Jerry!!! The way you explain the whole double closing method is just genius!!! I had no real clear understanding of it but you cleared it for me. Appreciate that!!! Lovin your videos!!!!!
In California, escrow companies prohibit funds from the second transaction being used to fund the first. Also, at 12:07 you use language that would only work in one party escrow states. In CA for example, both parties have to execute cancelation instructions before EMD will be released under any circumstances.
Jerry, I get it! You're a genius Thanks again for your awesome content. I've binged 20 videos in a row to get my confidence back up after a failed first attempt last July.
Jerry you are genus. Our title company is experienced with double closing, assignments, transactional funding, etc. She is handling all closings. Jerry mentioned networking is key your success .
thank you for this video!!! you’re literally the best! i refer everyone over to your videos whenever they have questions because you always have a video for something!
Hello Jerry I am new to your channel. All the way from the State of NY & NJ. Man where were you over 30 years ago when got started in real estate as a realtor, then a Broker and now as a Wholesaler. Your teaching is Phenemonal. The way you explain things step by step a D no complications. Love your content. Thank you. Go over all your videos because you can never know enough. Look forward to continuing following you.
Jerry! You flipping genius! :) Who would you refer as an awesome escrow agent in Arizona that is skilled with double closes / in escrow? Thanks for all you do!
If you think finding a motivated seller or an interested cash buyer (investor) is hard, try finding an escrow company that does double escrow. I called at least 40 different escrow companies in my area (Riverside, CA) . Half of them didn't even know what that was. The other half knew what it is but simply didn't do them. Thankfully, just when I was about to give up in discouragement, I found one that does. I still have to meet their criteria to get them to double escrow, but I think it can work.
Hello, I'd love to connect with you I'm also in Riverside, CA. I'm looking forward to sharing my knowledge with you and hopefully, we can grow together to the top.
JERRY I need help! So when doing a double closings when I call title companies why do they require me to have the funds for the first closing? It could be because they aren’t investor friendly but how would I answer them.
Jerry happy to see this I really didn’t know the procedure but my title company has done it for me. I was amazed cause I didn’t know you could do this till they told me on one of my deals. But now I know how they did it and I know I have a great attorney that’s Wholeseller friendly. He has really took care of me I can call him anytime for answers and he keeps me in line with the rules. So greatfull. And big thanks to you and your amazing fast track class and for believing in me. Love u brother see ya again soon!
Awesome my friend. You are a true inspiration. Thanks for all your teachings. I am looking forward to working together this New Year. You Rock 🎉From David Ferrari Real Estate LLC Merry Christmas & Happy New Year.
Here you go! FREE Purchase & Sale and Assignment Contracts: flippingmastery.com/wcyt *Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com
Hey Jerry another overflowing wealth of knowledge video, question,…..in this method from after the A-B Purchase agreement ……….now the B- C (Wholesaler to EndBuyer) do you need a Sales Agreement now, instead of assignment agreement with the Endbuyer?
what happens if you and seller sign for first deal and second deal buyer doesn't show up, would you suggest to have language in contract for Buyer of second deal must have funds wired 24 hrs before closing date
Jerry,I get it. It's genius. However, like you always say, "seek legal advice before engaging in any transaction". I sought legal advice before trying to pull this trick in NY and NJ markets. It is illegal in these states to have the end buyer fund the whole deal. It is unfortunate but I'm glad I checked first.
Well I'm sure the title company that you are going to be trying to do it in would have told you pretty quickly that it couldn't be done so you wouldn't have needed to seek legal advice, they would have told you it was illegal
Jerry you are a flipping genius! but im more of a visual learner so could you do a look over your shoulder video of doing this showing you filling the contracts too
this IS Valuable content From An Experienced Real Estate Investor. its freaking awesome, provided clarity with the contracts i need. i already have eveyrthing plus more. its all about just focusing on getting the deal. a lot of value man thanks.
Here you go! FREE Purchase & Sale and Assignment Contracts: flippingmastery.com/wcyt *Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com
Thank you for getting back to me. I’m working on a deal thanks to you where it’s a probate property. And I’m worried because I don’t have the funds for the first transaction
Jerry loving flipster and literally doing everything you’re saying and wow the success and professionalism it’s bringing my business is outstanding! So We’re under contract and we have an offer that we want to accept and the spread is LARGE woohooo . So instead of having the buyer sign an assignment of contract what would they sign in order to “hide” our fee ? Another purchase of sale ?
Flipping Mastery TV a buyer brought this to my attention. The home we have under contract is a massive 3 story that can be rented out as a triplex 2 bd 1 bath each floor but he then he brought up a concern. buyer : “If they maintained the rental license for the Tri, than you taking. But it reverted single fam.”and I have no idea how To respond or find this info. Help
Attending this virtual bootcamp will leave you thankful you didn't miss it here: fcg.isrefer.com/go/vbcreact2199/Checkinr it gives you everything you will need from 5 Ways to Get Started in Small Apartments How to Make Seller-Financed Offers 16 Money-Making Small Apartment Strategies How to Wholesale Small Apartments How to Buy Small Apartments, Using Other People's Money 6 Steps to Start-Up and Scale-Up Complete Marketing Systems How to Find Deals How to Find Buyers How to Find Private Investors 1-on-1 Goal Session - Your Personal Plan
You can find something as helpful by Attending this virtual bootcamp will leave you thankful you didn't miss it here: fcg.isrefer.com/go/vbcreact2199/Checkinr it gives you everything you will need from 5 Ways to Get Started in Small Apartments How to Make Seller-Financed Offers 16 Money-Making Small Apartment Strategies How to Wholesale Small Apartments How to Buy Small Apartments, Using Other People's Money 6 Steps to Start-Up and Scale-Up Complete Marketing Systems How to Find Deals How to Find Buyers How to Find Private Investors 1-on-1 Goal Session - Your Personal Plan
This will be useful for wholesaling in North Carolina soon i heard that they are trying to get rid of assignment fees soon and the best work around method would be double closing
I spoke with a title company (PA) and was told a law passed in 2014 that in order to double close you must first purchase the agreed upon contract between the home owner and myself the wholesaler before the cash buyer comes in to close the contract between myself and the cash buyer so ill spend x amount on contract A and will get the money back once the cash buyer comes in to close contract B which i will get money back plus the profit? does that ring a bell by any chance ? also would the tax be double if the cash buyer was in charge of paying off 2 contracts?
Great info but a little confused. Whose paying the closing fees and whether buyer or seller agrees, how do you calculate what the percentage is to get an accurate fee? How many fees in total will the wholsaler have pay? And because of all the fees, what is the minimum profit you would even think of doing a double close? 50k?
So, instead of an assignment contract, you incorporate another seller contract with you as the seller and the end buyer as the money signature that covers all costs. Is that right?
Why wouldn't you have the end buyer sign first, taking possession later, then have the seller sign second so he can get funded right away? Is that an option?
So you as the wholesaler write the emd fee on the p&s agreement between you and seller. You are eventually going to send the emd fee to the title company and that is what starts the escrow correct? So when do you pay the emd to the title company? Is it before you bring in the buyer?
This is genuis. I just hope the title company I've already sent contracts to will do this. Wasn't one I was familiar with as it's my first deal. So the buyer already had this company. Goodness. I'll find this out today!
???Questions so there are no extra contracts Correct, am i using just 2 contracts the one that i obtain from the seller and the one for the buyer? and a double closing has much to do with time and coordination of signatures??? does that sound correct
You are so awesome!! Ty for this! I will also be making a couple of offers tomorrow and will hopefully have a deal or two to submit in deal genie for the finder's program!
![This Is Why You Should Double Close! [LIVE Deal Breakdown]](http://i.ytimg.com/vi/7KVjO7O5xj0/mqdefault.jpg)
![This Is Why You Should Double Close! [LIVE Deal Breakdown]](/img/tr.png)
Jerry!!! The way you explain the whole double closing method is just genius!!! I had no real clear understanding of it but you cleared it for me. Appreciate that!!! Lovin your videos!!!!!
Glad it helped!
This is the kind of pure content that Jerry provides his students. Thank you, Jerry!
In California, escrow companies prohibit funds from the second transaction being used to fund the first. Also, at 12:07 you use language that would only work in one party escrow states. In CA for example, both parties have to execute cancelation instructions before EMD will be released under any circumstances.
This is cap. Double closing is allowed but it has to be same day /next day.
Jerry, you are a flipping genius. THIS IS WAY MORE EDUCATIONAL THAN COLLEGE.
You are seriously a flipping genius. I have been searching every video you have for this because the LLC I don't fully understand.
I'm a Residential Mortgage Quality Assurance Officer for a Bank. I found your expertise in loan closing docs and congrats very impressive.👌👏💪
This is the exact video I needed. I was searching for it for a whole month but I'm glad I finally found it. Jerry, you're a genius!
Thank you Jerry. You are a genius and you are always helping us. You are the most trusted on TH-cam.
Jerry, I get it! You're a genius
Thanks again for your awesome content. I've binged 20 videos in a row to get my confidence back up after a failed first attempt last July.
Jerry you are genus. Our title company is experienced with double closing, assignments, transactional funding, etc. She is handling all closings. Jerry mentioned networking is key your success .
Jerry you discussed setting up LLC close with non assignment clause. “Sales 1st.”Does offer sheet include /And or Assign if property has double close?
What’s the name of the title company and info? Thank you!
thank you for this video!!! you’re literally the best! i refer everyone over to your videos whenever they have questions because you always have a video for something!
+Ashley Santos
🙏🙏😎😎
Hello Jerry I am new to your channel. All the way from the State of NY & NJ. Man where were you over 30 years ago when got started in real estate as a realtor, then a Broker and now as a Wholesaler. Your teaching is Phenemonal. The way you explain things step by step a D no complications. Love your content. Thank you. Go over all your videos because you can never know enough. Look forward to continuing following you.
+Minerva Perez
🙏🙏🙏💥💥
Jerry is the best expert explaining every single word the right way to be understood.
Jerry, I get it! That's genius!
👊👊😎
Jerry! You flipping genius! :) Who would you refer as an awesome escrow agent in Arizona that is skilled with double closes / in escrow? Thanks for all you do!
Jerry!!! You just saved my first deal!!!! THANK YOU!
If you think finding a motivated seller or an interested cash buyer (investor) is hard, try finding an escrow company that does double escrow. I called at least 40 different escrow companies in my area (Riverside, CA) . Half of them didn't even know what that was. The other half knew what it is but simply didn't do them. Thankfully, just when I was about to give up in discouragement, I found one that does. I still have to meet their criteria to get them to double escrow, but I think it can work.
Hello, I'd love to connect with you I'm also in Riverside, CA. I'm looking forward to sharing my knowledge with you and hopefully, we can grow together to the top.
What were their criteria?
That’s good news. I’m out here in DTLA currently searching for a wholesale friendly closing company.
Can you share a escrow company that you know double closes in SoCal please.
Luv2Trvl can you share which escrow company in SoCal double closed please.
Jerry continues to increase my marketing & sales IQ as well as my real estate IQ!
Extremely valuable! Thank you for being alive.
I never comment but You my guy is a BEAST
🙏👊
Holy crap jerry you’re an absolute big brain I love it
JERRY I need help!
So when doing a double closings when I call title companies why do they require me to have the funds for the first closing?
It could be because they aren’t investor friendly but how would I answer them.
I totally get it Jerry! Flipping amazing! Thanks for the value!
Jerry happy to see this I really didn’t know the procedure but my title company has done it for me. I was amazed cause I didn’t know you could do this till they told me on one of my deals. But now I know how they did it and I know I have a great attorney that’s Wholeseller friendly. He has really took care of me I can call him anytime for answers and he keeps me in line with the rules. So greatfull. And big thanks to you and your amazing fast track class and for believing in me. Love u brother see ya again soon!
+Scotty Free
Scotty my man! Hey when are coming back to FT?! Can’t wait to hang out with you again!
Flipping Mastery TV I’m going to. Making plans. Couldn’t get ticket changed this time sorry spelled wrong.
+Scotty Free
👍👍👍
Absolutely one of you BEST Videos!! Really needed this while in the 100% funding program..
Jerry, you are a Flipping Genius!! Excellent tips by the way at the end of the video.
Out of all the many different REI mentors out there Jerry just seems to put me the most at ease in the process.
+StupidRalph
🙏🙏🙏
Excellent explanation. Thanks for sharing
Jerry, you are definitely a genius. You make everything so easy to understand. Thank you!
Very good explanation and your voice is easy to listen to. 🎶
Awesome my friend. You are a true inspiration. Thanks for all your teachings. I am looking forward to working together this New Year. You Rock 🎉From David Ferrari Real Estate LLC Merry Christmas & Happy New Year.
I just want to comment Jerry Norton is fire on every video 🔥🔥
Is there a link to the double closing contracts?
Here you go!
FREE Purchase & Sale and Assignment Contracts:
flippingmastery.com/wcyt
*Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com
Thanks! So the same purchase and sale agreement we use with the seller we could use with the buyer?
wait so both contracts aren't executed before you double close in escrow?
And with the assignment contract you wouldn't put down your assignment fee?
Jerry I get it that's genius!! A year later this video is still so valuable!
Hey Jerry another overflowing wealth of knowledge video, question,…..in this method from after the A-B Purchase agreement ……….now the B- C (Wholesaler to EndBuyer) do you need a Sales Agreement now, instead of assignment agreement with the Endbuyer?
Correct
Jerry you truly are a genius, bringing out the genius in a whole lot of people! Thank you!
Thank you, this is my first deal and need to double close but did not want to pay any closing cost.
First time watching. Very impressive!!!!
Thank you for sharing insightful information 👍
what happens if you and seller sign for first deal and second deal buyer doesn't show up, would you suggest to have language in contract for Buyer of second deal must have funds wired 24 hrs before closing date
Yes only works if all parties sign and end buyer funds
Knowing this double close method with the recent news abt wholesaling is a game changer!! Flipping genius!! 😎
What recent news?
Jerry,I get it. It's genius. However, like you always say, "seek legal advice before engaging in any transaction".
I sought legal advice before trying to pull this trick in NY and NJ markets. It is illegal in these states to have the end buyer fund the whole deal. It is unfortunate but I'm glad I checked first.
@Jamesusmanov how did you either get out of the deal or fund the deal?
Well I'm sure the title company that you are going to be trying to do it in would have told you pretty quickly that it couldn't be done so you wouldn't have needed to seek legal advice, they would have told you it was illegal
Jerry can you do live videos of these. I want to see what that looks like on video of the conversation and contract.
Jerry u r a flipping genius very clear on this bless you
Love your videos Jerry!
Thanks for all the Insights🤩🤩
Jerry, you’re a closing genius
Literally a life savior!
You're a flipping genius Jerry
Should you create a different LLC for double closing? Or can you use your S corp LLC operation business to do this?
Your existing entity is all
Jerry you are a flipping genius! but im more of a visual learner so could you do a look over your shoulder video of doing this showing you filling the contracts too
Here you go
th-cam.com/video/DJYyJRPt_60/w-d-xo.html
this IS Valuable content From An Experienced Real Estate Investor. its freaking awesome, provided clarity with the contracts i need. i already have eveyrthing plus more. its all about just focusing on getting the deal. a lot of value man thanks.
Hello Jerry you are a flipping genius !! Thank you . And I would like a link to your assignment contract please thank you again
Here you go!
FREE Purchase & Sale and Assignment Contracts:
flippingmastery.com/wcyt
*Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com
Jerry....thanks for helping me get my mind around this....much appreciated....👍
JERRY You’re a Flippin Genius! Quick question though is this process legal in all 50 states? Also what title company supports this method?
Literally GOLD !! Jerry your a flipping genius
Hey Jerry quick question
Can you double close a probate property? Thanks
Yes
Thank you for getting back to me. I’m working on a deal thanks to you where it’s a probate property. And I’m worried because I don’t have the funds for the first transaction
@@Joel-lopez use my money
Usejerryscash.com
Okay I’m going to register for the webinar. How quick would I be able to get into it. I have a deal right now lol
Do you have to go in escrow to sign or can you do it all online threw docusign?
DocuSign
Amazing jerry you are a flipping genius. If you could can you make a video on how to open an LLC from outside the US.
Jerry loving flipster and literally doing everything you’re saying and wow the success and professionalism it’s bringing my business is outstanding! So We’re under contract and we have an offer that we want to accept and the spread is LARGE woohooo . So instead of having the buyer sign an assignment of contract what would they sign in order to “hide” our fee ? Another purchase of sale ?
Yes another purchase and sale agreement. So happy for your success!
Flipping Mastery TV a buyer brought this to my attention. The home we have under contract is a massive 3 story that can be rented out as a triplex 2 bd 1 bath each floor but he then he brought up a concern. buyer : “If they maintained the rental license for the Tri, than you taking. But it reverted single fam.”and I have no idea how To respond or find this info. Help
Attending this virtual bootcamp will leave you thankful you didn't miss it here: fcg.isrefer.com/go/vbcreact2199/Checkinr it gives you everything you will need from 5 Ways to Get Started in Small Apartments
How to Make Seller-Financed Offers
16 Money-Making Small Apartment Strategies
How to Wholesale Small Apartments
How to Buy Small Apartments, Using Other People's Money
6 Steps to Start-Up and Scale-Up
Complete Marketing Systems
How to Find Deals
How to Find Buyers
How to Find Private Investors
1-on-1 Goal Session - Your Personal Plan
Is there any specific verbiage in the second purchase and sell agreement??
youre my new sensei, God bless you man. much love
Can I do this with on market properties???
maybe will depend on title
Jerry you are a genius
Jerry what title co did u use when u did the virtual wholese in Indianapolis?
Hi Jerry, is a double close the only way that one can prevent the seller to see the whole sale fee and potentially kill the deal?
Yes
Thank you this video was amazing
wow just best video I have ever seen so specific and amazing thank you very much!!!!
You can find something as helpful by Attending this virtual bootcamp will leave you thankful you didn't miss it here: fcg.isrefer.com/go/vbcreact2199/Checkinr it gives you everything you will need from 5 Ways to Get Started in Small Apartments
How to Make Seller-Financed Offers
16 Money-Making Small Apartment Strategies
How to Wholesale Small Apartments
How to Buy Small Apartments, Using Other People's Money
6 Steps to Start-Up and Scale-Up
Complete Marketing Systems
How to Find Deals
How to Find Buyers
How to Find Private Investors
1-on-1 Goal Session - Your Personal Plan
I have a question. I have a property that has already been remodeled and wonder what i can do to put that under contract
This will be useful for wholesaling in North Carolina soon i heard that they are trying to get rid of assignment fees soon and the best work around method would be double closing
Watch this - th-cam.com/video/4W5_M5hsOXI/w-d-xo.html
@@FlippingMastery 🙏🙏
I spoke with a title company (PA) and was told a law passed in 2014 that in order to double close you must first purchase the agreed upon contract between the home owner and myself the wholesaler before the cash buyer comes in to close the contract between myself and the cash buyer so ill spend x amount on contract A and will get the money back once the cash buyer comes in to close contract B which i will get money back plus the profit? does that ring a bell by any chance ? also would the tax be double if the cash buyer was in charge of paying off 2 contracts?
Quality love this content!
Great info but a little confused. Whose paying the closing fees and whether buyer or seller agrees, how do you calculate what the percentage is to get an accurate fee? How many fees in total will the wholsaler have pay? And because of all the fees, what is the minimum profit you would even think of doing a double close? 50k?
JERRY I GET IT THAT IS GENIUS!
So, instead of an assignment contract, you incorporate another seller contract with you as the seller and the end buyer as the money signature that covers all costs. Is that right?
Yes correct
Flipping Mastery TV Could you also make a video about blind closing statements? I hear there some risk to double closing.
Thanks for your wisdom.
so...skiptrace, comps, and the contracts comes with flipster??need it, i need it
Yes
@@FlippingMastery just purchased!thanks
What about using blind huds? Where does that come into play?
Genius!! I love this.
That's the money shot right there guys. Solid gold.
+Mike Dre
🙏🙏😎😎
Jerry you are a flipping GENIUS!!!
Does it matter the order? For example can the end buyer sign first on B to C and then the seller signs A to B after?
Why wouldn't you have the end buyer sign first, taking possession later, then have the seller sign second so he can get funded right away? Is that an option?
Sure
So you as the wholesaler write the emd fee on the p&s agreement between you and seller. You are eventually going to send the emd fee to the title company and that is what starts the escrow correct? So when do you pay the emd to the title company? Is it before you bring in the buyer?
YOU ARE A FLIPPING GENIUS!!!!!
Indeed you are genius Jerry! Thanks for sharing this golden information.
Hello when you say end funds from end cash buyer ,Can that “cash “be hard money.Have a large closing that is on the cusp of being killed ..pls help
Dude is giving fireeeee gameee !!!
Hi there, would you recommend to get a LLC before doing a double close in escrow?
Hey Jerry you said something about a Lawyer I was wondering can you explain more about the Lawyer topic.
This is genuis. I just hope the title company I've already sent contracts to will do this. Wasn't one I was familiar with as it's my first deal. So the buyer already had this company. Goodness. I'll find this out today!
Hi Tonetta! How did it go with this method?
Jerry u are a genius
Is this legal in IL please answer me !
Jerry I got it! Thank you so much for the information!
Perfect Explanation!! Jerry i get it. Your a genius!!!!
Great video. Is this different than a Blind HUD?
JERRY produces the highest value videos forsure!
+Wm Jordan Klindt
🙏🙏🙏
#UberFACTZ
He really does and I appreciate how quickly he responds to our questions.
No doubt
???Questions so there are no extra contracts Correct, am i using just 2 contracts the one that i obtain from the seller and the one for the buyer? and a double closing has much to do with time and coordination of signatures??? does that sound correct
You are so awesome!! Ty for this! I will also be making a couple of offers tomorrow and will hopefully have a deal or two to submit in deal genie for the finder's program!
you can learn to make small deals consistently deliver huge profits with this webinar fcg.isrefer.com/go/rphtp/Checkinr/