He is doing $250 K a month in transactions as a Factoring company for this guy and is receiveing 5% per transaction.

My best wishes to you in this transaction.

Steve is referring to a drop and swap where the LLC (partnership) is converted into a tenant-in-common structure by deeding (dropping) the real estate out of the LLC (partnership) and into the individual's names, holding for at least 12 months to be safe, and the completing a 1031 exchange (swapping).

as of Sunday, I am long on Top Ramen noodlesI think puts on Jenny Craig and weight watchers is a safe bet as well

Other local practices may vary from what I describe.The whole initial purchase transaction gets handled by a title company.

Outside of not having a negotiating platform, a sale. bank - buyer on a single property is a non-commercial transaction with falls under the Realtor regulatory guidelines.

I would GREATLY appreciate any, or all advice that you can give me as I have never been involved in this type of transaction, and I have to move quickly on this.TIArobbfrommt

But most people here seem to push rentals as a way to really make a sustaining income.With some of the deals out there I can see coming into a transaction and being immediately in the Black on a rental!

Are double closings a specefic type of contract or are they just two seperate contracts and two seperate transactions?

Some are relatively safe, and in some they set you on fire when they mug you, board the buses like Jesse James and rob every one on board, and there are places where gangs will take control of an entire apartment builing and hold it while they rob everyone in the building.You need to know the good areas from the bad and you need to know real estate law before you start putting your money there.I also suggest that you check into inheritance law if you are going to be a family unit.