Should a trust be used in a wholesale transaction

[Sean Brennan]

So, Will Barnard suggests using a trust for wholesale transactions in the BP summit audio. He mentioned that he would be the trustee and the end buyer would be the beneficiary. This is the only place I have heard of this. Everywhere else I have read mentions using an LLC and assigning the contract or doing a double close.

What are the advantages and disadvantages of each?

[Will Barnard]

Many reasons.
1. No double closing costs (second escrow fees, title, etc)
2. No need for transactional funding.
3. No need for third party POF's, or third party deposit forms signed.
4. No additional transfer taxes incurred (in areas where this is applicable)
5. No need for additional grant deed transfers, quit claim transfers, etc.
6. Wholesale buyer can be comfortable and confident in the transaction as they are the buyer all along, no deed transfers, no entity transfers, no non refundable EMD needed.

A trustee needs to be a person.