Either your contact misstated or you misunderstood.

Ok, every time I get a handle on things, I realise I have it all backwards or completely misunderstood something myself.

Former Justice Potter Stewart of the Supreme Court of the United States, in attempting to classify what material constituted exactly "what is obscene", famously wrote, "I shall not today attempt further to define the kinds of material I understand to be embraced . . .

Professor Whaley a famous law professor from Ohio State had a great pre-amble to one of his legal tomes.  

I guess I really misunderstood about wholesaling.

well first off let me clarify..my wholesaling is a myth" line was a bit tongue in cheek..Eric, you misunderstood me, what I meant was is that i know people who are wholesaling BUT it's maybe a deal here.. a deal there..which i wouldn't even mind..i also said of the wholesalers i know, 1 to my knowledge has done $15k,(at least that's what he told me) many of them aren't. i go to the REIA meetings and they have wholesalers practically begging for buyers and it's no go..and these deals aren't bad deals..they have equity and are at a reasonable purchase price..what many of you on this board don't understand is the way people are here..especially buyers..many are flaky, the few who aren't are too busy..i can read books on wholesaling all day but if the buyers aren't interested..forget it..plus from what i'm being told wholesaling is pretty much dead in the water w/ this market and yes i have access to the mls and realtor.com but a these props are agent owned and my buyers won't touch a Realtor owned property......try again fellas

Originally posted by @George Jan:@Will Barnard, @J ScottIt would be  possible that I misunderstood J, but he said "This 50% calculation doesn't include taxes, depreciation..." and depreciation is sort of an equivalent for capex. 

If not...then I might have misunderstood it.Thanks again Jaime!

I misunderstood.

Ray - We don't allow people to use their pic to advertise, don't allow religious or political statements, and don't allow images of famous people or copyright images.