Wholesaling REOs

Bird Dogs, Wholesaling
1

Anyone wholesaling REOs to investors? I heard that they are starting to have some type of hold on title after closing where the property cannot be sold real fast as with a back to back closing.

Anyone doing land trusts to help facilitate this technique with Reos. If some can you give steps and tips.

2

Hi,

If your going to wholesale, wholesale to owner occupied buyers and investors both, nothing like cutting 7 out of 10 buyers out of the equasion and limiting your chances of success, but I'm just the 200 pound gorrila in the room!

Short sales have had restrictions on when you can re-sell the property! REO’s do not have restrictions unless state law prohibits immediate resale in your state!

Land Trust’s - Hmm

                  GR
3

That’s true but it can be a nightmare to coordinate and the owner-occ’s lender will make it tough for you to get paid. How do you get around the extended escrow period which is typical with owner-occ buyers? If you’re coming in as a “cash” buyer the bank probably won’t give you 45+ days to close.

4

How about doing it this way:

  1. Find a REO property and put under contract a 7-10 day inspection clause by partner
  2. Once partner inspect the property and want it he will be added on contract.
  3. Investor buy house.
  4. I quitclaim the property my ownership in the property.

This way no back to back closing saving a lot on closing costs and contract is cleaner so no red flags.