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I hear where you're coming from MarkY, but biggerpockets.com has been the only place I can come to with general questions as well as specific questions and get an answer within the hour from someone knowledgeable. Most of the time, I'm looking for general answers to general questions about the industry as a whole so that I can get over this learning curve. I use real life examples though to get as close to an accurate assessment from the gang as I can. My goal is to get as much preliminary knowledge as I can just to be confident enough to land that first deal on my own which is why I'm asking as many questions as I can think of right now because when an opportunity comes my way, you're right, I won't have time to run through biggerpockets, but I wouldn't have asked all the preliminary questions first to get me to the point where I need to be.

Honestly, from my perspective, this is the most informative site for real estate investing and I love it because its full of information and more important to me right now ... IT'S FREE!!!!! You can't beat a free education with a baseball bat. :D

Sounds good. Thanks. I'll check with my local government and find out what the provisions are around the bandit signs.

What's the deal with bandit signs? Does a person need some special permission to put these on the street corners? I've heard in passing conversations that bandit signs are either illegal or you need some type of license or something. Not clear on the bandit signs. What does anyone know about them? Also, does anyone know of a great place to get some printed?

-K thanks. It's little things like this that I don't know. I have ZERO experience in real estate. Which is why I run ALL my questions by biggerpockets members before I do anything. thanks again guys!! :D

Hey yall ... I have a question. I got an email from an investment company that has a property for sale. The property is a practically new build (2006). Its a 4/4.5/2 4310 sqft. The market value (per the investment company) is $385K. They're asking $349,900. I know this isn't 70% below market, but its a new house with no repairs.

My real question is why wouldn't the investment company sell this house on the retail market themselves as opposed to wholesaling it if its such a great deal? I'm suspicious of it because it is new and they're harping on how great of a house it is, but THEY'RE not selling it at retail. Why wouldn't they?

I called and left a message for them to call me back so that I may ask questions, but I haven't heard back yet. Just thought I'd put this on the table for discussion.

Thanks for any feedback. :cap:

Okay Jorge. Thanks for the insight. I'll probably look into this property then. It's in a really nice area and the numbers look decent. It's a 3/2/0, 2068 sq ft with a sunroom, tax rolls appraise it at $107,900 and the owner wants $68,000. She says it needs work, but they're miscellaneous cosmetic repairs like interior & exterior painting, carpet/vinyl replacement. Things like that. I'm scheduled to see the property this afternoon and I've got a realtor pulling comps for me now.

I just felt weired about it because the owner invested in the home, but has too much on her plate and wants to wholesale it to me, but I'm not in any position to rehab it, so I too was going to wholesale it to someone who has time and money for the rehab. Just didn't sound right when I was thinking about. Maybe that's my problem....I should stop thinking and (like Nike) Just Do It! :kewl:

If a property owner (whom is an investor) is wholesaling to me, can I turn around and wholsesale it to someone else or is that not good? It doesn't sound right to me.

-K ... thanks Rehab702.

Also ... I left out the retail value of the home. It's at $198K. I haven't seen the comps on similar houses yet. Just wanted everyone's initial response to the offer.

Okay ... input from some pro's please. What's a good offer on a fairly new home (built in 2000) with no repairs. The seller is asking $135K, 0 repairs needed, and there's about $63K in equity. The property description is 4/2/1.

I'm so used to looking at homes that actually NEED repairs. I'm not sure if $135K is a reasonable offer on this house. What's everyone else's thoughts? :wowie:

Thanks drweltman. I will be joining DFWREIN. I've already received my application packet and a list of meeting times. I intend to join next month and yes, based on conversations with the coordinators with the club, they've got a REALLY good organization that really fosters a learning environment and supports investors. I can't wait to join because I know that will be exactly what I need to really get my investment projects off the ground. They have a monthly event referred to as a "field trip" where they take members (especially new investors) out to actual rehab jobs and its a day long experience that investors are exposed to the step-by-step processes of rehabbing a property and also what happens during the contractual phase and closing issues. I'm excited about that because I've never heard of a group going to this length to educate newbies to be as successful as they can be in this business.

Keep in touch drweltman and if I come across ANY interesting deals around Dallas, I'll contact you and perhaps we can throw business to one another from time to time. I've added your username to my list of contacts!! :D (what's your investment niche, by the way?) Thanks for all your help and advice.