Four properties under contract TODAY!

My bad. I read in your post of 3/2 that you were "wholesaling" these properties. In our world, that means "assigning", not closing. Closing=Purchasing. If you had said you were "flipping" the properties, I would have understood that---sorry about that. My misunderstanding.

as always, you keep inspiring us with your deals, and teaching us how to do it!

thank you for your continued postings!
always a fan of yours,
Val

Correct me.if I'm wrong. If the banks where to find out that you are doing a double closing they will back out? Or ?

You have to do b to c because a-b has to be done without "a" knowing that your getting an assignment fee?
Sorry if this question is a little confusing lol

Robert

It is not an assignment fee. You are making your profit on selling the property at the B to C for more than you paid in the A to B.

Remember, we only double close the deals we can't assign.

The lender may cancel the contract or not accept your offer to begin with if they know you do not intend to buy the property yourself. Put yourself in the lenders position and think about this. Why should I (the bank) allow someone who does not intend to buy and has to find a buyer to make this deal work accept this offer???? I mean really!! Think about it.

All the bank, their agent and title company needs to know is I close with cash, period. Which I will do, it is just someone else's cash. Once the deal is done and the bank has their money do you think the bank cares?? NO!!!

Once again, all these strategies are worthless unless you know how to find wholesale deals and sell them to real cash buyers. That's what you need FIRST!! DEALS and BUYERS. Worry about the other stuff AFTER you can find deals and have a list of REAL cash buyers.

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Thanks Michael, i get it now. Ya all the bank should know and cares about is the Offer you and them made, and of course the cash! So both these transactions are beign funded through the cash buyer rihgt? AS well as the proof of funds?

I use MY POF on the A to B Offer.

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

I would never even have thought of some thing like that. I will be glad to use that wonder full piece of info. I'm about to put in 16 offers on REO's. This piece of info comes in at the perfect time. THANK YOU

Congrats Mike!

Your posts are always appreciated.
Little confusing but your comment on
doing your first deal comes from
good deals and cash buyers!

Do you have a certain zip code you
buy in Denver? or are your buyers
all over?

Have a great day,
Leilani

We are all over Denver and the surrounding areas. PM me if you find something!

Michael