I have a mortgage broker who says she has a list of REO properties, what i wont to know is the steps to wholesaling REO properties.
Thank you
I have a mortgage broker who says she has a list of REO properties, what i wont to know is the steps to wholesaling REO properties.
Thank you
It’s the same as wholesaling any other property except that you can not assign the contract. You’d have to do a double closing or simultaneous closing. You could also attempt to use the LLC method as well.
Step #1: Get a contract on the property
Step #2: Find your end buyer
Step #3: Double Close to your end buyer
as long as you can get them so cheap that a cash buyer can get them you should be ok (under $50k).