Make $17,500 in front of your Buyer’s and Seller’s Face!!

Click Here to Enlarge the Video

A lot of people ask me how I get an assignment fee in the likes of $ 17,500 to pass right in front of the face of my buyer and seller.

The video above shows a recent closing that I had in which I did exactly that.

This video is a response to a question by Erby Beavis. If you would like a response to your question via video leave me a comment below.

Next topic I think is going to be on making tons of offers and how I manage it with all the “earnest money” that I would have to shell out.

Below is the “finished product” of that deal 🙂

Texas Wholesaling Check

Texas Wholesaling Check

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  • Hey Alex, great post! Thanks for breaking the whole transaction down.
    At the end of the day, if the buyer is getting a great deal it shouldn’t matter how much you are getting paid. Looking forward to your Next topic on making tons of offers and how you manage them!

    Thanks.

  • conley Hall

    Alex,
    just wanted to say hello, I joined bigger pockets last week and saw you were a member also I do investing in the area also would like to chat if you would like.

  • James

    Hey Alex,
    Quick question, On the first page it shows the cash from the buyer is ~$60K to the left of where the seller will be looking at to see how much they will be getting at the end of the closing, wouldn’t they ask why the difference based on they contracted for $40k? Also unless the buyer is okay and knows from the beginning that you will be making a ~$17k assignment fee, basically without using any of your money or credit, wouldn’t they raise an eyebrow at closing?? I guess the only answer to this is you don’t really care because if they decide to walk away from the closing table they will essentially loose however much earnest money they had put down which essentially still puts money in your pocket without having had to use any of your own money nor credit…hmmmm
    My 2 cents on this is that all parties just have to know what is going on from the beginning to the end, and are okay with the numbers as long as everybody walks away happy. Reason being, the dollar amount doesn’t really matter because, imagine those figures just had an extra zero at the end, would the seller be okay with you walking away with a $175K assignment fee even though they got exactly what they wanted which is their mortgage paid off and walking away with ~$120k? The power of Real Estate…

  • Alex

    The assignment contract that I use already states the assignment fee that I am getting from the buyer. So they see that from jump so to speak. Like I said the seller just needs to focus on their side of the HUD because that is all that pertains to them. The fee is charged to the buyer not the seller. If the seller asks about it I just tell them that the buyer is my funding partner , which he is, and we are pulling out some money at closing to get the deal done. This takes care of it in a honest and above board fashion. In my time wholesaling I have never seen an assignment fee bigger than like 50K and when you do that you might want to double close as that is a large fee. Still can be done on assignment but def requires finess – i think that is how that is spelled…lol
    Thanks for the question James!

  • Pete

    Hey Alex!
    When you mail to your Absentee list do you have criteria for the properties, certain # of bdrm, sq ft, yr built, etc??
    Also, how often do you mail to the same list in a yrs time? I’ve tried monthly with no results. Thinking of going every other month or quarterly….
    Keep up the great info/videos!

    Pete
    Des Moines, Iowa

  • Jerome H

    Hi Alex, I noticed it says Texas wholesaling check, was this a deal done with FS software??

  • Alex

    yes it definitely is 🙂 getting some more done too

  • Alex

    yes pete there is a lot of different criteria that I set….i take a list of aout 20000 and break it into 4 lists of 5000. Then I mail to them on a rotating basis so maybe the same people would get a mailer 2 times a year maybe three times at most

  • TPayne

    Hey Alex! So FS is really a WINNER? How many deals have you closed with the software already? I remember about a month and a half ago you just got it to test out and now your closing 17.5k deals with it! WOW! I can’t wait until Jan. 21st Im buying, I hope its affordable lol

  • Jerome H

    Wow thats GREAT seriously, one last question if you dont mind how do you get your CHECK using it, is it mailed?? I see the escrow company is in your town!

  • Alex

    Yes I have all of my checks mailed to me. I like not having to even go across town to get the check ! I like the fact that the money comes to me 🙂

  • Jerome

    Quick question the leads you get via F$ on contract, how do you find buyers for those properties in the area in a timely manner?
    Thx for your time!

  • That’s a beautiful looking check. It’s been wayyyy too long since I’ve made a fee that big. Time is soon! What is your average fee where you are? Mine is probably $4-7k