Technique On Retailing Like Wholesale Deal (?)

I was reading some guys idea to take houses over and flip them to retail buyers taking them subject to and finding a good retail buyer using owner financing and flipping out the private note to a note buyer. His idea basically is to make 5% real fast on the deal and getting some money in the back end in a fashion that is quick and simple without doing rehab.

Does anyone know anything about this? Does this seem plausible? His whole thing is based off of margins: if you get the house at 80% because they want a quick sale, you can find a retail buyer for 100% owner financing with 5% down (immediate cash), then flipping out the note at 90% and making the other 5% on the back end.

Anyone care to comment? Thanks

Comments(1)

  • ray_higdon6th July, 2005

    I am sure it is possible, just need to be efficient at it
    [addsig]

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