Flipping REO's via Land Trust

[Anthony Clayton]

I just flipped 3 properties today to a all cash investor using a land trust. I had never done it before and I was skeptical but I closed all three deals same buyer within 3 hours.

Here are the steps if you want to use a Land Trust to flip:

1. Put in your offer as xyz title vesting tba in escrow.
2. Get offer accepted.
3. "Street Name" Land Trust Trustee xyz (whatever buyer that is in Step One)
4. Find a cash buyer
5. Sell your land trust to Cash investor ( Wholesale Fee)
6. Cash Investor is the 100% beneficary
7. He wires money to escrow.
8. Property sold
9. Beneficiary (Cash Investor) fires xyz as trustee and assigns his own trustee for property.

NO EXTRA COST FOR A DOUBLE CLOSE USING TWO ESCROWS

NO EXTRA COST FOR TRANSACTIONAL FUNDING

NO COMPLICATIONS WITH ESCROW AND TITLE

[Jeff Tumbarello]

There are a few ways to do that. In an LLC you just fund the LLC. Or show personal funds with a letter stating that you will fund this purchase with personal funds. (not all banks will accept this, some want the buyer, escrow check and verfications of funds letter to have the same vesting)

When you show the personal funds as part of the POF landtrust. You lose the key ablility of the landtrust. The ablity to remane unkown and do business.

This thread is much like the whole REI industry. Hyped up simple information, sold to people with no working knowledge.

There are no secrets in real estate, there sure are no secrets for sale in real estate.

Those than can do. Those that cant GURU.

You have 4 things you need to succeed in this game.

time
money
knowledge
a good credit rating

without those you are pretty crippled in what you can do. The good news. Those fours things can be aquired with a little effort.