What are the different options to do a short sale without any money of my own? Is it possible if the title company allows to do a same day double closing with buyer first then seller (as long as they don’t meet). Are there any issues with doing this, especially with the lender or other?
Also, is there any other vehicles that allow this to happen with no money of my own?
In advance, thanks for the advise.
You do need money and/or credit to do R.E. transactions…but just remember this…the money and/or credit does not have to be your own! You can use other people’s money/credit, depending on the type of deal you are structuring. On short sales, there is a good chance the bank that you negotiate a discount will want to see verification of funds.
Other areas that you can consider are:
- ‘sandwich lease purchases’
- ‘subject 2 deals’
- wholesaling to investors
- partnering with someone who has money/credit but not the time or knowledge to structure deals.
Hope this helps.
Thanks Rob. I’ll look into those other options you suggested.