Is it possible????
Greetings to all, if i wanted to do an short/sale through a bank with properties that are good deals, but don't have the funds to buy it myself, but have cash rehabbers that would want the properties, Is it possible to structure these kind of deals and make an nice profit? Can anyone give me some suggestions on this subject? The sellers lost their properties due to forclosure and now the bank want the properties off their hands. I'm not sure how to structure the deals through the bank, when i don't have the funds, but the rehabber does. Will the banks allow a third party to participate, or can i assign a deal? 
Quote:
On 2003-04-27 21:58, royal12 wrote:
Greetings to all, if i wanted to do an short/sale through a bank with properties that are good deals, but don't have the funds to buy it myself, but have cash rehabbers that would want the properties, Is it possible to structure these kind of deals and make an nice profit? Can anyone give me some suggestions on this subject? The sellers lost their properties due to forclosure and now the bank want the properties off their hands. I'm not sure how to structure the deals through the bank, when i don't have the funds, but the rehabber does. Will the banks allow a third party to participate, or can i assign a deal? <IMG SRC="images/forum/smilies/icon_confused.gif">
The most flexibility is BEFORE the bank owns it. They ususally don't take assignments. Your best bet may be to act as a "bird dog" and get a fee for bringing these properties to the investors attention.
P.S. I noticed your post is from a while back. There are several sections fo the forum. I think you chose to post in a section that does not get a lot of activity.