Short Sale Double Closing
I am another Newbie. I have read alot of books and material on REI. I would like to find properties to get under contract then assign but the market here seems to be saturated with investors. Short selling caught my eye but the problem I have is no money to close a deal and not great credit. I thought about negotiating a short sale then assigning the contract but from what I have read from others the lender would not go for the assigning so then the next thought is a double closing. Would this work for my situation? Is there any seasoning rules involved? Any suggestions or comments I would very much appreciate. Thanks for your time :-D
Find a mortgage broker who can originate an acquisition loan for your potential buyers...... then, steer the Buyer to that broker. Understanding your exit strategy limitations will help you in the structure of your deals. Good Question.