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Updated about 8 years ago,

User Stats

158
Posts
58
Votes
Mitchell Benson
  • Willis, TX
58
Votes |
158
Posts

Wholesale deal turned into owner finance

Mitchell Benson
  • Willis, TX
Posted
Hello all! I have began starting my journey with wholesaling in the Detroit area. I have a few properties under contract and would like to get these sold before I dive deeper into the market. "Get my feet wet" so to speak... I have a deal that is currently under contract, for $1,200 with a simple purchase sale agreement. I have a buyer that would like to owner finance the house sales price at 5k with 2k as a downpayment. Where I am stuck is... How do I structure this deal to help me use as little of my money as possible? I am thinking maybe do a double close... but does that need to be done with a title company? Who's name does the deed go in? If you feel like you know exactly what I should do please explain! Thank you!

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