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I have a partner, we want to wholesale to investors in our area in No. California, I just started advertising to build my buyer's list. I have a funding company that will help me with negotiating deals for 20% of the profits after resale to investor. We will be focusing on pre-foreclosures and unoccupied homes. What would be the best tax strategy for us as a partnership, is there one type of partnership that is more advantageous than others regarding taxes, and how do I hire a lawyer without all the retaining fees up front? Thank you.....Tim.

I really didn't have a choice. I either do that or go under permanent and I just can't give up like that. I will contact the company you suggested also because it seems like a low cost resource I can take advantage of to prepare myself for when I am making more money. Thanks again all of you for the advice and I'll keep in touch! -Timo

You guyls are so helpful, thanks so much. I have started reading Ryan's links, on the third one now, already had several questions answered and it just gets better and better. Thanks again for all your replies and I'll let you know when I am ready to do my first deal! Ryan, watch out, I might be bugging you alot now.......Happy Holidays....Timo

Hi, Timo here, I'm new to this investing thing although I've been researching it buying everyone's "how to" courses the past 5 to 10 years. California is an intimidating market for newbies like myself, everyone you know in Real Estate buys into the urban legends of "you can't make money in this market" hype going around unless you have lot's of CASH or A-perfect CREDIT and sometimes, the testimonials you read about contribute as well because they are short on them from this State for some reason. I've been pleasantly surprised to find many who say you can invest anywhere if you have the determination and motivation and someone to teach you the ropes. I have no cash, lousy credit, a low paying JOB, filed BK last year and got evicted as a renter and sued so I'm still in financial hades but I know I can climb out of it with wholesaling and get ahead and hopefully further this coming year. I Joined a local REI club here in Modesto but I'm originally from the Bay Area and would like to get back when I can afford it. I'm hoping to wholesale my way into this and retire when I have the holdings to do so in a few years. I haven't found alot of info on wholesaling details, just the usual stories of how someone else did it, leaving out the juicy stuff a newbie needs to know. But, I'll keep reading here and at another forum I joined recently and learn what I can so thanks ahead of time to all you contributors, I've read alot of the starter articles now and am pumped to go further. I'm looking forward to a long, successful career in Real Estate and to learning form some of you who are doing it successfully! Thanks! :violin:

thanks for the reply, i'll research his materials. thanks!

...with some meat, not the usual pan over that I see everywhere with all these other courses reviewed here. You can spend $497 or $1497 and still get the same frustrations. I've seen plenty of suggestions on wholesaling, but no meat and potatoes on strategies to build a buyer's list, negotiating or how to find these 'great' deals everyone talks about. I need cash, not a rental property with tenant and cash flow problems right now. I know some basics from reading, but haven't seen much more in details here or in searches at my public library. Any suggestions on getting the details of this niche investing strategy would be much appreciated, especially if it is an affordable resource for a change. Thanks. :shock: