creative closes

Can someone tell me what Back to Back, Double, Simultaneous closes and short sale flip is all about and when and how to best utilize them? Lastly, what are the benefits?

Back to back, double, and simultaneous closes are all the same thing. All it means is that you buy and immediately resell (usually the same day). IMHO the main benefit is that the buyer and seller don’t know how much you’re making in the deal.

A short sale is where you convince the bank to take a lower pay-off than they are owed.

One caveat with respect to a back - to back closing is that title transfers twice. As a result you may have to pay double documentary stamp taxes which can be very expensive. I think an assignment of contract works much better and will cut down on transaction costs.

The problem is when dealing with REOs the lender won’t let you assign, so I am trying to learn about different ways to get around that. Not to mention different ways to buy and sell without credit check or money. Any ideas? Also, what about the other items I mentioned? Do you know how they work?

There is no minimum time a property can be held in Trust. I use Simple Land Trusts to facilitate “Joint Venture / Partnership” arrangements. We have a Seller place the property in the Trust one day and sell it to one of the Beneficiaries or other party the next.

Da Wiz


I have been reading about your trusts and have also checked out your website. I have a few questions.

  1. Can you avoid paying doc stamps by transferring RE through the trust or had the legislature caught onto this?

  2. Suppose you want to sell your beneficial interest in a trust to a new buyer, is it difficult for the buyer to obtain financing (if the seller is not willing to provide it)?