How to Wholesale REO Properties!

Hey Gang!

During today’s foreclosure crisis many real estate investors are looking to take advantage of all the opportunities that banks have to offer.  Because banks are in the business of making money and their not in the business of selling real estate they are looking to liquidate their properties at deep discounts.

Real Estate Investors everywhere are taking advantage of these deals, but the saavy investors are buying these deals at discount prices and then wholesaling them to other investors to make huge profits.  These investors are doing this by using land trusts.

It works like this, you find a property or a bunch of properties through the bank then you set up a land trust to buy the properties under.  Once the bank agree to your deal you go and find buyers for your properties whether they are on your buyer’s list or you have to search for them.  There are many ways to find buyers and yes they are out there.

Once you find a buyer all you have to do is sell your beneficiary rights in the land trust to the buyer.  You will sell your beneficiary rights in the land trust to the buyer instead of assigning the contract because most (if not all banks) don’t allow assignable contracts.  But if you were to buy the property under a land trust and then sell your rights in the trust, banks will not know if you’ve assigned your contract because your land trust is still buying the property.

The first thing you need to do is find the bank REO properties and I’ve provided a free video series on how to wholesale REO properties below.

You can watch this video series by clicking the following link:

Discover How to Wholesale REO Properties Here >>

7 thoughts on “How to Wholesale REO Properties!

  1. Hello,

    When buying an REO from a bank, through a Realtor, if you have a 10 business day inspection period, when do you need to put down an Earnest Money Deposit, and will $500 do?

    When you DO have to put one down, can you wait during that 10 business day inspection period, and get your deposit from your Wholesale Investor / Buyer, who you’re flipping the REO to, and use their money as a deposit to put down?

    In other words, can you use your Wholesale Flip Buyer’s deposit as your Ernest Money Deposit?

    Thanks,

    Jim Sikes

  2. Hey Jamel,

    have you ever used transactional lending for these types of deals and actually closed on the property then closed with your buyer? have you had any trouble with the banks putting clauses in the contracts stating a property cannot be sold within a certain time frame say 30 days or more in order for the banks to stop the investor from making their money?

    Thanks Jamel.

    Jim

  3. I read similar article also named Investing in Pre-foreclusure makes more sense, and it was completely different. Personally, I agree with you more, because this article makes a little bit more sense for me

  4. I would like to get some more information on selling REO properties via a land trust. Is the land trust something I set up before I start looking for property…how do I set up a land trust…how do I sell my beneficiary rights in that land trust?

  5. Jason, I believe you have the REPO system. You can find your answers in module 4. If you still have any questions after that please use the coaching forum.

    Thanks!

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