I ALWAYS tell the wholesaler to make sure they are transparent with the end buyer and their lender because MANY times if they aren't transparent about the double closing then the underwriter will catch it last minute and bring up the fact that the current deed holder isn't the wholesaler and that will kill the deal many time.There are some underwriters that don't catch it and things go smoothly.Then there are some conventional lenders that aren't familiar with the process and think it's fraud and won't lend on it.So sometimes I inform the wholesaler to let the end buyer go direct with the seller, do a single closing, Increase the purchase price by the amount of the wholesalers spread and put the fee on the SELLERS side of the HUD because the lender WILL NOT pay for the wholesalers fee, but if it's wrapped into the initial AB contract (now between the seller and end buyer) then the wholesalers spread isn't brought up, it's merely a line item on the SELLERS side HUD and nothing to do with the conventional lender and it will close "100%" of the time because it's a normal ordinary closing to that lender then.

It may also be in a different location that you live (northern ON, NB, AB, etc). 

If the A-B contract that you had the current owner sign calls for EMD, you as the wholesaler would be expected to put the deposit down with the attorney and once you have your B-C contract signed with the end buyer and the settlement closes, you would get your emd back along with the release fee.

My son graduates from Washington State University with a BS in architecture and minors in interior design and construction management.

They will ensure all your contracts are in order, A-B and B-C, plus escrow, then they’ll wire the funds for the transaction.

Shaker Heights, Cleveland Heights, University Heights are A/B class are what you are looking for.

You can get always get a decent single family for around that in a B grade area that is relatively turnkey and mught be able to get a duplex with 2 1 bedrooms as well. 

Hi Memphis Fam,What are your favorite area to invest as A/B neighborhood in Memphis ?

I don't want to refi out of the VA loan on my current house because I have a 2.875% loan and would presumably have to start paying PMI then also.Any feedback about the VA loan issues or my strategy in general would be greatly appreciated- I've been educating myself for a while now, but am also a total newbie in actually taking any (real estate) investing actions.Thanks,AugustOh, in case it helps to know, I'm located in the Midwest, so I could easily find a suitable 3 bedroom in a suitable area for under $250K and it probably would not cashflow at purchase in a B- or nicer area (maybe roughly break even), but shouldn't require much of a special deal to be able to within a few years.

It will take some time and effort to get that done.Or: if you want to be in a B class asset thats already stabilized you'll have to pay a premium, which means you are either not going to cash flow for the next couple years until rents have moved on or you'll have to bring 50% down on a nice 5M asset.Of course, why the heck would anyone invest that much cash for 10k in cash flow?