Posted by Ryan on January 14, 2009 at 16:54:32:
fundsforflips.com will put up the money for the double close and only charges 1% I believe. Check that out.
wholesale REO’s - Posted by jay
Posted by jay on January 12, 2009 at 11:31:50:
There is a way to wholesale REO’s and i was wondering if anyone here knows
how to do that and help me make a deal, i am a newbie and i have an REO
property under contract for 127,000, 3 unit multi and ARV is 270,000,would
love to wholesale for 150,000 or more,because all it needs is some TLC,but
someone told me there’s a clause but there’s a way to assign REOs. Please help
me if possible, thank you.
Re: wholesale REO’s - Posted by Virgil Horner
Posted by Virgil Horner on January 21, 2009 at 09:28:27:
There’s some guys out of California at farbelowmarket.com that I know
do this all the time. I’ve been trying to get ahold of them myself to get
some more details, but haven’t had much luck getting through. I
believe they use a land trust to get around the no assignment and then
they sell the beneficial interest in the land trust, but there’s still a few
questions that I have. Maybe you will have better luck getting through
to them.
Re: wholesale REO’s - Posted by James Harris
Posted by James Harris on January 12, 2009 at 17:05:23:
Jay, it is possible to “flip” an REO. However, you will have to do a double close. There are resources that will allow you to buy without using your own credit or moeny as long as you have a buyer ready to close on the same day.