Flipping contracts - Posted by Mike

Posted by Mark Nyman on May 14, 1999 at 19:19:40:

I don’t understand why it would be hard to flip to someone who wants to live in the property.

Why is that the case?

What would you have to do to make it easy?



Flipping contracts - Posted by Mike

Posted by Mike on May 14, 1999 at 14:39:44:

Hello all!

I pretty much understand flipping a contract on a dump to a rehabber, but what about flipping one on a house in decent shape to someone who wants to move in? Is this done much or would you buy and then try to sell retail? Also, is it common to get an assignable contract on a house (reo, vacant) that is listed with a realtor?

Many thanks in advance!


Re: Simul. Close - Posted by Stacy (AZ)

Posted by Stacy (AZ) on May 14, 1999 at 17:26:02:

Sure, you can assign a purchase contract to a retail buyer. If you don’t want to go this direction, due to the problem of them seeing your profit, sign a separate new sales contract with the retail buyer and close both contracts simultaneously…you keep the spread.


Re: Flipping contracts - Posted by Brian W(IN)

Posted by Brian W(IN) on May 14, 1999 at 17:17:52:

As far as flipping goes, it will be very hard to try and flip a property to someone who is looking to live in it. You can ,however, use a lease-option with an assignment, asssigning the property to someone at retail prices. To answer your last question, yes-it is possible to assign a property which is listed with a realtor, I am currently doing this.

Good Luck in your pursuit of success in this business!!!