This episode came about from a question on my Podcast Hotline. The caller said he had been approached by another investor who wanted to assign a contract – asking for a $5k deposit and 10 days to close.
This caller wanted to know if that was a type of deal that I would come into as a partner and help find a buyer.
You’ll hear my detailed answer, but the main point is that it’s better not to take on deals like this unless and until you have buyers at the ready. Always be marketing for buyers. That’s the key.
Here’s why: “Whoever has the best buyers, wins.”
Listen and Enjoy:
- How I would handle this deal
- Why its not good to “daisy chain” deals
- Warnings and guidelines when taking on a deal from another investor
- Always be marketing for buyers – where to find them