What is the best way to flip presale properties? - Posted by Adrian the Investor

import · August 19, 2005, 9:10am

Posted by Randy (SD) on August 19, 2005 at 11:02:49:

I would use a trust with a third party as the trustee, you can “flip” the beneficial interest in the trust.

import · August 19, 2005, 9:10am

Posted by Adrian the Investor on August 19, 2005 at 09:10:29:

Ok CRE gang,

Here is the question of the day. I have several presale condo opportunities that I can tie up for a mere $750.00 down each. The will not be built out until January of next year. But they are going up over $10,000 a month in value.

What name or entity can I tie them up in now, that will allow me to flip them to a buyer once they are finished?

I had thought of using a LLC and then just transferring the LLC to the buyer at the end and letting him purchase the property. But I have been told that does not always work because if the title is not in a persons name, the mortgage cannot be sold on the secondary market.

With as many condo flips taking place across the country, mostly by investors, there must be a way to tie these up and flip them with out doing a double close. We have excise tax here in Washington State and I want to avoid paying it twice per deal if possible.

Please educate me on how to do this.

I have 12 condo’s ready to be picked up.

Thank you.

Adrian the Investor
253-230-0777
dealmakeronline@yahoo.com