Wholesaling with a Trust

[Demetria Sanchez]

Hi everyone ,

So I was curious as to the correct steps one would take when wholesaling using a trust. Here is my understanding :

1. Establish a corporation

2. Establish a trust (this trust would be used to list my endbuyer as the trustee after I resign from my trust)

3. Once I find a deal, get it under contract using my trust.

4. Assign the contract to my endbuyer and collect my fee.

5. Sign the necessary docs needed to resign from my trust and list my endbuyer as the beneficiary to take ownership)

6.My endbuyer signs the closing docs with my seller on closing day. (From my understanding this is the point where my end buyer is now the owner of the trust).

Before anyone mentions it, I am working towards my first deal. Also, noticing how the real estate contracts are worded in certain states, it seems as if many states have a no assignment clause or I would have to get written consent from the seller prior to assigning the contract( at least when dealing with on market properties. )

Any advice would be greatly appreciated. Thank you.