BiggerPockets

Hi I am interested in finding out all I can about REO's. I live in Maryland and I know rules differ from state to state. I want to know if there is a way to put in a contract with the bank and then flip to end buyer with out having to do a simultaneous closing or a double closing.
I was told that you can set up and LLC and they I guess I would be selling my contract to the end buyer, but how do you go about that. HELP PLEASE.

Or is there another way that I can do it without all the stress of double or simultaneous closing. Thanks in advance for any help you may be able to offer.

OK thanks a lot Steph I appreciate it. But do you know how to sell the rights or someone I could talk to about doing with the LLC....and is double closing against the law in some states.

I know there are many title companies who will not do a simultaneous closing because their underwriters will not insure the transaction. People say they are "illegal" but I have never had anyone back those claims up.

Add me as a contact and send me a private msg, and I will put you in touch with someone who can explain the LLC method to you.

Steph

Drenda,

Click Stephani's name and you'll access her profile. Look for the "colleague request" thingamajiggy on the left side of the interface.

Hope that helps.

Anthony

Drenda,

Since you are new to investing the best way for you to gain experience is to actually buy property for yourself. Going through that process will give you the experience you need so you will know what to do when you sell to you clients.

Investors will be more likely to want to buy from you b/c you have actually owned investment property.

Good luck!!

You can also use a land trust in some states to transfer ownership with out having to double close.

They are highly effective on other transactions though.

you can find Bulk REO deals here:

http://foreclosurelistingsshop.com/