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Updated about 9 years ago on . Most recent reply

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19
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3
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Kahntineta Ford
  • Mansfield, TX
3
Votes |
19
Posts

Double closing Vs Contract assignment In Texas

Kahntineta Ford
  • Mansfield, TX
Posted

Hello my fellow wholesalers, we are almost ready to dive in but need some advice on whether to pursue the double closing vs the contract assignments method.  It's my understanding that with the CA (contract assignments) the closing costs will only be paid by the end buyer as we would never fully "own" the property.  But is this the way others have done this in Texas? 

Most Popular Reply

User Stats

59
Posts
23
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Kelcey Land
  • Flipper
  • Colleyville, TX
23
Votes |
59
Posts
Kelcey Land
  • Flipper
  • Colleyville, TX
Replied

Ryan Spinola is right about the 10k rule of thumb, and I appreciate him saying that it also depends on the buyer. Personally, I really don't care what the person that is doing the legwork profits as long as the numbers work for me. But, I know some people really resent it. I don't mind because there is an unavoidable acquisition cost either way to finding properties. I have found the people that grumble are the people that don't value the time they had to spend to find the deals. With 3 flips closing the last two weeks, I'm actually in a spot where I have more funds than deals. You can add me to your investor list. 

BTW, I love an assignment deal! It keeps costs down for our team. 

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