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:
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