Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
11y
Not at all. It's alive and well, if you know how to do it. We do it all the time. You just need to make the offers in the name of LLC's, then sell the LLC before closing. The new owner of the LLC closes in the name of the LLC. The agreement was between the LLC and the Bank. Nothing changed...except we are now dealing with a dozen eggs instead of just12.
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
11y
Not at all. It's alive and well, if you know how to do it. We do it all the time. You just need to make the offers in the name of LLC's, then sell the LLC before closing. The new owner of the LLC closes in the name of the LLC. The agreement was between the LLC and the Bank. Nothing changed...except we are now dealing with a dozen eggs instead of just12.
what happens if you cant get the deal sold, you lose your deposit right?
No. If you make the deal using financing, then if the deal is neversold,you can backout because you couldn'tget it financed. However, if you're doing it right, you should have it sold before you make the offer by having your offers based on what your already built buyers list tells you they are looking for.