Posted by DIANA on September 14, 2004 at 24:39:09:
I have been approached by an out of state investor who has a contract on a multi-million dollar property in my state (Calif), on which no money is owed. He wants to “flip” to CA investor because he is already very busy and successful in his own area. He wants 3.4 million. A qualified appraisal is in progress, but it appears there will be a spread of 200,000 to $300,000. My question: Is there a way to accept flip and then I flip again to an investor?
If so, how would the transaction be structured. Thanks