Mike so with the …
Mike so with the LLC as the buyer, the Seller (Bank) wont require to see your proof of funds? How is that done

I have an …
I have an assignment clause built into my contract so by them signing the agreement, they are agreeing that it can be assigned. I use the same clause whether I keep it, or assign it.

I live in Texas and …
I live in Texas and I want to try this. I understand you can file for the LLC online but how much time will it take for me to actually go out and start making offers, like once you file with the SOS online its an official LLC so I can go out right then and there and start making offers with the LLC? And would I include a sell provision in the operating agreement so I can sell the LLC to the other buyer? And would he have to dissolve the LLC after the he were to buy the actual house on contract?

the only exit you …
the only exit you need is an inspection contingency that’s built into every state contract I’ve seen. If you can’t get a buyer within that time frame – at least get feedback from the buyers that have seen it and counter offer on your inspection to lower the price to where your buyers will take it (and you get a spread).

LLC=$50, …
LLC=$50, Transactional funding=2pts or typically 1k-2k or more in expenses. You do the math.
Many guru’s would have you use transactional funding because they refer you to the transactional funding source and make a profit on all the transactions you do there.

it’s a personal …
it’s a personal property transaction, the title co.has nothing to do with it, so you can use any title co. – usually with REO’s you can’t pick the title co anyway.

so what your saying …
so what your saying is create an llc and put the llc in the contract…but not the assigment of cantract with it right ….then sell the llc sepeate to the buyer then he takes over the contract

so you put the REO …
so you put the REO property under an assignment contract 1st and then go and put it under LLC? couldn’t you put it under LLC at the court house?

it might work or it …
it might work or it might cost you the deal. I DEFINITELY See lenders having a problem with that. Just do it the right way. You need a business process that works EVERY time. What you might save in time/$ on one deal is going to COST you thousands in deals you WON’T do because the lenders will kill the deal.

typically you’re …
typically you’re going to make more double closing a short sale to an end-user who’ll get a mortgage – that is getting harder and harder to do with seasoning requirements. not as likely to short sale one and assign to an investor as you can get them cheap, but often not cheap enough for a rehabber.

yes. keep in mind …
yes. keep in mind though, some agents will not “get” it. I even had a former student of mine who’s an agent tell another current student of mine “you can’t do that” – right up to the point where my student made 6,000 and the agent made 1800 commission.

Do you tell your …
Do you tell your realtor up front that you plan to assign the contract he/she helps you get on a bank owned home? Any suggestions?

Does the bank want …
Does the bank want you to show that you have the funds BEFORE they will accept your offer? If so, that is a problem.