newbie to REO flips need advice

[Bernard B.]

Hey Guy's and Gal's I am new to this REO flip niche can anyone give me basic step by step advice on what to do from start to finish. I am looking for the easiest and simple method scince this will be my first REO flip then I will go on to more advanced ways without using outside money.

This is what I know so far....

1.Build a list of cash buying investors
2.Find a REO broker or agent and have them feed you porperties.
3.Once a good deal is found put the property under contract with a EMD of about $1K?

Here is the point where it gets fuzzy for me. Do I? How do I tie-up the property to keep the investor from going around me. End buyer aor NCND greement or....

A. use transitional funding for the A-B to secure the property (first closing purchased from the bank) then have the investor pay cash to the TF at the B-C closing for the price I have set, pay them back the principle plus points and get my check from the title company for the profit.

B. Use a hard money lender. (sounds like it would go down the same way but be more expensive)

C. Land trust: Sounds complicated but I wouldn't have to pay any TF or HM fee's

Help!

Whats the best way to do this step by step.
Please be specific.

Thanks for your help.

[Chris L.]

I want to know what value the OP is presenting by tying up an REO and then reselling it with a higher price without doing any work.
Flipping REO's is generally, buying them, rehabbing, and flipping to an end retail buyer.
Why would an investor cash buyer pay someone to negotiate an REO for them?
I think someone else said it best: That is the equivalent of buying a product at Wally world and then relisting the product at a higher price on EBAY.
I see no value added here.
Am I missing something?