July 17, 2008Welcome to the BP forums.Education is key and knowledge is power so it is good to read everything you can.There are several avenues of real estate investing... residential, commercial, reo (bank owned), auctions, pre-foreclosures, foreclosures, short sales and so on.Each is unique in its own way and every deal varies.

Second and most importantly, you are losing the power of leverage.

Then, FM/FM decided they needed to leverage their position of power to get in on the same gravy train, and now the whole thing has collapsed.

The option is also powerful in that you can just make it a condition of the wholesale that the seller sells to the end buyer and you get paid on the HUD as a satisfaction of your lien instrument.

Its not like its some government organization with any real power.

Wendy Patton has a book on doing subject to deals: "Investing in Real Estate With Lease Options and "Subject-To" Deals: Powerful Strategies for Getting More When You Sell, and Paying Less When You Buy".

If you have the resources to jump into wholesaling and can make it work, more power to you. but, a college experience is valuable too, both for your emotional growth and for a degree to fall back on.

If you have it, use it, and dont go into debt.However I do see the power of OPM (other people's money" too.Unlike most other investors though, my ultimate goal is to buy all of my rehabs and rentals with cash, and stop using OPM.

Quite honestly I have no idea how they got it except that when I called to turn off the power they must have gotten off caller-id.

A power buffer will bring it back to new after your worst tenants.