Can a short sales purchase be assigned or use a double closing? I am looking to by with little or no out of pocket money! Thank You! ???
You cannot assign a short sale to another investor but you can execute a double close to sell it for a profit without having to obtain your own financing. However, lately I’ve found it much easier to negotiate the short sale, obtain my own financing (via interest only loan/ 3 months seasoning), and then sell it to another investor around the 3rd or 4th month. I’ve also kept a few as rental properties because of the large positive cashflow and the equity that I’ve been able to create. I will have no problem selling them within the next year if I want and making between a $20,000-$25,000 profit on a quick sale.