I’m under the impression that I’m a double closing that you would need funds upfront to cover the cost of buying the property from the seller then going back to the end buyer and finishing that contract and that’s where you would make your profit.

I’m under the impression that I’m a double closing that you would need funds upfront to cover the cost of buying the property from the seller then going back to the end buyer and finishing that contract and that’s where you would make your profit.

I am looking for an assignable sales contract for a Georgia wholesale deal.

So I signed it and then when the final contract was received it said that "Purchase shall not uses any third party financing" and "Funds from any third parties will not be accepted by the closing agent."

A hard money guy guy vaguely told me I would have to structure the deal as a land contract in order to Refi.

There's a rhythm to the contracts, to the inspection negotiations, etc. and you want someone who's done it over and over again.

I spent about 6-8K on the back and current taxes plus up keep on the property so I didn't get code violations, I have it under contract for 40K. 

It depends on the institution, some will have you sign a form as part of the contract and others make you sign a form at closing. 

The contract said that additional work must be agreed to by both parties - we were never informed that these items were outside of the scope. 

We did about $8k of rehab.We put $52k related to the deal in a qualified intermediary for a 1031.We pulled the $52k out and bought anther investment home with cash for $72,500 last month.The HOA won't let us rent it, so we're looking at selling the home.We essentially entered into a contract to sell the home at $105k but with this deal, we'd have to owner finance it.Terms: Sells price $105kDown: $5kInterest 7%10 year termI'm trying to figure out the tax implications of this transaction.