lease option/ flip - Posted by lou

Posted by Terry(IN) on July 15, 2001 at 11:44:19:


You can either find the buyer or seller first. If you find the seller first, simply go to contract with the seller with a closing date 30 to 60 days in the future. Find the buyer that will qualify; do a simultaneous close, which means that you are closing with your seller within minutes of closing with your buyer. The title and money go from the buyer to you to the seller, with any access funds between what you are purchasing for and what you are selling for, remaining in your hand.

If you find a buyer, make sure they are qualified to purchase. When you find the home, get both contracts signed, go to close in the same process. If you need any further clarification, email me.


lease option/ flip - Posted by lou

Posted by lou on July 14, 2001 at 14:29:34:

if you do a sandwich contract on a property, how do you close the deal without borrowing money yourseslf first and then closing the second portion of the contract with your buyer. I read of post where people flip or do a double closings and walk away from the deal with cash in their pocket. How do they do this with no credit or cash?