I'm a newbie also, although I've been in the site numerous times, I've only recently joined.

Per numerous other threads, expenses run 50% of rents.

ever purchase sight unseen for this price and the following information:1- $15K is negotiable2- 2 bed / 1 bath3- needs about $6K work to use as rental4- area not a war zone, maybe just an area above5- lots of new construction in area6- can be rented for $500 per month7- not sure about taxes8- near hospital and a college9- realtor adv comp about $45 - 50KWould this be a good wholesale or hold for rental income?

Now as far as contracting a deal it can mean a numerous amount of things as far as: doing home loans, selling houses, doind commercial loans, selling buildings, selling abusiness, and putting deals together!

If you bank has filed a "notice of default", or whatever its called in your area, you've probably had numerous phone calls, letters, or people knocking on your door already.If you do try a sale leaseback like you describe, I'd recommend you do it with someone you don't care to stay friends with.

A theory or a system of moral values: "An ethic of service is at war with a craving for gain" Gregg Easterbrook. 2. ethics (used with a sing. verb) The study of the general nature of morals and of the specific moral choices to be made by a person; moral philosophy. 3. ethics (used with a sing. or pl. verb) The rules or standards governing the conduct of a person or the members of a profession: medical ethics. le•gal (l g l) adj. 1.

Look forward to your war stories.Jon

He's gotten fines for numerous offenses, and still does little or nothing.

This is also a good way for a newbee to learn a territory and make some money to fund their startup.Also, learning the values of the properties in your territory and leaning how to value a property are all valueable to a new investor.Too bad Orange County, California is mostly taken (except for three war zones).

You just need to be sure this doesn't need a bunch of repairs; that it's not in a war zone; that all your tenants weren't put there last month to make the property more attractive; that all the tenants aren't family members with a 100 year lease at below market rents; that the only employer in town isn't shutting down; etc, etc, etc...Good Luck,Mike