Is anyone here wholesaling REO’s in Houston, if so how are you handling your closings? Double Close, Simultaneous closing, Selling LLC…what’s your strategy?
You can do A to B and B to C closings using a transactional funding source. That’s what I’m working on. Banks and their Realtors usually won’t accept contract assignments.
The only way you can wholesale a real estate deal using an assignment of contract is if your end buyer is paying cash or if their funding source is a another private investor who understands the deal. If your dealing with a REO deal you can usually find private money for one day.
Couldn’t be further from the truth AaronWilliams123456. I use local banks and credit unions to fund my deals and when I’m wholesaling to O-O or investors they use the same. No need for HML, private money, cash, LOC’s, etc.
I’ve done it to many times to count where my end buyer uses financing to buy my house. Most of my wholesales I buy and sell on the same day and I have ZERO problems.