Double Closings on Luxury Condos

[Krissie Cole]

Good morning Bigger Pockets!

When I lived in Florida my uncle had us investing in new construction luxury condos. They were a hot ticket item. We would pay 8k down and 6 months later when the property was completed we had a buyer lined up which would usually net us 25k off the deal. The same day we closed the new buyer closed. I never had to do much except invest the 8k. Now that I don't have my uncle to help I am trying to learn how to do this process in Virginia. Is this considered wholesaling? Is it legal to do a double closing in Virginia? Is there a publication/blog I can turn to for guidance?

Hope you have a successful day!

Krissie