Wholesaling in TN

[Jake Jones]

Hello Bigger Pockets. 

I'm brand new to this so I apologize if this question has been answered but heard something on a different website that sounds a bit grey to me.

They said that as part of the wholesale if you have an "investor friendly" title company and the end funds where already wired prior to your closing you can do what is called a dry close and use the end buyers funds to pay off your purchase contract?   All left over proceeds where cut back to you by the title company.

They stated you do not need your own funds if it is a FSBO but needed to double close and have your own funds if it is an REO property.

Like I said brand new to this side of real-estate and certainly don't want to get into something I should not be doing.

Any thoughts are appreciated.