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My Broker and I are going to host a FREE in-person class for investors who want to learn about the REO process and how you can buy exclusive off market deals! Our firm has 30 years of experience in the REO sector.

If you are interested in this opportunity, comment below or connect directly with me through Bigger Pockets inbox.

Class location: Arnold, Maryland

Best,

Scott Matthews  

@David Dachtera Thank you, I will speek to my lawyer before I take this on.

Is wholesaling REOs in Maryland illegal? My agent who brings me REO listings just told me her lawyer said banks can sue me for fraud if I wholesale an REO through a landtrust. But said I can wholesale HUD homes through a land trust.

Is this true?

Thanks @Charles Biter

Thanks so much !

@Michael Williams

Hey everyone!

Is there anyone in Maryland wholesaling REOs?

Trying to learn the correct/legal way to go about this. I understand that it has to be put into a land trust but the details have me puzzled.  A ton of REOs are surfacing in Anne Arundel County, banks are unloading their inventory for some reason (which has be concerned). 

Anyway, hope someone is out there willing to help!

Thanks,

Scott 

Thank you so much for the advice! I am going to discuss it with the seller.

Hey everyone,

Today I made an offer to a seller in my area. He told me he owned the house out right, but he didnt live in it and it just wasn't getting a ton of use anymore. He wants to unload it but he didn't like my offer. The ARV is $420,000 and the seller wants $400,000. It doesn't need a ton of work but it needs some cosmetics and windows. After I told him my offer he said, "well I don't want to go below 400,000 so thanks anyway, I think I am going to rent it out instead, so I am not losing my 1,000 dolllars a year with taxes." I told him sounds good and hung up. The reason for this post is, is there a way I can bring the idea of a lease option to him, take care of finding a tenant, possibly getting his asking price in a few years and still getpaid? I don't entirely understand all the details with the lease options yet, but is this even a situation to use one?

Hope that made sense. Thanks in advance for the responses!

@Trent Kruessel 

Perfect! Going to do that.

Hey everyone,

I have been doing a lot of driving for dollars lately and my list is beginning to grow. I have been using myfirstAm.com to look up the property addresses to get the owners name and mailing address (if needed). My problem is, myfirstAm only lets me see details on the owner 100 times per month. SO, I can no longer check to see if the owner is absentee until next month. I am inputting way more than 100 properties a month and my question for you is... 

What is everyone else doing with their driving for dollars lists? Does anyone else have the same problem and how did they solve it? The only thing I can think of now is to call these property owners directly, ask if they have received my letters and obviously if they want to sell their house. \

Thank you,

Scott