Double close wholesaling reaches the same destination as a standard assignment but takes a different road.
Log in to followI had a small three bedroom under contract at 91k and a buyer lined up at 118k. I picked a double close over an assignment because 27k looked like a number that would make my buye…
Underwriting is what I do all day, which makes this one embarrassing. A-B at 224k, B-C at 259k, same day double close, cash on both ends. I put 35k in the spread column and built…
Ran a 118k in, 142k out last month and both legs closed within about two hours of each other, which is how I've done every one of these. My funder doesn't care, the fee is flat pl…
The wholesalers who keep calling me have me trying to figure out what they're actually doing, and my own work is on the rental side, so treat this as an outsider's question. What…
I've got a listed property under contract at 212k and I'm planning to resell at 235k the same day. The listing agent found out about the second closing somehow and told me she has…
I lend, I don't own, and this is the first time anyone has asked me for money that comes back the same day. Trying to understand it before I say yes. The deal as described to me:…
Working out whether double closing pencils at my deal size. Purchase 185k from seller, resale 199k to a landlord buyer who already knows the street. Spread is 14k. The funders I'v…
Contract with the seller is 182,000, cash, 21 day close. End buyer is a local flipper doing three or four a year, signed at 214,000. So 32,000 of spread. Why I'm not assigning: th…
I have a contract at 104k with an end buyer at 131k and my title company wants to know whether the seller has been told there's a second settlement happening an hour after hers. N…
First one I got all the way to a settlement date and it died on the closer's desk. Numbers: contract with the seller at 112k, end buyer signed at 131k. Small 3/1 in a working clas…
Small midwest city, 1970s brick six unit, all occupied, seller was an estate winding down. I had it at 214,000 and resold to a local operator at 249,000. Took title and held it se…