I have a lady who is interested in one property that I discovered. The property is a post-foreclosure and is owned by the bank. I could probably get the property for $7,000, it's worth about $45,000 after about 10 grand worth of fix ups.. This is my first deal attempt and i'm only looking to make $1,000. Is there an easier way to do this deal other than doing a double close with the bank? I was just trying to think of a creative idea without being too creative for the bank.
hi polishdave,
I know that on REO (bank owned) properties, most of then have clauses in the contract that will not let you assign it. I believe you could make an offer as an llc and then sell the llc to the person who wants the property. for example use the address of the house as the llc name (123 main st LLC) filling for a llc in most states is very easy and inexpensive, and you can do it online. hope this helps
trwilliams