We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
May 26, 2022, 06:48:17 am
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
May 26, 2022, 06:48:17 am
Home Help Search Calendar Login Register

Author Topic: ___How Do You WHOLESALE a BUILDING?  (Read 1918 times)

Offline ckagahastian

  • Member
  • *
  • Posts: 5
___How Do You WHOLESALE a BUILDING?
« on: June 11, 2009, 02:04:29 pm »
Hello all,

So here's the situation. My partners and I have come across a number of 40+ unit buildings at a discount and I have buyers willing to move at prices that make all parties happy. The only obstacle now is what strategy does one use when wholesaling buildings?

Can you assign?
Can you double close?
Can you do a Land Trust?
Division of Proceeds?
etc.

Keep in mind however that one particular building we have that we can move the quickest is a HUD building. This requires HUD eligibility requirements. We're working on finding HUD buyers now and we have someone working on finding out how to qualify some of our current buyers.

The main question is what should our wholesaling exit strategy be for a 40+ unit building?

Offline aaronwilliams123456

  • Member
  • ***
  • Posts: 156
    • Laptop Carrying Cases
Re: ___How Do You WHOLESALE a BUILDING?
« Reply #1 on: June 11, 2009, 09:46:30 pm »
Wholesaling a building and a single family house requires the same paperwork. You might want to give your buyer a little more time when promising the seller to close since its a large purchase. The other difference is you may have to put a larger down payment down so they think your real instead of a ten dollar deposit with a private seller. Since its a HUD property your probably going to have to do a double close so you'll have to look for a lender that will lend you the money for one day. Good luck hunting.

 
.

 




SMF 2.0.15 | SMF © 2017, Simple Machines