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May 26, 2012, 02:20:01 AM

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Real Estate Investing Forums  |  Real Estate Investing  |  Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: what do you do if you cannot flip deal? « previous next »
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Author Topic: what do you do if you cannot flip deal?  (Read 662 times)
Prosperous1
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« on: May 06, 2005, 02:16:05 AM »

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.
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I am a newbie real estate wholesaler from Durham, NC. I am very interested in wholesaling to residential and commercial retailers in the Triangle, Triad, and surrounding areas of NC.  My goal is to earn enough money wholesaling so I can purchase my own properties at tax auctions and rent them to low to moderate income elderly or section 8 tenants.
Roger J
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« Reply #1 on: May 06, 2005, 07:40:08 AM »

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
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www.HickoryNCHomes.com Search for all Hickory NC Homes for Sale.
starrho
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« Reply #2 on: May 06, 2005, 10:29:07 AM »

Raj

I am new to REI.  Can you explain how does a double closing work?

Thanks

Lan
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Real Estate Investing Forums  |  Real Estate Investing  |  Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: what do you do if you cannot flip deal? « previous next »
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