Is it still possible to wholesale bank Repo's

6 Replies

I was recently talking to a realtor/investor who says that wholesaling bank Reo's  is dead is that true? 

Not at all. It's alive and well, if you know how to do it. We do it all the time. You just need to make the offers in the name of LLC's, then sell the LLC before closing. The new owner of the LLC closes in the name of the LLC. The agreement was between the LLC and the Bank. Nothing changed...except we are now dealing with a dozen eggs instead of just12.

he also said it was hard because they are listed

Originally posted by @Rod Coleman :

he also said it was hard because they are listed

 Listed, un listed...doesn't matter.

what happens if you cant get the deal sold, you lose your deposit right?

Originally posted by @Rod Coleman :

what happens if you cant get the deal sold, you lose your deposit right?

 No.  If you make the deal using financing, then if the deal is neversold,you can backout because you couldn'tget it financed.  However, if you're doing it right, you should have it sold before you make the offer by having your offers based on what your already built buyers list tells you they are looking for.

nice...

Well next question is how to you build a nice buyers list, and in your mind how would the process go. or i should say should go.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here