Newbi With A Few Questions
I’m about to make my first offer on a foreclosure and have a couple of questions. In what name do most investors make their offer? Do most use their personal name, corporate entity, or trust?
I’m trying to keep my exit open. Figure if I use a trust I can wholesale it prior to closing with no money out of pocket. Just reassign 50% ownership of the trust at or just before closing and let them close the deal. Let the wholesaler stroke the check at closing then buy my 50% out for the difference of the actually price and our agreed price. Worst case I close, wholesale it then or make the necessary repairs and retail it. Comments?
Second question is the status of the market. Yes, I’m sure everyone is tired of hearing / talking about the “bubble” but the Feds are about to raise interest yet again, oil has went through the roof and raw materials (construction) have gone vertical. In short, the economy isn’t keeping up with the two segments that have been in the driver’s seat (oil & housing). Its no secrete that Greenspan has been trying to break the back of the housing market for quite some time now. What’s everyone’s take; is the market finally slowing down? Let me qualify that a little more, the market in the SE, specifically Atlanta.
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