:helpI need help with a deal that I would like to pursue. I have come across a house that someone is wanting to assign his contract over to me to purchase. The property is in California and I live in Indiana. It does need some rehab work and I haven’t done an out of state rehab yet. However, the property has lots of equity built into it. So much so that I was wondering about passing it on to another investor to do the rehab work.
My problem is: What’s the best way to go about profiting on this deal, or can I?
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Is it possible to double assign a purchase contract to another investor? Have it assigned to me and then I myself will further assign it on to the rehab investor.
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Should I consider doing a double or simultaneous closing? Close with the rehab investor first and then those proceeds would pay to close with the original seller.
Or -
Buy the property outright and then immediately look to sell the property to the rehab investor? Wouldn’t I potentially run into title seasoning issues by doing it this way? Could I make this option work with a land trust?
Any and all comments would be greatly appreciated. Thanks.
Brian (Fort Wayne,IN)