Does anyone here have experience flipping properties using option contracts, assignment, or something similar? I see people doing this online, and I understand how the process works, but I’m a bit unclear on the legality and how these folks are actually going about it. One lady seems to just send mail, get a signed purchase agreement, list the property without purchasing it first, and then do a double closing through title once she finds a buyer. That seems maybe slightly illegal to me? I spoke to my lawyer and he also seemed to agree that listing properties that I don’t hold title to can be a bit of a legal gray area.
Anyone here have a process of doing this that works for them, or any tips on how to send mail and do this within legal bounds?
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