I believe this was already mentioned, but if you choose to assign the contract to the end buyers for whatever fee you want to receive, the lender for the end buyer, especially if it's FHA or any type of conventional lending, may frown against this practice, and may not lend the money.The reason why double closings and assignments work so well with wholesalers to other investors is because most investors are coming with cash, hard money, private money or LOC's not conventional financing.Hope you find a way, but this may be hard in this case.

Are you just going to carpet and paint or are you gutting the whole thing?

I do also hope that you choose to share that wisdom with the rest of us by participating here on the forums.

I paid him $45K, put $2500 into roof and paint and resold it it in ONE DAY for $62K.

If the lender chooses to sue the borrower and obtain both a foreclosure order, and if the proceeds of the judicial sale of the real estate are not sufficient to repay the loan balance, then a deficiency for the balance.

The deposit is used to repair/clean/paint anything that the tenant did to the apartment.

slaclair:First, park your money in a safe place - T-bills or CD's (if you choose CDs only park up to $100K in each CD (and at a different institution), as that's all that is insured.Then TAKE YOUR TIME.

Nothing serious, paint, a tiny bit of sheetrock repair and some light fixture updates on the older one.Anyone have a feel for how much off their asking price they'll entertain withouth laughing at my offer?

I never paid anyone to paint, until 2 years ago.

MILLIONS OF PEOPLE CHOOSE CERTAIN FIELDS AND WORK BECAUSE IT REFLECTS THEIR PASSIONS AND PURPOSE - NOT JUST THEIR "PURSE" OR POCKET!