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Sounds genius to me, although I think I'd keep it to a small portion of the country, or you'd spend all of your time flying to see properties. Otherwise, genius!

I myself am a newbie - but having done alot of homework this summer, I have learned this. The only way to enable wholesale buying is to search out Motivated Sellers.
On your first inspection of a property, your most important task, beside inspection, is to determine how motivated the seller is, what he owes on the mortgage/liens, and what his equity is. This is the only way to be able to buy wholesale. It's not about the property, it's about the seller.
My two cents.

KleanCut, What NanCo means by a team is your real estate attorney, a real estate agent if possible (to help you find good deals and comparable properties to appraise yours against), your general contractor or sub contractors, and either private investors, hard money lenders, or banks/mortgage company. You don't need a "partner". Flipping real estate is very similar to flipping cars, just somewhat more involved and takes longer.
Many banks/mortgage companies won't lend on flip properties if they need too much work; you need hml or private investors to complete the rehab then refinance with the bank if your keeping it to rent.
MOST IMPORTANTLY, you should go into the archives of this forum to find the correct formula to help you calculate your profit on any given property - profits should already by known when you purchase.

My two cents.

Thanx GarGus - I found it.

Tyril,
You wrote about "johntreeds" website in one your posts. Can you supply the actual website address? I tried searching "johntreeds" and "john
treeds real estate" and couldn't find it. Thanx! Jean

Thanx for the reply Deborah,
Believe it or not, I have actually done exactly what you suggested with a
relative who may actually invest with me, and he is persnickety. But I did get some useful info out of him, so worth the time spent. I guess I'm on the right track.
Thanx again, Jean

Thank you both for your replies - this forum really rocks! I guess I just need to have answers to their questions - no scripting or sugarcoating. This seems too simple and easy - I only hope it is!
Thanx again, Jean

Hi everyone,
Are there any new/seasoned investors out there using private funding? I'm trying to figure out how to approach my potential investors - they are doctors. Can anyone suggest any "script" that was helpful, or is it just "how much is in it for me" to the investors? Any advice would be greatly appreciated.

Just remember, going out on a ranch is more expensive than going up with a second level; you must build a foundation to go out, but not up.

In response to your request for a business plan template - I just bought one for $39.00 from a website *****************.
I too am just starting out and decided I needed a concrete plan first. This was the best $39 i've ever spent. It helps put all your ducks in a row and know where you're going. It will also be extremely useful when I approach private investors - it will show them were I'm going! This was another reason I bought it. It lets you take it step by step and really clarify what you want to do personally. I had one printed and ready to present, but a close family member critiqued it for me; so i'm onto the second edition. Hope this helps. Good luck.