Hello I am a wholesaler in the San Diego ,CA area looking to wholesale some REO’s ,but I want to make sure I have the complete process right. So can anyone explain how to wholesale REO’s from A-Z please ?
Darren Crawford
Hello I am a wholesaler in the San Diego ,CA area looking to wholesale some REO’s ,but I want to make sure I have the complete process right. So can anyone explain how to wholesale REO’s from A-Z please ?
Darren Crawford
yes, it’s a little more involved than that, but that is the gist of it
good luck
hassan, I’m new to this but why create an Assignment Contract if you Double Close? Don’t you use one or the other?Herbster
you dont neccessarily need to, but you don’t have title until you close
I would suggest you find your local REIA and talk with seasoned investors and get a good course to help you get started out right.
The worse thing you can do is to set yourself up for painful errors just starting out, it can become very discouraging.
Just an addition…
If you plan to wholesale REO’s in many cases they will have a non assignment clause built into their contract…In which case you would need to have a pocket llc ready to buy the home in that name…Then sell the llc
Many investors fail to realize this because in most case you turn in 1 set of contracts to get your bid accepted then once accepted the bank will give you a 15 page CYA contract that won’t let you scratch your A$$ without asking.
Good luck