ASSIGNING REOS

I learned a way around wholesaling REO's as the banks are not allowing these properties to be assigned... is by signing after your name trustee when making your offer. Only when your offer is accepted will you create a land contract. You must have a Buyer lined up to do this. Once the offer is accepted and you have created your land trust you will go to closing and sign all docs as trustee. The Buyer brings the money and you will make him the beneficiary of the land contract. Your profit is paid outside of closing as a fee to the trustee. Once everything is completed you can resign as the trustee and the Beneficiary can put in another person or entity as a trustee. It is a way to get the property under contract and still assign it without using any of your own money. Now have I done one yet NO but this is what I learned at a seminar this past weekend. I see in the forms and docs on this website there are land contracts. If anyone else out there knows if this is accurate or if I am missing anything please feel free to enlighten us....
Barbara
This is also a way around doing a double closing so I am told.