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buying REOs to Assign

Posted on: Tue, 04/19/2011 - 04:09
buying REOs to Assign

I am brand new to this but I have two real estate agents that are good friends of mine and I can get a list of all the foreclosures in the dallas area, however I have no money and my credit is terrible. How do I get these properties under contract to assign them to investors with money to buy them? Someone Please Help????!!!???

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Posted on: Tue, 04/19/2011 - 05:50 #1
Assigning a REO

You will not be able to assign an REO, banks will not let you assign them. You will need to do a back to back close, using transactional funding. Check out these sites that will provide transactional funding for deals. They will also provide proof of funds letters as well.

http://insiderscash.com/
http://coastal-funding.com/

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Posted on: Tue, 04/19/2011 - 06:00 #2
eroberts

Thank you very very much. I have these two assets and I knew there had to be a way for me to use them I just didnt know how. So do I still use all the same contracts with the banks as I would with a FSBO and Cash buyer?