An option contract gives you the right to market the property for something higher than the strike price.For instance, you offer X and put it into the MLS at Y.

I mean, he glossed over the most important part which was getting your co-wholesaling agreement signed so that you dont get screwed out of your end of the deal....but otherwise, I watched all three parts and it doesn't seem like anything new or radical, he did give a "cowholesaling script" an "investor script" and some "magical software" that you can do a zip code search and it brings up other wholesalers in your area so that you get in contact with them and hopefully strike deals together.

You offer seller $50k, with the sweetener that you can close in 15 days, at which time he will receive either (i) funds from your lender or (ii) your cash, if the loan does not come through (your offer is accompanied by proof of funds, etc. so he knows you're for real) If your offer were subject to approval from a conventional lender, seller would insist on $60k list price, but given a fast and certain close, seller accepts your offer of $50k.b) You strike the following deal with lender: You (buyer) will post $50k cash collateral with lender.

I wasn't really trying to strike up a deal per se.

An equity note will lose the collateral and would have to sue for an unsecured judgment.What ever deal you strike in a short sale, a second note holder will likely have the same option to pay the amount and foreclose, most institutional lenders won't go there, as a senior lien holder can't put a second at a disadvantage to secure their collateral.I have heard of seconds being discounted deeply and some required the full payoff, even knowing it would go to foreclosure.

If (if) the product did deliver results, auto manufacturers would be striking deals left and right with the company.

I could buy it and strike a match to it just to feel warm and fuzzy.

It's really simple, you strike a price a seller will accept, get a contract and tell them you will get rid of the property to an end buyer.

Everyone seems to be looking for a way to make a fast buck and strike it rich instead of developing a long-term, sustainable plan.

Preemptive strike here, folks, since posts like this all to often turn into an advertising fest.