That means an 800K purchase and a 200K rehab (1 million invested) can result in a 400K tax credit that results in 360K CASH back in the pocket of the investor.  

Hello Bigger Pockets!

Hi @Herb Mitchell Welcome to Bigger Pockets and best of luck to you! 

Obviously none of they knew of the fire or looked at the property in the last few days.At tax sale I have seen people have bought:US Army bombing rangeExpired lease on propertyhouse with 3 walls, 4th wall missingsliver of land 2 feet wide50 foot cliff, access by helicopter onlyland at bottom of man made lake (literally underwater property)wetlandsflood plainsunbuildable propertyfailed perk testhistoric dig site, can't disturbproperty with no road frontagecondemned propertyproperty already scheduled for demolition soonformer gas station with leaking gas and oil tanks undergrounddry cleaning plant with toxic wasteSuper fund sitechromium factory with tanks and barrels of an unknown liquiddistillery with full barrells (ATF and state government was very interested and wanted to seize and destroy those barrells)Bigger Pockets Podcast #82 

(used bigger pockets calc.) 

Seems like taking advantage of people to me, to line his pocket, but what do I know?  

I’m reminded of a buddy of mine who moved from Brooklyn to Scottsdale.. he initially thought the desert was just cacti and scorching heat, but soon realized there’s a thriving market here with pockets of real oportuntiy.Working with an investor who’s ready to spec build is a fantastic way to dive in.

Hi Yael, I am a featured agent from Bigger Pockets in the QC market and can assist with all of your questions.

This is a great way to build a cash buyer’s list quickly.REAL ESTATE FORUMSFind people on Bigger Pockets and Connected investors who are cash buyers in the area you are wholesaling in and connect with them.

Obviously the numbers need to make sense but I am all in favor of trying to purchase properties in more A class area with the loan since there will only be very few times you can buy multifamily in these neighborhoods with as little money out of pocket.