All Forum Posts by: Duane Ortega

@Octavian Cross

@Octavian CrossForgot to mention that if your transaction doesn't close, we give you a one time credit for the processing fee up to six months since it was paid for your next transaction.  Lastly, if you take advantage of our VOD (verification of deposit) for $495, the processing fee is waived for that specific property.

@Octavian Cross

The $395 processing fee is charged up front.  Feel free to lookup my profile, find my website's contact info, email or call us for any other questions.

Looking forward to doing business with you,

Duane.

@Bill Gulley

Agreed.  I was referring to resale restrictions actually.  But yes, as a funder, I definitely advocate using transactional funding to close the first transaction.

@Account ClosedBottom line is, yes, it can be done as long as there are no restrictions on either end of the double close (run this by attorney or title to verify).

@Jessica A. Smith

Double close is the way to go as Steve mentioned with bank owned properties. Usually banks require a POF (proof of funds) or VOD (verification of deposit - actual available funds) which we can help you with (feel free to lookup my profile for our website). Once AB contract (A=bank/seller, B=wholesaler/you) is locked up , you must lock up the BC contract (B=wholesaler/you, C=end buyer) which implies that you must have a good buyer's list that is ready to buy. Double closing works best when the C buyer has cash or uses hard money. Conventional loans for C buyer may or may not work since funders like us required end buyer's funds to be wired in to escrow before we wire our funds.

Subsequently, you arrange to close on the same day with your title company.  If you need a referral for title companies in Texas, lookup my profile and email us for this information.  On closing day, the AB transaction closes and then the BC transaction in that sequence.  You receive your wholesale profit less all closing costs and funder's costs (such as us).

Hope this helps,

Duane.

You used to be able to use end buyer's money to close deals but not anymore.

Hi Eric.  Please lookup my profile and email us requesting for CA escrow agents.  One of us will get back to you in the morning.

Best,

Duane.

@Eric Johnston

We've funded double closing in CA many times.  They are definitely a viable way to wholesale so it's worth your consideration.  We have escrow agents with whom we've worked previously that we can put you in touch with so you can consult with them.  Feel free to lookup my profile and email or call.

Good luck,

Duane

I can vouch for Shannon.  Her company is one of the top companies I would recommend in your area.  We've done numerous deals together.

@Christopher Arnold

Glad you are amped!  Please email us (lookup my profile) and ask for a list of escrow companies in California and one of my guys can email it to you as I'm out of the office.  I actually fund double closings nationwide vs. buying.