Adam Hey Adam, In Wholesaling, you are acting as a principal (buyer) in the transaction so you would just need a regular purchase & sale agreement with "and/or assigns" language and a marketing clause for you to be able to promote the property while you are under contract.

Hi Sebastian, it may not be advisable to form your LLC in California if the principal place of business is not located within California. 

In wholesaling, you are acting as a principal (buyer), so you will need to sign a purchase and sale agreement with the seller.

You may be able to draw on some of the equity that you have built up, without having to sell the property or refinance and pay higher rate / more principal.

I would recommend you get a personal guarantee for the principal(s) of the LLC - that will be key in locking them into the loan.

The same way we attack any debt we don't want to anchor us anymore- by punching it in the face with large principal payments.We buckle down, make our own coffee, brown bag our lunch and eat/drink at home or bring a picnic to the park Dave Ramsey style.   

So me as a principal broker if commission is 100k I keep it all as it's my company minus business expenses of course.

Net Operating Income is simply your income left over after all business expenses, not including principal, interest, or any reserves (since those aren't expenses yet). 

Its funny how the same principals /adages for choosing real estate investment are the same for public markets, but applied nearly opposite...

RULE: "The seller must have owned the home and used it as their principal residence for two out of the last five years (up to the date of closing).