Double Closing a Deal in Anderson · Real Estate Learning Community

Double Closing a Deal in Anderson

What's up yall! This deal happened over the weekend and I felt the need to share it along with give

some props!

A wholesaler (Let's call him Mike), reached out to me two weeks ago and asking if I'd be interested in this fire damaged house in Anderson for $30k. I went to look at it, had a contractor quote the repair work and I decided the deal was just too thin and risky for me. I told him I'd probably be at $15k I'd probably just turn it around and list it on the MLS. I didn't know at the time that Mike had it under contract for $16k. He told me it wouldn't work so I offered to partner with him and bring in some of my buyers for a 50/50 split and he agreed.

Here's the numbers. Mike locked it up for $16k. I got together with someone I knew who said they'd be a buyer at $20k. I called Mike and told him since it was so thin, I'd just connect my buyer to him and told him to forget about splitting the fee 50/50 since it was so thin. He called me back and told me after some thought, he'd rather just do the deal with me. We agreed on a number and instead of closing, then listing on the MLS, Myles suggested I throw it up on FB marketplace to see if anyone would take it now as opposed to waiting on closing. About 24 hours later, I had a contract signed to an end buyer and I plan to double close by the end of the month.

This deal required one drive to Anderson, some back and forth negotiating and one post on FB. This resulted in a 15k assignment fee. Thanks to Myles for recommending this instead of closing then flat fee listing on the MLS!

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