I'm sitting here at the Honda dealership waiting for the oil to get changed in my wife's minvan and I decided intead of reading the latest issue of USA today...I would do something that will help you make money....

I've only got about 45 minutes but here go's....These some of my most often used Wholesaling exit strategies.

Straight Assignment
This is the traditional method of doing wholesale deals. As a percentage, I use this method about 40% of the time and you too, can make a killing simply using this tactic exclusively, however why would you want to limit yourself?

Build Buyers list ==> Find homes ==> Put under contract (and/or assignees) ==> Assign Contract

Pocket LLC Method
This profit tactic is best used when dealing with non-assignable REO's....The reason this works so well is that instead of assigning a contract and getting paid as you normally wouldâ€"You're going to get your assignment fee when you sell your llc.

Since the bank won't know who owns the llc when you've put the home under contract, you can just sell the llc and they won't know that anything has occurred.

I would recommend setting up 3 or 4 llc's after you've done a couple deals. The reason I recommend doing this AFTER you've done a couple of deals is because many of the rookies that I've trained end up putting to many obstacles between getting started and their first deal. I call this “Getting ready to get ready†or “Preparing to prepareâ€

Build Buyers list ==> Find homes ==> Put under contract (Using Pocket llc) ==> Sell llc

Double Closing (Simultaneous Closing)
This profit tactic has received a ton of bad press but I still use it all the time. I like using this tactic when I have a greedy cash buyer on the other end of a sale. Greedy cash buyers will often have a meltdown if they think that you are making too much money. As you'll soon see, this profit tactic eliminates the chance of a greedy buyer knowing what you've paid for a property because they NEVER see the original contract.

Besides eliminating the headaches of working with greedy cash buyers, using a double closing also eliminates the headaches of working with sellers who might get upset if they see that you're making a profit being the middleman.

Warning: In either case sometimes you may feel like shaking the greedy party and saying “Listen your goal is to Sell your home (sellers) or Find a deal on the home (buyers), so what's the problem meat headâ€...I don't recommend doing this...It can cost you.

They can find out what you paid eventually by looking in the tax records but you will have closed the deal by then.

The main downfall in doing double closings is that you closing costs increase significantly because you'll end up paying buyers side title on the first transaction, sellers side title on the next (More expensive than buyer) . Plus, you'll also end up paying 2 closing fees....Unless, you do like I did and always try to close at the same company and negotiate yourself FREE CLOSINGS (That saves me up to $400 on double closings)

[b]Build buyers list==>Find homes==>Put under contract (your name or llc)==>Sign a completely new contract with your buyer==>Double Closing
[/b]

Double Closing Procedures
Closing #1-Close with the owner of the home (No money is exchanged)==>Closing #2-Close with your buyer (Give you money)==>Give the money from the closing with your buyer to the title office==>Leave closing with difference between closing #1 and closing #2.

Though I don't use the double closing quite as often as the other tactics, I do have to say it's my favorite as far as producing an AWESOME FEELING when you're leaving the closing table.

There is just something about walking into a closing penniless....Then leaving less than an hour later with a check for $10,000-$20,000.

HUD Assignment
This is a tactic you won't find many investors or “guru's†know a lot about, but it's a sweet little tactic.

As most of you know HUD Contracts are NOT ASSIGNABLE....Which is no big deal if you know how to use this “Little honeyâ€. This was a favorite tactic for one of my clients and he was using this almost on a weekly basis.

The reason I think this is such a killer strategy over many others is that HUD homes can be tied up for $500-$1000 deposit depending on purchase price....But the part that makes me smile, is that UNLIKE many other homes that you will be putting under contract....HUD is NOT IN A RUSH to have them closed....

Since HUD isn't in a rush to get them closed this gives you more of a chance to market for buyers which is especially important if you're one of those people who was foolish enough not to have your buyers list in place BEFORE you started trying to do deals....

On the HUD deals I've done here in Michigan, HUD doesn't require you to close until 60 Days AFTER they have signed the contract...In most cases that means around 70 days (That's a heck of a lot of time for marketing a home).

The other major benefit to doing HUD deals is that if you're a person who can't make it out to look at homes every day HUD homes UNLIKE most REO's are run in an auction style bidding format with bids due daily at midnite and weekend bids are do on Monday....Meaning you can have the entire weekend to go look at HUD homes, at your liesure.

HUD Assignment Procedures
Find your buyers ==> Put home under contract using your name or your llc's name ==> Use a “Add a buyer for financing†form and add your buyer onto the contract with you (Get you're assignment fee when you do this) ==> Have your buyer bring money to closing and both of you will sign paper work like in a traditional closng ==> Once the closing is finished and the hud agent is gone, simply deed yourself off the property...Leaving your buyer as the sole owner.

Looks like they called my name, I'll finish this up later on....With TON more killer tactics.

Eric Medemar