I spoke with someone who said the purchase and sales was better than the option to sell when flipping, as long as the PS is assignable. what do you guys think?
I would think that it is better to sell your position so you avoid closing costs, but sometimes you end up taking a discount for that. If I purchase then sell I am out closing costs, but I can get a higher appraisal when I sell. So, I guess it would be on a case by case basis.
A complete closing then flipping can be a nightmare because the recorders office has not caught up with the paperwork on the first transaction. Time and headaches can cost the investor, in our opinion the clean break with the cash is the assignment within ONE transaction.
I would think that it is better to sell your position so you avoid closing costs, but sometimes you end up taking a discount for that. If I purchase then sell I am out closing costs, but I can get a higher appraisal when I sell. So, I guess it would be on a case by case basis.
Hope that helps,
Kyle
A complete closing then flipping can be a nightmare because the recorders office has not caught up with the paperwork on the first transaction. Time and headaches can cost the investor, in our opinion the clean break with the cash is the assignment within ONE transaction.
Eric & Rosa
[addsig]