CleverInvestor.com's Whiteboard Wednesdays - How To Flip REO Properties.mov

How To Wholesale REO Properties For Quick Cash!

Real Estate Investor Training From www.CleverInvestor.com. In this Whiteboard Wednesday Dana Van Hoose from CleverInvestor.com shows both new and advanced real estate investors how to flip REO properties without needing any cash!

Investing in Real Estate Owned (REO's) is a great acquisition strategy in today's depressed real estate market. But why tie up all your cash, or have to get a loan from a transactional lender or private money person when you could flip your purchase contract with a little creativity? Learn more about real estate investing by seeing our other free training videos at http://www.StartClosingDeals.com.

Also, come network with other like minded, tech-savvy, aggressive real estate investors at http://www.CleverInvestor.com.

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Education

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• clever
• investor
• dana
• van
• hoose
• real
• estate
• investing
• flipping
• reo
• owned
• whiteboard
• wednesdays
• how
• to
• flip
• houses
• homes
• properties
• cleverinvestor
• startclosingdeals

[darlene1ist]

..ok.. Q: the part at the end when i get my "wholesalers fee".. what do i sign as proof of the amount that is owed to me? and and when do i sign that in order to get paid?? ?..

[cleverinvestor]

@darlene1ist You would fill out an "Assignment Form" with the cash buyer and turn it into escrow along with your purchase and sale agreement.

[jmdmillionaire]

are you going to the bank title co to tell them that you want them to wire them the 95k?will it be possible that the bank title co are investor friendly?

[cleverinvestor]

@jmdmillionaire No. We use our title company to close the B-C transaction and those funds get wired to the banks title company where it funds the A-B transaction.

[stormchaser5137]

Very informative video! I'm new to real estate investing and this video helped clear up some of my questions. I'm struggling with how I'm going to get started. I'm thinking about buying and rehabbing a reo home first to get my feet wet. I'm a licensed GC so the rehabbing part will be easy to me. Its the whole "finding the deal" part I am trying to learn.

[cleverinvestor]

@stormchaser5137 Well we hope you don't get too hung up on details! Just find another successful investor in your area and mimic what they are doing. You can even offer to Bird Dog for them for a month or so just to learn the ropes on finding and acquiring good deals in your area! Best of luck.

[darlene1ist]

thanx soo much for posting this vid. i am brand new to wholesaling and i was scared to do reo's.. i thought it would be to complicated, but u make it so step by step, i feel that i can do this without any problems.. and..p.s. i caught "big foot" he has about 5 properties a week to look at, and a friend i just made by networking is a remax associate ...can you sayyyy MLS!!!? LOL thanx again (o;

[curtisjohnson2010]

Awesome information, and you don't have that "arrogant real estate guru" cockiness. Refreshing.

[inzanemusic]

So how even on fane Mae owned reos where contract says "not assignable we would still be able to do this ? Also are you closing the B to C first in order to have the money to wire ?

[MichaelF98]

Great training!

[Tally81]

@cleverinvestor ~ Basically, you do what I've heard as a "Courtesy Closing" at your title company, in a round about way.

[lomaxproperties]

I was told that I "should have a POF letter" for my offer to be competetive and should send it in with the Offer...also the earnest money, are you sending that in with each offer or just with the accepted offers and what is typical for an REO...$1000?