Real Estate Investor · chicago, IL · Member since 2009 · 41 posts · 0 votes
Someone please help me out with this.I have a property i'm getting for 32k.It is a 12 unit building.6 currently rented out.6 vacant.I have some investors interested and willing to pay up to 80k for it.The investor i'm getting it from wants the 32k wired asap.I was trying to get this under contract, then assign it to my end buyer.The seller doesn't want to do it that way.He wants me to do a double close.I'm not too big on double closing.I am a beginner at investing.I've done alot of research, but this is my first deal.Any advice about how I should do this deal will be appreciated.
Thanks for the reply.I've never worked with a hard money lender before.This is my first deal.I have worked with a investor friend of mine before, but they were just simple assignment of contracts from homeowners.What should I expect from a hard money lender?How does the process work?
Also, if you've got a great title company that is investor friendly and not only understand double closes but does a lot of them, I'll bet you money they know and work with a HML that will get it done for you.
Does anyone have any information about double closing in the state of Massachussetts. About closing company, state law, title comapany. I am just getting ready for a double closing next month