assign or double close?
Hello all! I'm looking for some advice this deal, and for other deals in the future 
I have a property under contract for $45k,needs $30k in repairs, mkt value= $130k. I want to flip it for $60k($15k to me). Is it better for me to assign my contract or " double close"? 
( what guide lines to you follow to determine which way you would "quickflip"? ) 
Way to go on the deal my good man!
I would think a double close is appropriate if you want to maximize your profit. You can assign it but a wise Investor won't give you that much for it because there's no guarantee that he/she will close. You assign it to him and the seller attempts to back out for some strange reason.
I say see the deal through and do the double close. Make sure your title company handles double closes and get a closing agent that's experienced in these. Good luck!
I agree, Go for the double close. It will be safer in the long run. You'll maximize profits and see that the deal goes through.
If you choose to assign... then I'd be sure you know the sellers intentions quite well. As well as have some sort of trusting relationship with the investor.
[addsig]
Depending on how much time you have on the contract consider marketing as usual and assign the contract. I'd only close myself if I was going to rehab it myself.
If you close first the investor might back out. Then where are you? In court with no money and fighting for specific performance on the contract or damages because your contract has now expired and your being sued by the seller. Not a good place to be.
If you mean by "double closing" a simultanious closing then that may work but it would increase the costs and till runs a risk. I've seen closings were the buyer didn't show up or his financing didn't show up or something else went wrong.
Minimize your risks and let the investor/buyer worry about theirs. If the investor/buyer doesn't want to take an assignment for your full price consider what less cash in hand with no further risk is worth to you.
IMHO: Sometimes (usually) it is better to take less money and move on rather than try and sqeeze every last dollar out of a deal.
Does anyone know a good book on the double closing system? I'd like more information before I try it. I'm out here in northern calif. where fixers are way over 1/2 million..Are any of you in this area, I'd love to chat.
FutureInvestor,
If you can swing it, pick up a copy of Steve Cook's Wholesaling book. It has the nuts and bolts you need to get started. And it's sold here at TCI.
http://www.thecreativeinvestor.com/Product144-Wholesaling_for_Quick_Cash.html