Manage episode 287501425 series 2469663
This is where an investor lines up both the original owner and the end buyer to close on the same day, a few hours apart.
For example, let’s say Luis found a motivated seller willing to sell their property for $5,000.
Luis will sign a purchase agreement with this motivated seller, locking in the sale price.
Then he’ll go market the property for sale, at say $15,000… before he even buys it from the original owner.
Once he has someone interested in purchasing it at $15,000, he will schedule the closing for both transactions to occur on the same day, making the $10,000 difference between the original transaction and the final transaction.
This is how a double closing works - and the powerful thing about it is Luis is able to scale his land business very quickly because he is not using any of his own capital to acquire his inventory.
This is a very common strategy among house wholesalers, but it’s not as common among land investors… and it might be a way for people with limited funds to scale their business quickly. So needless to say, we’re excited to have Luis on the show to discuss exactly how he does this in his land business!