HELP, I HAVE CONTRACT NEED TO LEARN HOW TO DOUBLE CLOSE

[homeslice]

Double close, dry closing, back to back etc are standard operational procedure for investors. Not illegal or unethical. Standard practice and an every day occurance. It's right up there with buy low sell high.
             

I certainly understand the principles of business.  i just personally feel double closings are unethical.  Let's just agree to disagree.  And I'm a non-violent guy, so there would be no punching in the face - Although I'd be really steamed.

If a double closing gets you angry then you (a) don't understand how the process works or (b) have a serious emotional disorder and should seek professional help.  Either way, if you find something as routine and ethical as a double closing to be objectionable, then you definitely don't have the stomach to make it in this business.

[blondie777]

Can anyone tell me how to double close. I have a contract and I don't want to keep it, so I can make quick money. I want to double close on the same day with an investor. Do I need to find a title company that will double close. Or I may assign the contract if I can't find a way.I head I can make more on a double close. Can anyone give me an idea???

Thats AWESOME!!!!  Let me know how it goes from a beginners point of view!  Just started reading about wholesaling, we've been investing.  Either here or email me at twenzel@1realservices.com. I would really appreciate it!

[bobw2829]

OK, well, firstly, I do understand how the process works - but I'm sure you would hope I did not to justify your response; and secondly, I am not emotionally disturbed - but, of course, I'm sure you would hope so - to justify the means of your reply.  In any case, homeslice, I respect your opinion.  If that's the way you want to conduct your business practices, you're entitled to do so.  Although I'm not really sure what you mean when you say "you definitely don't have the stomach to make it in this business" because I'm not in the business of double-closings.  I'm an investor and am interested in rehabbing houses and neighborhoods.  I'm a believer in actions not words, and what you choose to do says a lot about the person you are.  I'm a restorer and builder first, businessman second. 

[homeslice]

OK, well, firstly, I do understand how the process works - but I'm sure you would hope I did not to justify your response; and secondly, I am not emotionally disturbed - but, of course, I'm sure you would hope so - to justify the means of your reply.  In any case, homeslice, I respect your opinion.  If that's the way you want to conduct your business practices, you're entitled to do so.  Although I'm not really sure what you mean when you say "you definitely don't have the stomach to make it in this business" because I'm not in the business of double-closings.  I'm an investor and am interested in rehabbing houses and neighborhoods.  I'm a believer in actions not words, and what you choose to do says a lot about the person you are.  I'm a restorer and builder first, businessman second. 

That's nice, but you still haven't explained why double closings are unethical.  I'll give you a little hint though....they aren't unethical.  In any event, I wouldn't quit my day job if I were you.  It sounds like you simply aren't cut out for this business.

[GOD WNZ]

Hello Bob,
I have been to a couple barbeques and have been the main course at some...but today...Tag your it.
I think you meant to say you would be streamed if YOU sold your property back of market and the guy who bought it from you sold it at closing for a profit.
Yes that would fry me too. So don't do that. The comment about years of appreciation make it OK to profit is good. But...investors specialize in buying back of market to make profits today. You are in the same business.  I do my remodels in 3 weeks or less  if I could do them in 3 minutes I would. I/you would both prefer to get paid sooner than later. The double means SOONER. You obviously restore/remodel and build, if you could do that in 1 minute and resell would that be unethical . No it is not. You simply do your closes at a different speed, the double close is one of the Gold Standards in the business you are in. Someday when you sell something back of market..........be happy/thankful for your price and you won't end up steamed at your self. You have championed the sellers possible disdain for an investor profiting from the purchase and close, but we as a whole are usually helping people out of their problem property's. I have never Forced any one to sell me their real estate, I am sure you haven't either.
 Please pass the steak sauce, Darin

[bobw2829]

I think you meant to say you would be streamed if YOU sold your property back of market and the guy who bought it from you sold it at closing for a profit. Yes that would fry me too.

Guess I'm not making myself clear - apologize for that.  Thought the above statement was inferred. 

You obviously restore/remodel and build, if you could do that in 1 minute and resell would that be unethical?

Yes, because this is impossible in my line of work.

You simply do your closes at a different speed, the double close is one of the Gold Standards in the business you are in.

Here's where we differ in philosophies - I don't think about what I do in terms of closings/profits.  I think in terms of restoring a property, a home.  Luckily, such a philosophy allows me to usually make a profit in order to continue my restoration efforts.  Don't get me wrong, though - I still have to budget my expenses and scout appropriately.

You have championed the sellers possible disdain for an investor profiting from the purchase and close, but we as a whole are usually helping people out of their problem property's. I have never Forced any one to sell me their real estate, I am sure you haven't either.

Fair enough.

[GOD WNZ]

Good Morning Bob,
 I understand and miss the good old days of remodeling a home. When I could use my talents and artistic abilities. My buyers felt I had a vision not often found in a builder,...one that brought them joy of course. As I started shortening the time on the remodel I found I had to concentrate on the next deal as this one would soon be complete. After a few years I lost my joy for the remodel and grew impatient if I actually had to get my tools out. I now can still see the "vision" of the completed project, which helps me sell to the rehabbers successfully. It is now about the numbers for me and filling the pipeline. Some where on the journey the lure of fast profits and much available time took ahold of me. I still llong for the remodel that doesn't require me to "hurry up" to get it on the market.

 I understand and respect what you are doing.

I now have found a new level of extreme joy which doesn't require me to be on the job/remodel daily. I believe we do not work for the money, but what the money buys us.  In my case ...time with my family.
 Enjoy your time, Darin