The Miami Double Close

On paper it was a $40K spread after fees, here’s what I really walked away with

Author

Pablo Ottenwalder
September 12, 2025

Words I like: Most people are NPC’s - Pablo Ottenwalder Jr.

Pablo’s Perspective:

When I first locked up this Miami property at $230,000, it looked like easy work- a clean $40K spread if I could wholesale it for $270K.

But during negotiations, the seller’s title company made me remove the language that allowed me to wholesale it from the contract. That meant I couldn’t assign it, and I had to pivot fast.

I knew it was still a solid deal, so I decided to use transactional funding: buy the property and resell it the same day. I also knew that choice would get expensive but I wasn’t about to lose the deal.

Here’s how the numbers actually shook out:

  • Buy Side (A → B): Purchased at $230,000, plus $825.90 in attorney fees, for a total of $230,825.90.

  • Sell Side (B → C): Lien search, wire scan, e-recording, seller docs, city/county taxes, a non-ad valorem fee, and transactional funding fees totaled $6,706.26.

After everything, my net profit was $32,467.84 - still a win!

Moving forward, I’ll stick to assignments whenever possible and keep double closes as a last resort this one cost me about $7K extra.

The upside of a double close is a clean paper trail: no assignment fee on record, and buyers stay focused on the property instead of your margin. The trade-off? You take on all the costs yourself.

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💡 Did You Know: Monopoly Was Supposed to Teach You a Lesson

Most people think Monopoly is just a fun board game. Wrong. It was originally designed in 1903 by Elizabeth Magie to show how ruthless monopolies crush small businesses and workers. The irony? By the 1930s, it was turned into a game that celebrates crushing your competition. Lesson: narratives can be flipped, and who controls the story often wins.

-Pablo