December 12, 2015 at 12:52 pm The main reason to do a double close is to avoid letting your end-buyer know how much you are making. When you assign a contract, they can clearly see what you are making. When you double-close, you are signing a separate agreement to sell to them and they have no idea what you are paying for the house. This is done usually for deals where your wholesale fee is considered substantial (about $15,000 or more). Some buyers will just not like this and try to beat you up on price or cause problems. Once you find your group of VIP buyers, this will become less of an issue as they realize that you will be bringing them more deals.
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Find a great deal If the seller is cool and you think they won’t care about your profit amount, just have your profit on the closing statement and hopefully the deal will close like a hot knife through butter.
Hey I’m interested on becoming one of your Florida wholesale buyer, please if you ran into some lots that you will like to wholesale let me know. my e-mail is email@example.com and my cell is 239-440-6044
94.) Author – Many investors choose to share their knowledge through writing and publishing a book. With the emergence of Amazon and other e-book providers, this is becoming significantly easier to do for anyone with a computer and a love of writing.
Sell a good deal Signing Set up an emergency savings fund first off with at least $5K for unforeseen expenses. You will increase this fund with every purchase. Too many real estate investors came so close to making it but couldn't weather a personal or market downturn due to being overextended. Have enough capital for each home set aside.
Weekly REIClub Twitter Finding Great Deals A few states limit the real estate activity of any persons, even if you are acting on your own behalf. SD, MN, WI, MI, MD & MN all have limitations on the number and frequency of real estate transactions you can do before you will need a real estate license. For example, Michigan law limits you to 4 transactions per year, although it is not clear whether using multiple corporate entities will be a workaround.
Investing in Different Property Types Danny, Calculating Cap Rate Add both to Cart Add both to List Clayton offered to buy the home as is and the family was happy to be rid of it. These are the only kinds of properties he invests in now, mostly three bedroom one or two baths, single-family homes.
Remember, these questions only need general answers at this point. You can’t possibly know the exact answers, but do your best ballpark them. The idea is to paint a better picture for yourself.
I was able to find boatloads of motivated sellers, make some ridiculous, low-ball offers to them, and when I found a seller who was willing to accept, I was able to buy their property outright and pay cash for it (usually just a few hundred bucks per property). Once I owned a property, I could turn around and list it for sale (usually within 24 hours) and flip it for a MUCH higher price than I paid for it.
Cash buyers are typically house flippers, but they might also be local rental property investors as well. Everyone is looking for a good deal these days, and a lot of people have the cash to make it happen if you can find them the deal.
USD/JPY Flipping Houses Books and Resources 15 comments Hot Deals Alerts (Soon..) Dale Osborn on September 2, 2012 4:06 pm
REIClub Gear Blogs Essentially, Buyer B jumps into the shoes of Buyer A and can purchase the property directly from the Seller, at the same price, at the same terms, with the same deadlines, everything that was stated in the original Purchase Agreement now applies to Buyer B instead of Buyer A.
Contracts Advance Canadian Real Estate Investment Coaching / Mentoring FIX AND FLIP ARV CALCULATOR
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