13h • General discussion
Double Closing in Wholesaling (Simple Breakdown)
Had a question on today’s call about double closings, so here’s the quick version
A double close is when you actually buy the property and then resell it immediately to your end buyer.
Instead of assigning the contract, you’re doing two transactions:
A to B: You buy from the seller
B to C: You sell to your buyer
Both usually happen the same day or within a short window.
Why use a double close?
- You don’t want the buyer seeing your assignment fee
- There’s a big spread and you want to control the deal
- The seller or buyer doesn’t allow assignments
Example:
You get a deal at $300KYour buyer is at $350K
You close on the $300KThen resell at $350K
You keep the difference (minus closing costs)
Transactional Funding (this is key):
I’ve got a lender who will fund the deal at 0.75% of the loan amount
Quick example:
$300K purchase0.75% = $2,250 cost
So if you’re making $50K on the spread, paying $2,250 to control the deal and keep it clean is a no-brainer.
Key things to know:
- You’ll need funding (transactional funding or your own cash)
- You’ll pay closing costs twice
- You need a title company that knows how to handle it
When I use it:
Only when the spread is big enough to justify the extra costs and risk.
If the deal is thin → assign it
If the deal is strong → double close it
If you want a connection to the transactional funding lender, I can intro you. 0 down and they finance it all I’ll get you set up… and yeah I’ll take my referral fee too
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Double Closing in Wholesaling (Simple Breakdown)
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