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Updated about 6 years ago,
How to wholesale REO property
I have a house that I am looking at that the seller is asking 15k for. My REIPRO estimates that the ARV is 60k. After doing my calculations to include my 5,000 assignment fee and 20k in repairs I came up with an MOA of 17k. My question is how do I wholesale a property that is showing up in REIPRO as an REO property? Do I still use my purchase agreement and assignment contract but double close or do I need a special contract?