All Forum Posts by: Scott Hamilton

Pof is handled and its a real one from bank of boston through my fathers hedge.

The article wasnt an ad i was looking up something on reos and it popped up and it was wsj or reuters or orlando newspaper but it wasnt a guru thing.

I didnt ask for an opinion I asked if there was a workaround.

Even if someone asked, hey what are you trying to do? I would have explained. So just short of being told Im a bum and you cant do that, I sifted through and got my answer.

That didnt mean not give one, that didnt mean cheat in some way.

To go back to some of the above.

The articles focus was on people making huge profits on reos while never owning them and purely transactionaly profiting.

So if I am competing on a house and im offering zero inspection and 1k emd while joe smith does the same with 10k, I was curious to how you can milk the time before you have to send in the money.

Im not being facetious but i just read an article where some guys in Tampa have be flipping reos at a rate of about 400k per month. The whole point of the article was they didnt own the properties for much more than a day.

It can be done

TThank Jon. You dont change the contract youre adding a buyer. My father just did this with my uncle and he just qc at the end. Thats messy and there is neater ways of doing it.

In my case im working with some buyers who have given me a criteria and will buy pretty much whatever i bring in that way criteria. So i know who, what, and where the rest is merely connecting the dots.

I wanted to add (because someone mentioned it) that i am marketing from private sellers and marketing probates, and have several deals sold in the 3weeks that i have been here.

Just adding another tool to the toolbox.

So, out of the suggestions above we have, absolutely nothing applicable to the question. We did have some negativity, some ignorance, some conclusion jumping , and some snarkiness.

Ok lets start one at a time.
I left my job moved 1500 miles away getting started in a new city doing anything i can to keep cash and not spend any until i have more cushion.

You dont assign the contract you add a buyer on and either qc or you can creatively close.

Thanks for the input everyone

Wholesaling the reo not buying to hold it.

Im a full time investor and want to add in reos. What is an effective way to work around the emd? Right now i dont have the money to cover the emds so what can be done besides borrow it?