Flipping Commercial Properties - Impossible?!
Hello,
I have found a lender owned hotel worth $2,242,000 that they are selling for $1,200,000. I have a interested buyer that is willing to pay $1,700,000. I would like to "flip" the hotel - put it under contract with the lender, and then with the end buyer shortly after. I talked to a title and escrow company and explained what I wanted to do. After speaking with their attorneys, they told me that if I wanted to do a simultaneous close, using none of my own money, that I would have to fully disclose what was happening to all parties involved. They said that because it is a commercial transaction, the same rules of "flipping" don't apply as they do with residential transactions. Is this true? If so, it would certainly blow the whole deal! Has anyone ever done this? There must be a creative way around this - without having to tell both parties - or at least the buyer - exactly and precisely what is happening.
Please help! I desperately want to make this happen.
James 
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