wholesaling REOs

[Jeff Green]

Anyone around Conroe, Willis, Huntsville know if wholesaling REOs is allowed and if so can we do a double closing using the end buyers funds? Does it depend on which title company you use or is it Texas law? If transactional funding has to be used for the A-B, do the banks even care if I'm wholesaling to an end buyer soon afterwards or will they balk on that if they find out I am wholesaling before the deal goes through? Wholesaling in my area is going to be very difficult because of the less populated areas so I'm thinking I need to educate myself on dealing with banks and foreclosure/REOs. Reason I'm asking is I was watching a you tube video from a wholesaler in FL and there are title companies there that allow the end buyers funds to cover both transactions. Some people have all the luck! I was about ready to order one of their $47 dollar ecourses on wholesaling REOs then I remembered seeing a post a while back that TX may not allow that or it just depends on the title company. Any comments much appreciated as always.

[Account Closed]

Most title companies in Texas will not let you used an end buyer's funds to close A & B transaction. It is best to pay a fee and get transactional funding to close the A & B transaction. And once the transactional funding takes place you then can wholesale.

Joe Gore