How to Find Properties Ideal for Double Closing?

One common obstacle in real estate wholesaling is balancing relationships with the original seller and your buyer. A double closing can help manage this issue, as it handles each transaction separately. Finding suitable properties for double closings can be challenging but rewarding. Here are some tips and strategies for identifying ideal properties for double closing deals.

Underpriced or Distressed Properties

• Long Market Time: Search for homes that have been on the market for a long time or have been taken off the market because they haven’t sold.

• Vacant or Neglected Homes: Look for homes that are vacant or neglected.

• Default and Foreclosure: Search public records for homeowners in default, facing foreclosure, or with liens or judgments against their homes.

• Cosmetic Repairs: Properties needing minor cosmetic repairs can be excellent double closing candidates. These are often sold at a discount but can be quickly improved to increase market value.

High-Demand Locations

• High-Demand Areas: Properties in high-demand areas are more likely to attract buyers quickly, which is essential for a successful double closing.

• Urban Areas: Urban properties, especially in areas undergoing gentrification, can be in high demand and offer significant profit potential.

• School Districts: Homes in reputable school districts tend to sell faster and at higher prices.

Direct Mail Campaigns

Direct mail campaigns can effectively reach property owners interested in selling.

• Targeted Lists: Purchase lists of homeowners in specific situations, such as those facing foreclosure or properties in disrepair. Sending targeted mailings can generate leads for potential double closing deals.

• Personalized Letters: Craft personalized letters addressing the recipient’s situation and offering a quick, hassle-free sale.

Auctions and Foreclosure Sales

• Foreclosure Auctions: Attend foreclosure auctions to bid on properties sold by lenders. These properties are often sold at a discount, making them ideal for double closing.

• Tax Lien Sales: Properties with unpaid taxes are often sold at tax lien sales, providing an opportunity to acquire properties at a fraction of their market value.

Online Real Estate Platforms

• MLS Listings: The Multiple Listing Service (MLS) is a valuable resource for finding newly listed, underpriced, or distressed properties.

• Real Estate Websites: Websites like Zillow and Redfin offer tools to filter properties by various criteria, making it easier to find suitable properties for double closing.

Driving for Dollars

Driving through neighborhoods to identify distressed properties, known as “driving for dollars,” can be an effective strategy.

• Distressed Properties: Look for signs of distress, such as overgrown lawns, boarded-up windows, or neglected maintenance. These properties may be owned by motivated sellers willing to sell at a discount.

• Vacant Homes: Vacant homes can be prime candidates for double closing. Note the addresses of vacant properties and research the owners to make direct contact.

Final Words

Executing a double closing can lead to significant profits. Finding appropriate properties involves leveraging market insights, networking, and focused efforts. If you’re looking for a transactional lender for your upcoming double closings, contact DoubleClose.com today. With our transactional funding, investors can secure the necessary funds quickly, allowing them to capitalize on time-sensitive opportunities.

Author Bio:

The author serves as a transactional lender for real estate wholesalers nationwide, facilitating deals ranging from under $1 million to larger sums. Obtain 100% transactional funding for your next deal with no upfront expenses. For additional information, visit https://www.doubleclose.com/.