Finally ready to startWholesaleing after much analysis paralysis. I do have a couple of questions and appreciate any information. I live in Michigan, (Macomb County) and would like to know whether the the LLC, or Land Trust Method is most popular when Wholesaleing REO’S. Also a detrailed explanation of each would be apprecieated Also anyone know of a good real estate attorney who is familiar with Wholesaleing that can review my Contracts?
Thanks for your help. :biggrin
You can wholesale REO’s as long as you own the REO’s.
Just do the LLC. A land trust is to protect each property individually. Only use a land trust for buying and holding.
Do more research on the land trusts. I think your questions should have been LLC or INC (not land trust) for wholesaleing.
And you can Wholesale REO’s with our owning them. Its just complicated so educate yourself so you don’t lose any $$$$$$
The only way you can wholesale REO’s is bring a end buyer to the table to buy the REO’s from the banks. Banks want to see a verified proof of funds to get your hands on the Reo’s.
NOT TRUE R.E.S.
I wholesaled a HUD Monday for $8000. That is what transactional funding is for. Yes, you can not assign the contracts if thats what you mean.
Transactional funding is the only way to go.