Posted by Jack Compton on October 27, 2000 at 01:03:02:
I’m an investor in north Texas.
When I do an “all cash offer” I’m offering to cash out (buy the property) below market value for a cash on the barrel price.
When you flip a property, you only want to bind it with a deposit (unless you’re going to rehab, in which case you’ll purchase and then resale), but if you don’t rehab it, you can find a buyer before the closing and flip it to that buyer for a profit. You simply incorporate “or to my assignee” in the contract to purchase. That permits you to assign your rights in the sale to whom you flip to.
The CS program will work wherever motivated sellers live.
If you’re interested in out-of-state investments, I can help you find some deals in north Texas or Oklahoma. No charge. I’m not a realtor or broker, just an investor. Have a good weekend. —Jack