Originally posted by Drew Friestedt:We determine the retail value of an auction property that is flipped as-is with little to no renovation and divide the retail value by 1.5.

Jaime,My attorney drew up all my contracts and if you look at publications from the FBI (Mortgage Fraud Reports 2009 - latest) there are "NO CLEAR NUMBERS on short sale fraud"I think if you even look into convictions of short sale fraud you may find UNDER 5 cases of arrest and conviction, so it's not this WIDE SPREAD epidemic that people seem to think.While I appreciate you may be uneasy with it there is NO LAW that I'm aware of that states you cannot buy and resell the same property - even immediately.

Also, while on the subject of wholesaling, he drew me a "bullet proof" option contract specifically for wholsale deals.

Annette,I am a commercial principal broker.I don't think you should feel guilty.I would feel guilty if you were dishonest upfront and drew them in under false pretenses and expectations.150,000 is not that low of a price point.In Atlanta there are trash properties for 10,000 where the commission is 600 bucks to 1,000 and that's if you are the broker owner and do not have to pay franchise fees and broker splits.I only do commercial and do not waste my time with those low pay properties.So you are an investor.Did you and the agent talk about how you were going to finance these properties?

Trash laying every where and now that every thing was out of the house I could see that the kids drew all over the walls.

The resulting coverage not only sold their magazines it also drew people to this lush tropical paradise and made Puerto Vallarta grow into what it is today.Today Puerto Vallarta hosts an international airport that has easily doubled in size just in the last ten years.

Drew FabrikantCEO & Foundertrustscout.com

Drew

Drew

Seem like a good way to learn something of what a landlord sees.Collecting rent was a one time deal, but I helped with maintenance around the house and she went to college ( as an elderly woman) to study construction - she drew up plans that the city approved and I would help build or paint or anything else she needed - it was not something that happened full time or very often , but I jumped in when I could and usually remember back to something I learned from her whenever I'm working on properties.