When you’re getting started in real estate investing, one of the first realizations most people have is, "You need money to do this." Only, you might not have $20,000 in savings or a rich uncle that can loan you a fortune. So you think, where can I find the capital to buy my first real […]
In my last post, we uncovered three potential problems with double closings. Generally speaking, they are a overcomplicated, difficult, and occasionally dangerous technique. You can almost always use a different strategy to flip the property, such as an assignable contract or a simple purchase. Both strategies are far easier, especially for beginners.
But sometimes you have […]
Double closings are the hottest selling silver bullet for investors interested in flipping houses. They allow you to:
Get around financing requirements by quickly moving money from one account to another
Keep your purchase price secret by never exposing your contract
Work with less liquid buyers because the "assignment fee" is financed
Sounds perfect, doesn’t it? […]
Financing is always a problem for house flippers. Because of recent problems with mortgage fraud, many lenders have instituted seasoning requirements. They require you to wait 3-6 months before selling the property or a higher value than your purchase price. When you’re trying to flip a house, this is a big problem. Here are a […]