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Updated almost 9 years ago on . Most recent reply

User Stats

24
Posts
8
Votes
Andy W.
  • Investor
  • Grand Rapids, MI
8
Votes |
24
Posts

...or assigns - that's important, right?

Andy W.
  • Investor
  • Grand Rapids, MI
Posted

I have a signed purchase agreement for a two unit property (to close on or before 06/10/16). There's little if any instant equity, but it cashflows really well, so I'm reluctant to walk away, however I'm going to come up short at closing so exploring other options.

Because I've never investigated wholesaling a property (until now), nor was that my intent when I entered into the purchase agreement, I only signed it with my signature, and didn't include the words "or assigns." I'm guessing that makes this contract ineligible for wholesaling at this point?

Most Popular Reply

Account Closed
  • Professional Investor
  • Dayton, OH
36
Votes |
113
Posts
Account Closed
  • Professional Investor
  • Dayton, OH
Replied

@Andy W. If you like the property and it cash flows well, why don't you borrow from a private equity fund?  There are a lot out there now who lend to investors.  I am forbidden from naming names here by BP, but one I know that might be a good fit for you is in Austin, TX.

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