Posted by Jason-DTX on December 02, 1998 at 24:17:24:
In your example of a $55k house you would need to get it under contract for 15-20K and then sell it to another investor for around $25K and let the other investor do the work. That is more in line of what Legrand is talking about. You need to buy his course (or someones) before you go and buy a junky $55k house for $40k. Once you get the basics down from a good course then a title company will take you through a simultaneous closing.
You have the right way thinking - flips before renatls when you start out. Keep trying to learn as much as possible. Legrand’s material is excellent, it boosted my REI business tremendously.