Wholesale Foreclosure properties

[Randall E Collins]

I'm kind of new to wholesaling, just sold my first deal. I live in a rural area of Dallas Tx. Locating property that's distressed or FSBO in near to impossible. With the exception of run down mobile homes. So I've decided to focus my attention on REO or HUD property. My question would be, is it possible to wholesale these types of properties? What type of contract would be needed, the same as any other or what?

[Joe Splitrock]

Originally posted by @Randall E Collins:

I'm kind of new to wholesaling, just sold my first deal. I live in a rural area of Dallas Tx. Locating property that's distressed or FSBO in near to impossible. With the exception of run down mobile homes. So I've decided to focus my attention on REO or HUD property. My question would be, is it possible to wholesale these types of properties? What type of contract would be needed, the same as any other or what?

 You can't assign contracts on bank owned properties. You could do a double closing, but that requires you to have ability/funds to perform at closing.