Hey thanks for the info mike,one problem, its my wifes birthday and I don't think she would want me to take her out to the real estate meating!

As a new investor, I have no experience or knowledge of rehab costs, so it would be tough for me, at least initially, to just approximate.

I also have direct contact with a Builder in the same area that has vacant properties sitting at $3.6 Million up to $4 Million that he wants to sell me at $2.0 Million to $2.5 Million.

keith, i did what your talking about...i was able to buy 3 three family properties this year...it is working out because i bought for cash flow...my equity in my own home was not working for me at allbut it all depends on your risk tolerance...make sure your #'s work...for example my numbers: i make over $1500/month per property i bought this year...if i could buy more i would but right now ive used all my equity up to 75% on my primary home...landlording is not easy either, just get ready for the roaches, bedbugs, overflowing toilets, fights between tenants, trash, etc...even w/ all of that its still worth it imo...good luck....bg

This leaves me at the mercy of a bank's appraiser who is probably going to lowball the appraisal from what I've been seeing.

Downtown, Mid-Town, High Point Terrace, Cooper Young, Highland Heights, and other inner city areas enjoying above average appreciation7.)One of the lowest cost of living of all major cities (FORTUNE magazine)8.)Surrounding cities support continued manufacturing development with Memphis as the distribution hub9.)Recent Subprime crunch has resulted in a hungry Renter PoolAnd there are many, many more reason of why real estate investors should be investin in Memphis, TN If you would like to learn more please contact me at your leizure.

I think I know exactly what you're talking about though the name escapes me at the moment.

Ironically those are the only 2 leads I've gotten since my site went up 2 wks ago(gotta market) I figure 2 deals a month @ 5-10k per deal is good enough for me at the moment.

I need to raise some serious capital and have decided to go the route of using REIT - Real estate investment trust.I was considering using Delaware or Nevada, but someone mentioned to me at a real estate seminar, i should use the state where the properties would be located.I am intensively studying the legal requirements as per IRS code section 856.

While I've yet to find a wholesaler who can find a deal on the MLS that I haven't seen or be able to provide one to me at a price below what I could have purchased it for myself, if/when this does happen, I'm happy to pay the markup as long as it's a good deal.What I HATE is when wannabe wholesalers tell me about a deal on the MLS that they don't have under contract, and expect me to tell them what I'd pay for it and whether I'm interested -- they don't seem to understand that they add no value if they don't have the property under contract, as I'm almost always aware of it already.