Wholesaling in North Carolina

[Derek Johnson]

Hey guys,

Does anyone know if double closings are allowed in NC? Specifically the Raleigh area? New to wholesaling.

[Adam Schneider]

@Derek Johnson:

1. Double Closings are allowed...different attorneys have different ways that they do them. We don't use title companies to do closings in NC, we use attorneys (some BP comments will reference their State's way of closings, which often have title companies.

2. If you want to do a DC but don't have the dough, borrow from a lender. We fund SDDC's all of the time here in Raleigh.

3. In terms of assigning or double closing, $10K is a reasonable rule of thumb. The issue is whether a seller seeing the assignment fee will be upset and walk the deal or not. The investor on the back end will likely be less concerned about how much money you make, as long as the deal works for the investor.

Adam