A real estate wholesaler explains how to use Novation agreements to transfer purchase contracts after closing, then sell to retail buyers instead of just cash investors. The claim: you can double your assignment fees and close twice as many deals.
If you're currently wholesaling real estate, did you know that you could start using Novation contracts to potentially double your average assignment fee and lock up twice as many deals? My company has developed a new strategy where we are using a Novation agreement to allow us to essentially "wholesale" all of our deals without having to close on them. Now, a "wholesale" is a strategy where you buy a property and instead of assigning it before closing, you close on it yourself and turn around and list it right on the real estate market with without doing any renovations. This will often net you a much larger fee than assigning it to a cash buyer because when you do it this way, you open the property up to retail buyers.
Join My Luxury Wholesale Coaching Call For FREE // Tyson Smith & Matthew Tooker
