As a broker, I "buy" a mortgage at a discount from a direct wholesale lender, then mark it up and "sell" it to my client to make a profit.

You’re paying too much for each 1/4 point discount.

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I invest almost exclusively internationally but I would generally never invest in long-term rentals, unless the rentability is very high, which it almost never is.6.

I do have a small shop with equipment that I use exclusively in fixing my rentals.   

Something many new investors don't think about is that property managers usually negotiate volume discounts for some of this stuff.

As loans are offered on preREO at a discount, a payoff or reinstatement would typically generate a good return for the preREO investor.

Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?

If you are not coming in cash and you plan to hold for five or more years, its the best time to pick up a property at a steep discount and make it work until the cycle turns again.  

Hence the lot on which the house resided was taxed at a 45% discount based on actual value, while the tennis lot was taxed at about 4 times what it should have been by value.