How to Wholesale REO's - Real Estate Investing Training Video

http://www.localmentor.com Colorado Real estate investment expert, Michael Jake, teaches zero down investing techniques. Learn Wholesaling houses, wholesaling REO's, foreclosures, short sales, subject to, land contracts, owner financing and other creative real estate financing structures. Free Colorado Real Estate Investing Course teaches you how: http://www.localmentor.com

Category:

Education

Tags:

• reo wholesale
• wholesaling REO's
• No Money Down
• Wholesaling
• Assigning Contracts
• contract assignment
• subject to
• lease options
• real estate investing
• Michael Jake
• Mike Jake
• localmentor

[Ednyce81]

is this only necessary for reo's, and why ?

[localmentor]

@Ednyce81 yes, I only use for REO's (I think some people are using this for short sales too) because often the lender addendum states one must have guaranteed funds to close the deal - meaning you can't use funds from a double close. That leaves you using transactional funding (1-2% of the price) or using this technique to avoid having to pay for the cost of transactional funding. You can also use a trust and sell the beneficial interest but trusts can be a red flag to lenders.

[wilber638]

Does this only work for Colorado properties....if I am in Maryland and I buy a Colorado LLC can I sale a property in MD with this LLC

[localmentor]

@wilber638 - yes, but you might want to create a MD LLC

[TheMotifES8]

Could you please tell me how I can get a copy of your attorney drafted contract ? Thanks!

[localmentor]

@TheMotifES8 you can get it with any of my courses at my michaeljake website

[Lounsbury6257]

Hey everyone I want to share a book that just came out about REO's is "REO BOOM" this book has over 400 pages on the entire REO process. Check it out and I hope you find it helpful like I did. 

[focus1880]

when selling a llc to an end buyer and the deposit money is in place if the end buyer does not want to pay full assingment fee until closing but does agree to double the deposit money does this have to be indicated in the contract and is this non-refuundable also the end buyer is totally responsable for all closing coast unless he/she can work something out with the bank or me thank-u-

[Ednyce81]

is this only necessary for reo's ?

[gnice25able]

do u know any good title compnies and attornies that works with real estate investors who wholesale propeties

[wilber638]

Yes, I have a MD LLC , so can my MD LLC buy a Colorado LLC to sell the property and make a profit???? Thanks