Help I want to get started in REO's

[Drenda Holmes]

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.

[Stephani Davis]

I've never done it using an LLC, but know a few people who do.

You would be making the offer in the name of the LLC, (example, 123 Main St, LLC), and then selling the rights to the LLC to your end buyer.

Like I said, I have never done it this way (I do a simultaneous close instead), but know a few people who are currently using the LLC strategy, and it works fine for them.

Steph

P.S.
Selling via double or simultaneous close is really not that stressful if you have a good title company on your side.