data. And then you need maybe like a DocuSign some sort of thing. I use panda doc. But that’s pretty much it. So let’s go to the mind map really quick. If you guys don’t have the mind map that I give away for free, please go check it out. It’s absolutely free. It shows you how to do a deal from Step A to Z set one through 10. It shows everything. So I have done this in the past guys, I’m going to show you guys again, if you are looking for buyers on deals, go to step three and go to flippers and rehabbers because that’s who we’re selling our deals to right now and go to batch leads right now. Okay, go to use how to use batch leads. There are two videos right now where I show people how to find buyers and I’m going to kind of explain this deal that I’m doing right now.

So this deal that I have I’m Jay being with someone in our club program and the deal came in Columbia, South Carolina and looked up the deal ran some comps on it. What had happened is the person I’m JV with they actually found it on for sale by owner. I’ll be honest guys, I haven’t really done a lot of for sale by owner deals, but he found it for sale by owner and what he did the house was listed at 330. Okay, so 330 is was like a really high price point. And what he offered it was listed at 330. He offered 275. I basically analyze the deal. I looked up the comps if you guys don’t know how to look up comps, this is just a random deal. But you know, you basically just go to batch leads, you go to comparables, you see the estimated value of the property, you also can automatically it runs comparable. So it tells you homes have sold recently.

So we ran the comps and the deal was he was way off. No offense to my man, you know, no, well, he’s He’s awesome, but not throw him under the bus. It’s just the comps are wrong, right. So I told them where he needed to be I said, hey, you need to be at this price. And because of the reverse wholesaling method that I teach you guys and show you I actually reached out to a buyer that I knew in the area that I knew would buy it or is interested in buying properties in Columbia, South Carolina, and I said, What would you buy this for? And he gave me a price. He said I buy it for around 185. What happened at that point is I went back to the J, the guy I’m doing a JV deal with and I said hey, man, my buyer needs about bout 185 or 275 Can you get the seller to come down and miracle you know, he was able to get them down to come to 180. Okay, so the buyer that I had was at 185. And he got them down to 180. So I went back to my buyer and I went to the negotiating phase of if you go through step nine of how to dispose a deal, I was negotiating the deal with him and I got them up to 199 Okay, so we have it at 180 there at 199. So that’s a $19,000 wholesale fee, because he’s a part of my club, I actually give them 60% instead of 50.

So on this deal, you know if everything goes well I don’t count my eggs before they hatch my chickens before they hatch or whatever the thing is. So you know, there’s always things that can happen but if it goes through, he’s gonna get 60% for me bringing the buyer and then I get the remainder, right a pretty sweet deal you know, to get more money and for me to help them find a buyer. So all this comes through the the process that I’m showing you guys and batch is a key part of that of my process. He brought me a deal. I ran the numbers in my calculator. So the ARV was like actually 330 What it was listed for he had a 275 So I think it needed about 50k at work and he had a 275 and it’s worth 330 And if you want to make a wholesale fee of 15k It’s not a deal the flipper would Lose $51,000. So we got it down to 180. Now it’s a $19,000 wholesale fee. And yeah, I mean, you could say, dang, you know, the flippers going to make 45k. But that’s how flippers are right now in order for them to do a deal, they want to make 15 to 20% of the ARV as their net profit. So if we just go over here to the calculator and say, Okay, what’s 20%? Of 330? Okay, that’s 66 So that’s more so we’ll go 330 And then we’ll go 15% Because it’s between 15 to 20%. Okay, 49,000 and they’re gonna be making close to that. So they’re okay with making around 15% on flipping it and paying us 19 And we would wholesale to them for 189

So how did I use batch in this process? He gave me the deal. I looked up some comps on it found out okay, is he really dealing with the right owner? Okay, he is alright, let me find out if it’s a deal he had too high, I went to my buyer found out that he needs to renegotiate it, he renegotiated it now, we signed an addendum to the contract to bring the price lower. And now we have a deal. Now I’m about to assign it in all the steps you can find for free in the payneless wholesaling Mind Map. Alright, so I’m going to show you exactly how to fill out an assignment agreement right now.

Because that’s, I mean, you guys are going to need that. So what you do go to Step eight, under making offers and getting contracts signed, you go here to contracts, number three contracts, once your offer gets accepted, which ours has, and then you go to assignable contract for end buyer. So we’re trying to sign our contract to the end buyer, you can go here, I provide you a Google form, all you have to do is make a copy of it. So what I’m going to do is I’m actually going to download this as a PDF, because I have to put it into my DocuSign or or Panda doc. So I’m going to download that it’s time to go to Panda doc. So we’re going to log in here panda doc. So you go under here, under new document, you drag the addendum assignment, here it is. Okay, so you load that bad boy in there, you put the emails of who you’re sending it to. So for right now, I’m just going to show you like an example. So what you would do here is you just put all the text fields that are required in reference to the contract between buyer a signer. So that’s me, right Nathan Payne and sellers and then you would put the sellers information.

And I’d have to look all that up. So I’m just going to do that dated on so this would be the date of the contract property is described as you put the property address so 800, South 1300, North wherever blank, a signer I am the signer hereby assigns all rights to this contract, including the right to ability to assign this blah, blah, blah. Anyway, she’s saying, Hey, I am assigning my right to someone else to buy this property. So we’re gonna go here we’ll put my name pretending but a third party to assignee is the next person that I’d put in well actually, it’s the person that’s up here this is the assignor assignee who we’re assigning it to for the total purchase price including assignment fee of then you want to put what you’re signing it to them for and in this case we’re doing 199 plus any inspection fees repairs will look the closing will take place on or before so we know this one is we said December 5 at 5pm Guys, I know this might look like trash but I’m just doing it quick. This assignment is made with no warranties guarantees you’re basically just saying hey, I’m not guaranteeing anything you have to do your own due diligence undersigned assignee acting personally and for the representatives, affiliates and organizations, if any, each hereby agrees to defend look, it’s pretty much just saying you’re signing the contract to someone, okay? You don’t got to know all this legal stuff.

Just assign your agreement to someone you’re good. So this assignment shall be voidable at the sole discretion of the signer and fails to pay the earnest money so you’re saying hey, I need my earnest money I usually ask for 5k and it says it needs to be paid within you don’t want to give them like 30 days to put down their money you want your their non refundable earnest money put down ASAP so you know they’re legit. So you would just say what’s today today, I’ll give you a day right? You can do it today or tomorrow. It says set earnest money shall be paid by wire certified funds to you’d have to put either you or the title company in their setters. I’m gonna show you paid to Title Company, we’ll just say title company for this one, because I think they’re using an attorney, but I’m gonna find all that out title company said title company, whatever. And you just have them sign. I sign as a signer with my name, Nathan Payne, and then I put whoever signing for them. Again, you’d have to send this as a recipient, but I just didn’t put it for this example.

I am curious. There should be an assignment fee, at least for what I’ve seen in the past. You say how much you’re getting on the assignment fee. Well, that’s actually on specific contracts. So you actually don’t have to say that I think we took that off because we didn’t want people knowing how much we were making until they went to close? So you actually don’t have to show how much you’re making on assignment agreements. That’s how we do it. So then you just have to disclose since this is a JV deal, I’m gonna have to talk to the attorney and tell them how much is going to get paid to me versus how much is gonna get paid to the person on JV with so that’s, that’s how it goes. So Nick, any questions on this assignment? I know I went through it quickly. But it’s pretty self explanatory. If you just read through it. Yeah, it’s straightforward. Yeah, you just take the agreement, you’re the signer, you assign it to someone or you put the price that you’re assigning to them for you have the real estate purchase agreement at a specific price, they can do the math, then they don’t really need to know what you’re making. It’s not necessary for them to know what your assignment fee is for them to do the deal. A lot of people don’t disclose it. We used to disclose it all the time. But again, it doesn’t matter. But that’s it. You know, guys, if you get to the point where you get a house under contract, and you need to sign it, I just gave you the juice. It’s super simple. You just put all this information in you have them sign this and then you send it to the title company or the attorney that you’re working with. Super simple, nothing crazy, guys. I believe I’m smart. I’m a smart person, but it’s not rocket science. Maybe as I’m showing you how to do it, you’re like, Yo, dude, this dude, Nate doesn’t even he looks kind of dumb. I’m not dumb. I’m just it doesn’t require that much effort to just fill out an agreement and send it to someone on DocuSign All right, you can all do this. You all got this, find a deal. Assign it to a buyer through the payneless wholesale method. Find Buyers using the Mind Map and strategies I show you and you’re locked and loaded. You’re good, go make some money.