Flipping with Options

Maybe someone here can answer this for me:

I am going to use options to flip. Do I need a sales contract with my new buyer or can I simply sell my option to them?

Comments(1)

  • bjsmooths24th September, 2002

    Good question. Depends on how much time and money you want to save/make. If you purchase a property on an option, you can turn around and sell that option to an investor. However, ensure that when you get the option on that home, that the investor has something to gain. If you sell to an end buyer, I would sell on a contract. You can get much more down and your buyer is usually responsible for all the maintainance for the property. Once you've established the note, you can turn around and sell the note for cash.

    good luck,

    [addsig]

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