Jumping into real estate investing means researching different strategies and tricks to make your deals profitable. One technique, wholesale real estate double closing, is worth checking out. It’s all about pulling off fast deals with less risk. But before you decide to double close, there are factors to consider.
What Is Double Closing?
It’s a savvy move in real estate where you buy a property at a wholesale price and then sell it to another investor on the same day. That’s why it’s called a double closing. The wholesaler’s closing happens almost simultaneously with the end buyer’s. You only end up holding the title for a short time with this type of deal.
When You Should Double Close a Wholesale Deal?
Double closing is typically not a real estate investor’s go-to move every time. Normally, you’d lean towards assigning contracts because it requires less upfront cash and lower fees. But, there are times when double closing is the smarter choice.
Here’s when you might want to consider the double close:
1. Lacking Agent Qualifications: In some states, a double close might be the best method if you’re wholesaling without real estate agent qualifications. It keeps the paperwork legitimate and avoids any legal hiccups, ensuring your real estate hustle stays on the right side of the law.
2. Need for Discretion: If your profits are in limbo and you’d rather keep the exact numbers discrete, choose a double close deal. This way, your earnings stay relatively unknown since the transactions happen separately. Each party doesn’t know how much you bought or sold the property for.
3. Cash in the Bank: If you can handle the closing costs of getting a loan or buying straight from the seller, a double close situation can be beneficial. It’s a move that can keep both parties happy and your profit secure.
Remember, there’s no one-size-fits-all in real estate. The right move depends on your situation as an investor and the deal you want to make. So, always consider the details before you double close.
Do You Need a Quick Cash Infusion for a Real Estate Deal?
If double closing is the best method for a deal, DoubleClose.com can be your go-to spot for the best transactional funding. We’re giving out 100% transactional funding, and the best part is there are no upfront fees.
Whether you’re hustling on everyday deals or playing in the big leagues with $1 million or more on the line, we can help. Our straightforward qualification process will put you on the fast track to sealing the deal. It’s time to hit those real estate goals in record time!