Option To Purchase Agreement (?2find End Buyer)
Hello All-
I really need some help. There is a house that I want to purchase by using an option 2 purchase agreement. I would like to find an end buyer, and then do a double close. I have bad credit and no money. How would I go about doing this. THe property was appraised at $1.5 Million last December and I have negotiated a deal of $1Million. I would like to buy it for $1Mil, and sell it for $1,150,000. How would I gey the money in my account fast enough to do this deal.? And were can I find an interested buyer? 
:-? :-?
Actually I found an investor to fund the deal, but his across the country and needs a little bit more time to do the deal because of a family situation. He can NOT leave the state anytime soon. :-x
I am sure there are alot of million-aire investors out there that wouldn't mind picking up an instant $400,000+ of Equity. I would want to. Even if they resold the property that is $400,000 of straight up cash in there pockets. This is truly a gem :-D
It would seem easier to put the house under contract with the seller for $1M. Then assign the contract to your buyer for a sum of $150K. If you do the otion to buy, there must be consideration but if you put it under conract and assign the deal you can use a prommisory note. Seems easier to me.
Yeah, I have recenly figured that out. I have been studying this stuff at a fast pace and it's so much data in this head of mine. I feel like a compuer screaming "overload", "overload!".
...And of course my Brain had to choose the hardest way to try and accompolish thi deal....
...It's now under contract and my Brain is now attempting to find the most difficult way to find someone to assign it to...
Any Suggestions???
Thanks!