My realtor friend of mine found a reo at $256K but it is worth about $357K…If I put this under contract can I wholesale this and assign this to another investor…What would be the best thing to do in this situation…This is alot of equity…Please help

Do you want to receive some money for this assignment? You could double close but you have to have an investor first. Otherwise, you will have a property, which, I think, you are buying for cash, and you could sit on it for nobody knows how long.

Typically REO’s will not allow an assignment. That means you would need to find a title company or lawyer who would do a double close.