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Real Estate Wholesaling

How to Close REO Wholesale Deals (Part 5 of 5): Using a Land Trust

by Stephani Davis | October 8, 2009

Today I am bringing you the final post in my five part series where I have explained the various methods available to wholesale REO deals and get around the “No Assignment” clause that most banks include in their addenda.

So far, I’ve discussed simultaneous closings (my preferred method), double closings, using a quitclaim deed, and using an LLC.

Using a Land Trust to Wholesale

In this post I will be talking about using a Land Trust to get your REO wholesale deals to the closing table.  This strategy is similar to the LLC method that I discussed in last week’s post; in both instances, you will not be selling the actual property to your end buyer, but rather, the LLC or the Land Trust which owns the contract to purchase the property.

If you decide to wholesale your deals in this manner, you will be making your offer to the bank in the name of a Land Trust (which you will create once your offer has been accepted), and signing the offer as the Trustee of the Land Trust.

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Real Estate Investing

Three Easy Ways to Build a Wholesale Buyers List

by Stephani Davis | August 6, 2009

Real Estate Buyers List for WholesalersWholesaling houses is much easier when you have a list of active buyers lined up ready to purchase your deals. I personally spend just as much time looking for deals as I do looking for buyers. I am always on the hunt for new buyers, and as a result, I am usually able to unload my wholesale deals within hours of putting them under contract.

The following is a list of my three favorite methods for locating new buyers. If you implement one or more of these strategies and follow through on a consistent basis, you will have yourself a nice, healthy buyers list in no time.

Here we go…

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Real Estate

How to Save Hundreds of Hours of Your Time

by Jason Hanson | June 10, 2009

Image by ToniVC via Flickr

How would you like to save hundreds of hours of your time? How would you like to avoid spending hours in the car driving to meet with sellers who don’t end up selling you their house?
Well, the solution is in this awesome quote from Hedge fund guru Seth Klarman: “When people [...]

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Real Estate

How To Solve A Major Lease Option Problem

by Jason Hanson | April 15, 2009

Image via Wikipedia

If you’re an investor whose closing deals and making money now, you know that it’s a subject-to and lease option market. However, because of the crazy fall in home prices a “problem” has developed in selling houses on a rent-to-own basis (my favorite way to sell a house because the tenants take awesome [...]

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Real Estate

The 3 Types of Real Estate Sellers and How To Deal With Them

by Jason Hanson | April 9, 2009

Image via Wikipedia

Did you know that there are three types of sellers? Did you know that if you don’t learn how to recognize these three types of sellers that you can waste hours upon hours of your valuable time? Well, there is. And like most things about this business I learned the hard way, so [...]

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Real Estate

Which Property to Buy?

by Anwell Tsai | January 15, 2009

Let’s assume you’ve been presented with two outstanding investment properties to purchase.  Both can be purchased at a great discount and share similar risk profiles, though property A is significantly more expensive than property B.

You’ve spent hours analyzing this to no avail.
You have done extensive research in the market area.  You know what the contract [...]

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Flipping Houses

You Found A Great Rehab Deal. Now, How Do You Fund It?

by Richard Warren | March 10, 2008

You’ve been hunting for that perfect rehab deal like a Neanderthal stalking a mighty Mastodon. You’re sure you’ve found it. The after repair value and renovation costs will allow for a hefty profit. You should even be able to set a price that will result in a quick sale when the rehab is complete. There [...]

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Commentary

Information Is To Investors As Yin Is To Yang

by Mike Farmer | February 26, 2008

As promised, I’m going to circle back and cover a few pre-contract concerns that have to do with due diligence and determining value. I also want to address the importance of not falling into the trap of what I will Anti-Real Estate Agentism – AREA for short. Not only do first time investors [...]

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Commentary

How To Buy a Home With No Money Down

by Joshua Dorkin | December 6, 2007

I just came upon a bunch of videos that takes the serious things in life and breaks them down for all of us to understand – THIS IS FUNNY! The one I’m going to share with you today is a look at buying a home with no money down. I hope you all [...]

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Real Estate Resources

CashflowandEquity.com Simplifies Investing in Turn-Key Real Estate

by Joshua Dorkin | October 26, 2007

CashflowandEquity.com is the website of Cornerstone Investment Group, a company that has gained recognition for its specialty–offering turn-key properties to real estate investors. Simply put, this investment company promises to ease the “headaches of being a landlord.” No simple task, but the company says it can do this by providing properties that are “renovated,rented and [...]

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BiggerPockets News

Real Estate Dispatch – 12/1/06

by Joshua Dorkin | December 1, 2006

Sorry about the lack of posts lately. I’ve been extremely busy with some projects here and haven’t been able to focus on the blog. I’ll be sure to keep it up despite my busy life! Here’s today’s dispatch:

The 25 Best Affordable Suburbs in the U.S.

10 Questions to Ask the Condo Board

Distressed Real-Estate: [...]

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Real Estate Tips

Real Estate Vocabulary: Adverse Posession

by Joshua Dorkin | September 25, 2006

Adverse posession is a method of acquiring the title to someone else’s property by occupying the property against the rightful owner’s rights. NOTE: Adverse posession cannot occur on publicly owned (government) land.
According to Wikipedia, “Adverse possession requires the actual, visible, hostile, notorious, exclusive, and continuous possession of the property, and some jurisdictions further require the [...]

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Real Estate Resources

Zillow Takes Step Towards Democratizing Home Prices

by Joshua Dorkin | September 20, 2006

Starting today, Zillow is allowing its users to get their say in what homes are worth by allowing them to enter their own price estimates alongside the site’s proprietary Zestimates. Apparently the move was in response to feedback from the users of the site.

I’ve heard much debate about the accuracy of the Zestimates, both [...]

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Blogs

BiggerPockets Exclusive: Sneak Preview of Real Estate Website Realivent

by Joshua Dorkin | September 11, 2006

I’m not sure how I originally heard about the Realivent site, but there was something tempting about a site that “is looking for beta testers.” A few weeks ago I filled out their tester sign-up form, and on Saturday, was admitted into their Beta program. After filling out a simple registration form, I [...]

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Real Estate Deals

What Are Real Estate Deals and What Aren’t Deals

by Joshua Dorkin | August 23, 2006

With clear signs that the housing market is losing steam (e.g. sales of previously owned homes are at their lowest level in 2 1/2 years), smart investors are finding opportunities where there were few before. I just read a wonderful post in our real estate investing forums from our member Christy. I thought [...]

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