Assigning an REO with a land trust????

I haven't closed on an REO yet, but I put all my offers in as a trust, so if I want to and have the option, I have it available. There are 2 threads on here regarding using land trusts for REOs to get around assigning. Do a search at the top on 'land trusts' (one was started by kimmy J) .

I started one called 'Protect your ASSets', however, one of the participants in the discussion erased all her posts from dg.com, so there are some missing parts to it. But yes, it is possible to use a land trust. I have not had a bank not accept my offer yet (due to them wanting full market value for their homes here in Southern CA, but me offering as trustee of the Whatever Land Trust has never been an issue if I include a direction to the trustee. For the beneficiary entry on the 'direction to the land trust trustee', I use my company, and my husband signs. But, when I include it, I black marker out the beneficiary and just leave the signature visible. (This is because a land trust is a private document and entity, and the beneficiary is private information, not public. This is why it works. You can step down as a trustee and the beneficiary can assign him beneficial interest to someone else. (This is how I bought my first deal, but I just took the property subject to existing financing, and left my seller with a partial interest in the property so a due on sale can never happen, but that's another topic all together!)) Land trusts are pretty AMAZING!

so can you put a n Reo property under contract, without a proof of founds?

It does not matter if you buy it in an LLC, trust, Your grandmas estate, self directed IRA, you still must prove you can fund the deal. It does not matter whet entity you chose to purchase in you still must have the $$$ to do so and have proof of funds when you submit your offer. As far as I know that is how it is!
Proof of funds is no problem to get! Why let that stop you from making offers on REOs every day. I have made 16 new offers on REOs this month and have 3 under contract right now! Find out how, go to my website: http://www.mdtfcam.com

Michael Mangham
MD Home Acquisitions LLC

You had mentioned the trust and beneficary on a post I had out, and I asked how that is done, so just read your post and understand it better.
But when they say to sell properties under "different" LLCs am I understanding that you have more than one LLC. I can understand selling under the LLC, but how do you do several of those. I am learning about LLC vs Corp right now. And was told the LLC is better.
I am content just assigning right now, and when I get more seasoned at assignments, then I will learn more of these other options. But for now, I have to make money quick. However I am able to do rehabs because of my situation.
Sandi

Thanks for the website, would like to know more.
Sandi