Double Closings

[Summit]

These deals sure were a ton easier 5 years ago!! LOL

[Stanfield]

Well, let's make this more complex.  I have this situatuion.

I have a wholesaler that I buy from time to time.  Double closings.  Using hard money so title seasoning not an issue.

Now I have some other investors wanting to by in on my deals.

So I might be looking at a triple close? 

A to B(wholesaler) to C(me) to D(fellow investor)

Now I know you are asking why the hell would you do that!  Well, the volume of properties is what wholsaler and I are after.  We both are doing very low fees to pick up volume.  15 properties a month.

This is just something I am exploring doing.  Ideas on best way to handle the deal?

Goal is to keep my source hidden from other investors who are "customers" and "competition" in the same market.

Also, since I don't have issued with title seasoning I need to be careful of the sourcing of my buyers that their financing might?  But, again.. I am using their money to purchase house and get a "commission" on the deal.

Thanks

[tampasteph]

You can just assign the contract between you and the wholesaler to your end buyer.  I don't know how you are going to keep the two from crossing paths, though.  I guess you could show up to the closing and try to keep them from exchanging contact info. 

To answer your question about your buyer's financing- yes, you will want to be sure their lender does not have title seasoning requirements, and that they will not have a problem with the contract being assigned.

Good luck,
Steph

[Stanfield]

Not worried about them crossing paths at closing.  I am in Indiana.  The person I buy from is in Arizona.  The person I sell to is in California.

All done via mail and EFT.

I thought the assignment might work, but that just seemed too easy.