All Forum Posts by: Jeffery Bigsby

Thanks J. I guess the next question would be trying to wholesale REO's? Is it really possible? I hear all the time from people that it is but these are the same people who are trying to sell you a product. Do you have any type of knowledge on this process or should I work with a private money lender to go ahead and close on the property and resell it afterwards?

As a wholesaler I'm trying to create more value for my business and making the process of purchasing a home from me as easy as possible, I'm thinking about paying for an inspection(my best friends dad has a certified inspection company and he will charge me $125 on homes less that 2,000 sqft)so the buyer will know exactly what's wrong with the property. As a cash buyer would this be helpful for you? Why or why not?

@J Scott if you purchase a home through an LLC are the rules still the same? Could I sell the LLC before the grace period is over or will the banks have a problem with that too?

If this is possible, how does this process typically work?

I watch these shows on the regular(Flipping Vegas is my favorite). I've never done a rehab but doing 15 at the same time does seem a bit much as Curt stated. However I've taken a TON of notes on all of these shows and soon will be ready to do my first rehab because of shows like this.

WOW!! 4 grand for EMD!!! Can you give me the numbers on that deal? Putting 4 grand down for a property must have meant you were going to make a killing on the back end.

I will be dealing with all cash buyers in this process. I'm planning to wholesale them.

Tim, are you referring to purchasing it as a LLC and then selling the LLC to an end buyer? If so can you briefly walk me through how that transaction would work, or anyone that has done this before. Thanks everyone for all of your help.

Thanks Andy. In your experience, is it easier to flip REO's via assignment or double close? Do the banks allow this type of transactions?

Thanks everyone for your replies and comments. Another question I have is about the process. I hear you have to put down $1,000 EMD or even up to as much as $1,500, is this true? Also I've heard that the bank makes you hold on to the property for a certain period before it can be sold, i.e 30 to 120 days, is this true as well? Thanks again for your input, it is greatly appreciated.

I've gotten to a position in my business where I would like to expand into different niches. For the experienced investors, which would you prefer and why would you choose one over the other if not both.