Double Closing Proof of Funds

[Kyle Nazarek]

Hello,

I have a question about the actual execution of a double closing. I understand that you will be on the chain of title for a few hours after buying the property before the selling happens later in the day, but do you actually need proof of funds and write out a check at the first closing, despite the end buyer coming in with the money for the second deal later in day? Basically, are you able to find the purchase in the first closing with the funds from your end buyer in the second closing?

[James Wise]

Originally posted by @Kyle Nazarek:

@James Wise why would I need a sophisticated business model when the system is quite simple? Find motivated buyers and motivated sellers then put the two together? You don’t need a real estate license to make serious money. It’s so easy that I do this on the side of my full time job of 12 hour days that has nothing to do with real estate. I haven’t used a real estate agent for buying and selling my own primary homes, just use a lawyer because it’s TOO EASY OF A JOB and don’t need to shell out thousands of dollars in commissions when I sell my own home. People are slowly shifting to that mindset as well. Is your strong language on these blogs just a marketing scheme for your tutorials and podcasts? I think so

 Well for one a license is required to broker real estate in the USA. Connecting motivated sellers with buyers is brokering real estate. So there's that.....