Dennis Kaiyer
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- Mar 3, 2019
- 16
- 15
I see this all the time with people "wholesaling real estate", they find an undervalued house and they tie up the rights of the contract. The "option to purchase" contract allowing them to purchase the real estate by some point in the future. Then they then either find someone to sell it on to (using an "assignment clause") by selling the contract itself to someone else that is interested. Or they add value to it by improving the real estate and then selling it off.
My question is not about real estate though ... My question is, can this be done with businesses? Both online or offline? What about just with assets? (say for example a restaurant goes out of business and has $100,000 worth of equipment they need to sell fast and would take $80,000. Could that be tied up with an option to purchase and an assignment clause?)
Also I'm no expert obviously, it might not be called an "option to purchase" or "assignment clause" outside of real estate, but it's the concept and function I'm talking about more than anything more than the terminology, so if I am saying it wrong please feel free to correct me so I know.
Not sure also if this can be done individually or has to be done under a business entity.
My goal is to sit down with a lawyer soon enough, but I want to know this is even a possibility legally before spending the money booking 30 mins or so to just find out it's not legal like with real estate.
I want to say thank you in advance to any reasonable responses, I really appreciate your time and help.
My question is not about real estate though ... My question is, can this be done with businesses? Both online or offline? What about just with assets? (say for example a restaurant goes out of business and has $100,000 worth of equipment they need to sell fast and would take $80,000. Could that be tied up with an option to purchase and an assignment clause?)
Also I'm no expert obviously, it might not be called an "option to purchase" or "assignment clause" outside of real estate, but it's the concept and function I'm talking about more than anything more than the terminology, so if I am saying it wrong please feel free to correct me so I know.
Not sure also if this can be done individually or has to be done under a business entity.
My goal is to sit down with a lawyer soon enough, but I want to know this is even a possibility legally before spending the money booking 30 mins or so to just find out it's not legal like with real estate.
I want to say thank you in advance to any reasonable responses, I really appreciate your time and help.
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