OfflineI am just getting into wholesaling and was told by some to stay away from REO's because they will not let you assign contracts to your cash buyers. All that makes sense to me but then I also see that many wholesalers go after REO's using the 25:1 strategy and they just "double close" on it instead of just assigning it to their cash buyer. Does anyone have some good experience or insight on how easy this is? I just keep hearing so many horror stories about people trying to wholesale REO's with very little success and do not want to waste my time with them if that's the case.
Thanks!
Nick
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Could you please explain what that means?
yes you can do REO's. they might be a little more difficult but if you have everything lined up properly then it should be a smooth process.
Where most people that try it fail is not having the transactional funding in place and an end buyer in place.
When doing a double closing in order to even get transaction funding you have to have a buyer and you even have to be in contract with that buyer before they will even consider giving you money.
So if you do the correct steps it is possible.
http://www.deangraziosi.com/forum/32
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Mike
see links below
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools