Hello I am a newbie who is interested in flipping/wholesaling short sale deals. Are there any DealMakerCafe members out there who wholesale or flip short sales? Has anyone run into a situation where they have convinced the loss mitigation dept to short sale a property and all the paperwork has been done, but you were not able to flip/wholesale the deal even though you had investors lined up? How do you avoid this situation? Any advice would be greatly appreciated? Thanks in advance.
Why can you not flip/wholesale a short sale deal? You did say that you had the investors lined up, correct?
If so, just close on the short sale yourself, and then resale to your investor (a double closing).
Maybe I’m missing something from your question.
Raj
Raj
I am new to REI. Can you explain how does a double closing work?
Thanks
Lan