Many of you know that in Washington State there is a law is that says if you want resell a property within a year at least one of the property owners has to be a licensed and bonded contractor.

Without being able to buy it then resell it your options are pretty limited.

When the income is derived simply from buying and selling, especially if there is value added through the process, then that typically will be viewed as conducting a trade or business, and if done on a regular or repeated basis, would have UBIT exposure.So it is not the notes, but the buy, remedy, resell model that create the exposure.

For flipping SFRs, I'm not sure a lawyer does much if you are simply buying, fixing up, and reselling.

Then I resell them to my buyers.Bottomline: you need to be a cash buyer when you're dealing with banks.

More than likely I'll be paying cash....but for resell what do you think would be better to fix and flip?

Get a HML buy it yourself and resell if the deal is that good.

I live in Nashua, and was a past board member and Treasurer of NHREIA.There is a whole group of guys who do nothing but attend the foreclosure auctions and resell the contract to their buyers list.

If there isn't anything about a deed restriction, like not being able to resell for 30, 60, or 90 (or sometimes more) days then you can probably double close without any issues.If there is a restriction then you can still usually sell it just for some capped amount (I think usually 20%) more than you paid.If you can carry it then you can also wait out the restriction as well.This should be fairly explicit in the documents and if not then there shouldn't be any issues double closing.

My only hesitation (unless I am reading incorrectly) is that it seems like you will be reselling your list, which may violate the terms you have with your provider.