OfflineI have a seller who is unable to close on a pre-construction, ocean-front, condo in Panama. The contract is not assignable. Expect certificate of occupancy in late February or early March. 30-40% ROI. How do I set up the deal with the investor; back-to-back closing or other method? Thanks.
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If it is truely not assignable, then you have 2 choices, close on it or let it go. With that type of profit, you will want to close on it. If you have the cash, go ahead and close and then do a double closing with a buyer. If you don't have the cash, you will need either a hard money loan or bring in an investor.
Since it is in Panama, you if you go the route to get a hard money loan, you will want to google to try and find lenders in that area. Most lenders in the US will not lend out of the country.
You may have a better chance of closing by finding an investor. You can form a partnership in a LLC to deal with the investment and the splitting of profits. If you can't change the buyer listed on the purchase agreement, then you will need to have another agreement with your investor spelling out how this deal will go down.
Good luck.