All Forum Posts by: Laron John

Hello, I am planning on helping a colleague with a wholesaling endeavor. They already have the deal under contract and I may have an end buyer for them. I am just wondering how I can close this thing out.

If I sign an assignment agreement between my colleague and myself, can I then assign the assignment agreement to my end buyer? Or is there an easier method to go about this?

Let me know your thoughts.

Thanks for the insight @Dmitriy Fomichenko . I hope all is going well with your endeavors.

I am sure we can connect and do something @Steven Trang . I am also looking to buy and hold properties, however, I plan to buy and hold out of state. What types of properties and in which market(s) are you interested in holding?

Hello everyone, 

Clearly I am new, my name is LaRon. I am from San Francisco, California. I was referred to bigger pockets by a fellow investor and I am glad that he did so because I have learned a lot from the forums, blogs and podcast so far. I am a novice investor, interested in learning more about real estate in regards to flipping and wholesaling. I have yet to join a REIA here in the bay area so a referral to a good one would be great. I desire to network with members in California as well as those out of state in Arizona, Ohio, Missouri, up state New York, and Florida. I currently have a few bird dogs who find vacant/abandoned houses for me here in Northern California. If you are a flipper I am open to partnership and can bring discounted properties your way. I too want to start flipping properties, and some good contractor referrals would be awesome. I look forward to hearing from all of you.

Big thanks to all the great members here at bigger pockets, 

Best Regards

Thanks for the information @Martin Scherer . It was to my understanding that if you have a purchase agreement with the seller, that gives you "equity interest" in the property which shields you from being charged for practicing without a license because it would be no different than if the owner decided to sell the home themselves.

The problem I have is finding an alternative method to close a wholesale transaction. I have come to knowledge that a double escrow close is out of the question in California. I was hoping someone who is successfully whole selling in California can elaborate how they close their deals. 

Here are some alternative wholesale closing methods that I have heard of but am not familiar with: 

1. Assignments

2. Swap Buyer

3. Add Buyers & take Buyers off

4. Become the Bank 

5.Take an equity position and get paid on the back end of the deal.

If someone could explain these concepts that would be great.

I am a novice real estate investor. I am hoping to get insight regarding how to close a wholesale transaction in California. I have spoken with various title companies in the area which told me that they can't handle double escrows transactions due to law; which gives rise to my question, what is the simplest way to close a wholesale deal in California?