Posted by rita on March 08, 2000 at 21:41:20:
the way i flip these is i write the contract deal in my name then find a buyer and assign it to them, the lender shouldn’t have a problem with the assignment contract.
Can someone PLEASE give me advice on a flip? - Posted by John
Posted by John on March 08, 2000 at 15:31:53:
I’m new in this investment world and not sure how to proceed with a flip opportunity. I found a great little home that is $ under value & I plan to advertise tomorrow to find a buyer. I talked to a loan originator about my plan and he said the only flaw he could see is that when my buyer applies for financing, the title policy would show ownership in the seller’s name and that could be a problem. Am I missing something here? I would appreciate any help!
John
Re: Can someone PLEASE give me advice on a flip? - Posted by Michael Morrongiello
Posted by Michael Morrongiello on March 08, 2000 at 23:07:16:
Be prepard to fund and close in your name taking title and then reselling to the ulitmate owner user.
OR you can consider the use of a seller financed mortgage that would be generated upon the sale from YOU to the ultmate owner user buyer. That mortgage when sold is converted into cash. The cash is then used to consumate your purchase agreement with the original seller.
A creative & experienced note funder will make this deal happen, althougth there may be some concern over a large run up (over 25% or more) in value.
This may be an easier way to travel.
Michael Morrongiello
Re: Can someone PLEASE give me advice on a flip? - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on March 08, 2000 at 18:22:43:
Scroll up about 5 posts to the post titled PERFORMANCE MORTGAGE. This post contains a very good answer to your question…ED
Re: Can someone PLEASE give me advice on a flip? - Posted by Terry Vaughan
Posted by Terry Vaughan on March 08, 2000 at 15:56:57:
John:
You will find several good articles on “Flipping” in the “How To” section of this web site.
Try starting at this link: