wholesaling

[Solomon F.]

I found a couple of deals that look pretty good to me but they are bank owned and will only take cash offers. To do so i would need to show proof of funds. I want to "wholesale" or refer these deals to cash buyers since I don't have the funds now. How can I present the deal to a cash buyer if I don't have it under contract and still guarantee my getting a cut?

[Brent Coombs]

@Solomon F., here is just one of hundreds of previous threads about wholesaling REO's:- https://www.biggerpockets.com/forums/93/topics/150...

Basically, you will need to jump through lots of extra hoops if you want to go the "Land Trust" or "LLC transfer" route. Banks usually have prohibitive addenda!

I am among those who recommend: start by finding an easier strategy than trying to wholesale REO's! (But, check some of those threads). All the best...