Maybe I’m missing something But how is a back to back possible when there’s a 90 day holding period for property? I guess I shoulda bought a fancy RE program? I’m asking cuz I see investers offering transactional funds. Hmmm. Seems I’m missing an important piece of the puzzle.
Who owns the property you are flipping?? If its a REO, then they may require a seasoning period ( the 90 day period you mentioned). If its a private seller then there is no seasoning time needed.
Its a simply ABC transaction where A= seller of home, B= you the wholesaler, C= end buyer (investor)
Your title company would perform a dry double closing. They would use the funds from the BC transaction to fund the AB transaction. You should make sure the title company you use is familiar with double closings and are investor friendly.
Im a new wholesaler but from what Ive heard you can wholesale REO properties by signing the contract between you and the bank as a LLC and sell the LLC to your end buyer for your assignment fee. This will then transfer your vested interest in the property to your end buyer and they will finish the transaction and purchase the home.
Good evening,
When writting the offer and your name is “Tradingdaisey and or assigns” you get legal permission to assign when the seller signs your purchase offer.
Hope this helps,
Darin