Assignment of short sales

double close, meaning you actually purchase with money from the seller called the A-B transaction (don't worry if you don't have any money, I have a feeling someone will be here shortly to offer you a solution to that)

then you immediately resell it to an end buyer that you have already lined up called the B-C transaction. Cash out, do it again

Edited: 06/26/2010 at 10:03AM

Will Barnard

Rehabber · Santa Clarita, California

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Oct 13 '09, 02:56 PM

Sarah,

Are you loking to flip to end buyers and if so, are the properties in turn key condition? If so, then all you need to do is double close as Nick suggested. And yes, I can provide the transcational fudning for you so you can compelte your short sale deals with no money out of your pocket.

If you are looking to flip a short sale that is not turn key, you will need to buy with cash and have enough for the repairs and hold costs. Of course you also have the option in that scenario to double close it to a rehab investor who does have the cash and then of coursse, you could use my transactional fudning for that deal as well.

Hope that answers your questions.
Nick- thanks for the lead in.

Edited: 06/26/2010 at 10:03AM

Will Barnard, Barnard Enterprises, Inc.
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Website: http://www.barnardenterprises.com
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Nick J.

SFR Investor · Scottsdale, Arizona

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Oct 13 '09, 03:02 PM

Originally posted by nationwidepi

Sarah,

And yes, I can provide the transcational fudning for you so you can compelte your short sale deals with no money out of your pocket.

And right on cue LOL!!! :mrgreen:

Sarah, it's really not that hard, if you want, pm me and I'll give you the 'secret' to succeeding in short sales.

Edited: 06/26/2010 at 10:03AM

Will Barnard

Rehabber · Santa Clarita, California

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Oct 13 '09, 03:04 PM

Did you just say "secret"? The secret police are going to be made at you Nick! :)

Edited: 06/26/2010 at 10:03AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com

Nick J.

SFR Investor · Scottsdale, Arizona

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Oct 13 '09, 03:09 PM

Ha! that's why I used that word.

It's no secret, just not the mentality of most newb short sale investors so I get to pretend like I know a secret :)

Edited: 06/26/2010 at 10:03AM

Scott Hubbard

Rehabber · Tucson, Arizona

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Oct 13 '09, 03:11 PM

Originally posted by motiv8td

Originally posted by nationwidepi
Sarah,

And yes, I can provide the transcational fudning for you so you can compelte your short sale deals with no money out of your pocket.

Sarah, it's really not that hard, if you want, pm me and I'll give you the 'secret' to succeeding in short sales.

Is the secret spelled with a J and a V?

Edited: 06/26/2010 at 10:03AM by Scott Hubbard

Will Barnard

Rehabber · Santa Clarita, California

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Oct 13 '09, 03:15 PM

Very good Scott!
JV deals are the ticket and the secret!

Edited: 06/26/2010 at 10:03AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com