How to Wholesale REO’s - Real Estate Investing Training Video

by Dave on October 19, 2009

www.localmentor.com Colorado Real estate investment expert, Michael Jake, teaches zero down investing techniques. Learn Wholesaling houses, wholesaling REO’s, foreclosures, short sales, subject to, land contracts, owner financing and other creative real estate financing structures. Free Colorado Real Estate Investing Course teaches you how www.localmentor.com

Tagged as: Assigning Contracts, contract assignment, lease options, localmentor, Michael Jake, mike jake, no money down, real estate investing, reo wholesale, Subject To, wholesaling, wholesaling REO's

{ 13 comments… read them below or add one }

Anonymous 10.19.09 at 4:40 am: I tell them how much the whole things going to cost them. If my contract price is 95k and I’m selling my LLC for 5k, then I “offer” it to my buyers at 100k - when one says yes, then I show them they are paying 5k for the LLC and 95k for the house. The first time you do an LLC sale with a buyer takes a little more time to explain it, but after they do it once it’s easy on every one thereafter.
Anonymous 10.19.09 at 4:40 am: Im kind of confused. do I tell my buyer that this home is $100,000 even if the home is $95,000 to get my assingment fee? or do I tell them exactly how much my fee is before escrow?
Anonymous 10.19.09 at 4:40 am: they will want a proof of funds letter. Once you get the contract accepted they’ll want a deposit and they may check the funds letter, but probably not.
Anonymous 10.19.09 at 4:40 am: does the bank need to see my fund seasoned and and recieve a deposit from me as a wholesaler in order for me to get the contract?
Anonymous 10.19.09 at 4:40 am: I can’t give legal advice - talk to your attorney. The cheapest way to create one is likely on your secretary of state’s website. I can file one on mine, online and pay $50 (Colorado) on the website.
Anonymous 10.19.09 at 4:40 am: Can I make my own LLC for free? if not whats the quickest way to get it?
Anonymous 10.19.09 at 4:40 am: Must have missed this comment, appologies for a SLOW response. No I don’t have an attorney write up an operating agreement. just create the articles of organization on the sec. of state’s website
Anonymous 10.19.09 at 4:40 am: I often do now - double the earnest money required on the listing. I don’t assign when wholesaling REO’s - I sell an LLC for a fee - that fee is my profit and no I didn’t double it, I get what I can on each deal based on how well I tied it up and what someone else is willing to pay for it.
Anonymous 10.19.09 at 4:40 am: Did you double up on your earnest money which is 1000 to 2000 or doubled your assingnment fee from 5000 to 10000?
Anonymous 10.19.09 at 4:40 am: Did you double up on your earnest money which is 1000 to 2000 or doubled your assingnment fee from 5000 to 10000?
Anonymous 10.19.09 at 4:40 am: do i need an attorney to write me up an llc document to close the deal?
Anonymous 10.19.09 at 4:40 am: I really liked your video and your channel. If you need any help getting this video or channel exposed I use a site called tubeviews.(net) It has really helped like 20 of my main videos get to the top in position. Its nice.

Yes! Yes! Yes! I love it!
Anonymous 10.19.09 at 4:40 am: Great video, If you need any help getting your videos or channel exposed, i came across a service at thetubeviews . net it has helped 5 of my videos get ranked on the first page

This rox… Thank you very much.

How to Wholesale REO’s - Real Estate Investing Training Video

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