Posted by BIGDADDY(MD) on July 05, 2002 at 11:19:24:
If your doing an assignment thats one thing but if your talking about doing a true flip (i.e. Double Closing, Dual Closing, Double Escrow, or any other name that it’s called,or you could use the more politically correct term I have coined a RAPID RETAIL), and your name doesn’t appear on Title for at least a brief moment in history, don’t be surprised if some day MEN IN BLACK (SUITS) and MEN IN BLACK (CARS) pay you a visit. So, when doing a true Flip, and they can be done, just make sure you CYA. In the old days investor’s could get away with that but I have always made sure that I went on title. Then there can never be a question as to how I sold a property that according to the Land records I never owned.Once, again an assignment can be a different story, your just assigning your interest in the property. Best of Luck, Do it right and sleep well at night.
BIGDADDY(MD)