I am looking to expand the rehabbing side of my business and hope to make some connections with some local wholesalers because the MLS deals are drying up a bit in my neck of the woods.Looking forward to learning from everyone here on the forums as well as offering help to people as well.

If the $50-$150K marketplace is dried up, should a wholesaler still target those type of homes?

He spent probably in excess of $25,000 in legal fees to perfect Texas lease options, especially since Austin changed the rules on lease options.You see, the crooks in REI in TX were bad guys, selling crap houses to Hispanics, selling on terms like rent to own and CFDs, the crooks not recording ANYTHING, foreclosing and evicting like the old West, and in 2005 Austin let loose on the public "executory contract" TX laws.Bottom line, "scare the heck out of REIs selling houses on terms.

If the IRS at some point figures out some entity is generating taxable income, perhaps from the documents title companies have to file, and decides you should have been filing returns and paying taxes, then you will be subject to taxes and penalties.You are correct that "active" isn't 100% cut and dried.

A party of interest in the property that was sold at tax sale may assign his or her right to claim excess proceeds only be a dated, written instrument that explicitly states that the right to claim to claim excess proceeds is being assigned, and only after each party to the proposed assignment has disclosed to each other party all facts relating to the value of the right that is being assigned.

I think you've always got to keep SOME liquidity on hand, and the amount you should keep on hand is usually a factor of the age of the property, it's cash flow, and how expensive (or inexpensive) the thing is to own in the first place.When I start getting excess liquidity, that's usually my sign that it's time to take a chunk of that cash and put it into another income producing property.

I have been reading BP and getting great info but I wanted to know in a more expensive market like Vancouver and its tri cities if its possible to flip apartments/townhouses to start creating more capital and than move on to houses.my other thought was looking at towns that are about 30min to an hour away and the price of property there is usually half of what it is in Vancouver.I am a pretty hands on kinds of guy and have done a lot of the finishings(painting, trimming, fixtures) all the way to dry walling and basic plumping and electrical work.

Its dry at some points and then for some unknown reason everyone comes out of the woodwork looking.

Folks who were just assuming their pensions and social security would support them in a reasonable lifestyle may be in trouble with the funding for that pension dries up.

Actually, I think the rentals were probably bleeding me dry to.