Simultaneous Close A Viable Way To Make $$$?
Hey everybody,
I saw an article on simultaneous close and wanted to put this out to people who have used this technique to tap the market of buyers who do not qualify for conventional loans.
Please respond with your list of the biggest pros & cons to using the simultaneous close with residential real estate.
The way I see it, one of the pros is that you tap into the market that people who do lease options tap into - buyers who cannot qualify for conventional mortgages, and may lack the savvy to go to an aggressive broker who can get all types of loans done, even if rates and terms are sky high.
I had thought of three ways to market the simultaneous close:
1. Market to ALL real estate brokerages and top producing regional agents as an alterative if their buyers get stuck not closing a loan
2. FSBOs
3. Expired Listings
Any others you can think of?
Is this a hard type of transaction to "sell" people on?
I look forward to hearing from you. Thank you, Dave 
What exactually will you be doing? Are you buying the house and paying cash and then selling? Or getting financing and doing a sub2?
Good LUCK and HAPPY HOLIDAYS
Ted Jr
I am acting as a broker to a note company, actually a friend who is doing this, and we will split any created profits.
1. Network with people who run into buyers who do not qualify (just realized mortgage brokers would be a good source too) but want to buy a particular house
2. Work with seller of that house to set up owner financing, with simultaneous close to note buyer can discount the note, getting seller cash, and consummating the deal
All residential real estate, 1-4 unit.
Make sense? Thanks, Dave