Double close wholesaling reaches the same destination as a standard assignment but takes a different road.
Log in to followMy last three double closes went different routes and I can't tell which one I should be building toward. Two used transactional funding, priced at a flat fee plus a couple of day…
Nothing clever about this one, it just closed, so here's how it actually went. Seller was an estate, three heirs, wanted done. Contract at 88k. Cash buyer I've sold to twice befor…
Contract with the seller at 214k, resale to my end buyer at 252k. I built the whole thing as a double close because the spread is 38k and I did not want that number sitting on an…
Trying to get a real number in my head before I stop researching and start doing something. What I think I understand: assignment costs you basically nothing, double close costs y…
Contract at 74k on a 1,400 square foot two story in an older streetcar neighborhood, roof was near end of life and I priced that in. End buyer at 98k, cash, contract signed, fundi…
Something I've been chewing on while building my buyer list, and I'd rather argue it out here than guess. Two schools I keep running into. One says decide the exit up front. You w…
First and last time I played transactional lender without checking the far end of the chain. Deal came to me from a wholesaler I'd done nothing with before, referred by someone I…
This is my first time actually putting any of the paper stuff I've been reading about for months to work, so push on it. Deal shape: 1970s three bed on a slab, tired but dry, sell…
I do renovations normally so I'm used to carrying builder's risk from the day I close. Someone in my local group said on a double close you don't need any insurance because you ow…
Under contract at 189k on a house with a kitchen fire in the back half, structure is fine, the smoke is not. Builder buyer at 231k, cash, wants it in ten days. I'm not touching th…
Cheap end of a farm town, population under 4,000, no lender involved on either side. Contract at 38k, end buyer a local landlord at 52k. 14k spread on paper and I've done enough o…
Duplex, both sides rented, tired but no structural problems. I had it at 129,000 from a landlord who was done. End buyer at 152,000. That 23,000 felt like too much to put in front…
I've had two closers use "simultaneous close" and "dry close" to mean different things and I want to nail the definition before I structure anything. Closer one told me simultaneo…
Eleven days out from closing on a small brick ranch in a working class pocket of town. 168,000, 20 percent down, small local bank doing the loan. Inspection is done, roof has mayb…
Five years of transaction coordination, mostly straightforward resales, 550 a file. Over the last eight months maybe a fifth of my incoming work has been wholesalers doing double…
Everything I read about wholesaling says the whole appeal is you never own the house, you just sell the paper. Then this room says double closing means you actually buy it. So do…
I run a cleanout and turnover crew, five years, mostly for landlords. One of my regular clients inherited her aunt's house and wants it gone without listing it. I've been in the h…
Building my buyer list still, so this is theory for now, but it's bugging me. A double close is two deeds recorded, seller to me and me to my buyer. Somebody on another forum said…
Selling a small rental I've had for nine years, 172k, cash offer, no inspection contingency after day 10. All fine. Then the contract came back with "and/or assigns" after the buy…
I've been reading my own file backward, the way an examiner would. On a double close I end up with a recorded deed into my entity and a deed out, and the standard claim is that th…