Frustrated by those snooty bankers turning up there noses at your assignable offers?
Sick and tired of getting the run around when it comes to wholesaling bank owned homes? If the answers yes, then this article will bring an immediate end to your suffering.
After spending the better part of the last decade wholesaling houses, if there’s one thing that frustrated me most, it was dealing with bank owned foreclosures. The problem is that no two banks share the same policies when it comes to assigning contracts.
Right now, both my students and myself have been experiencing almost flawless success using what I call a Pocket LLC’s. An LLC is a limited liability company and the reason LLC’s work so effectively is because they allow you to assign contracts right under your bankers nose and he’ll never know the difference.
Here’s how we use them. Basically, prior actively looking for homes you’ll need to get an LLC set up. Once you’ve got your LLC set up then it’s time to start looking at some foreclosures. Now under normal circumstance most banks won’t allow you to assign their contracts, but using this amazing method you can do just that.
Here’s where the rubber meets the road. Rather than filling in the signature box with the typically “Your name and/or assignees”, you’ll simply add the name of your LLC. Then instead of assigning the contract, you’ll just need to sell your LLC. In either case you’re selling your position in the contract, but in latter you’re selling your LLC along with your position.
And, that’s the run down on how were “Beating the system” and earning record breaking wholesaling profits.
If you like high profit ideas like this one… then you’ll really enjoy the 22 hours of investing know-how I’ve packed into my Do This Get Money system… if it’s still available that is.
