I would like to Thank REICLUB, this is a great place for Newbies like me, looking for ways to change my financial destiny for myself and family. As well as Thank you to all of you that share your wealth of knowledge and experience. 
Now, for my question, I have struggled with this for 2 wks.
I do a L/O with seller for $100K
Then L/O with new TB for $5K option and a 2 yr lease contract for $130K.
After 2yrs TB chooses to excerise their Option and is tring to get financing.
How do we do a double closing when I am not on the title, I do not own the property I only on the rights to the property, right?
All lenders I have dealt with would need me to be on title for some period of time. How, do they get their financing and I get my 30K. ???
Please help, i need to understand this before I do one
Dshelton
I’m actually in that position with my first deal, already in progress. Let me tell you what I’ve done so far.
The scenario is pretty close. It’s been a couple of years, and the TB would rather pursue a purchase than face an increase in rent. Good choice.
I was concerned about the same thing with the title companies (not possessing the deed, etc.). To explore that concern, I simply pulled up a list of local title companies in Yahoo, and just went down the list and asked “Will your office perform simultaneous closings?” I got one response that it was illegal to flip, one response that I had to have two separate loans, and a couple of positive results. Bingo.
However, one of the escrow officers I talked to (who has done this sort of transaction before) says that the real problem isn’t actually finding a title company. The trouble is finding a lender who isn’t afraid to finance a “flip” transaction. He says that the best way to make things go smoothly is to have full disclosure to all parties. Make your agreements available to the lender so that they can be sure they’re not being defrauded in some way.
So anyway, that’s where I’m at a loss. I’ve considered going through the phone book and looking down a list of mortgage brokers… but I’m guessing there’s probably a better way to go about this.
Well, I figured out today that the phone book is NOT a great place to try and locate a lender who can help me. That was kind of a mess.
Can anyone who uses this section direct me to some resources for finishing up my first REI deal? Essentially it all boils down to finding the right lender, I guess…
To recap, this is a lease-option, and I know I could either perform a “flip” closing to my tenant-buyer (if I can find a lender who will do it), or I guess I can also assign my option to buy. I’m not sure how to do that last part, but ANY help on this would be greatly appreciated.
The problem that I am finding is that (I am a loan officer), with a Sandwich L/O is I am not on title I have only bought the rights to the property. So the TB can not buy from me unless I first close with my seller and have time for the title to be recorded and then I may have one lender that will then do the loan for my Tb of course if they qualify for the loan. Most lenders will require that I be on the title for 6mo to 12mo before they will do the loan for the TB. It is called seasoning.
My thought is to either go ahead with a private lender or hard money lender for 30-60 days and then close with the TB’s.
If anyone has had experience with this please let us know.
Thank you 
what is a TB?
TB stands for your new tenant buyer.