My comment to them was, I use my money to make more money and don't buy things I don't need or can't resell for a profit.Don't get me wrong, I have fun and enjoy life, but I always try to find a way to have someone else pay for the things I want!

I would consider buying a few and reselling them until you build up enough cash to buy and how a rental.I hope this helps.

With one exception.........Unless you are buying the property so low that you can re-sell it at a profit with out lifting a hammer.

I have landed on real estate.After searching around and reading a bunch of stuff on real estate investments, I have determined that the best place for me to start would be by purchasing foreclosures and reselling them for a higher price.

If you have the funds available then it is pretty easy to just purchase the REO and then resell it to another buyer via a new HUD-1.

Realtors are considered "experts" and they shouldn't be trying to negotiate preforeclosures because that might end up with you in court.Actually, a Realtor can negotiate preforeclosures, however, they must be totally upfront with the owner, i.e. that you intend to make a profit by reselling the property, which, of course, should be in writing.

The problem with parks that have park owned units is you pay more for the property because of the income stream the park owned units produce.Pencil out what you would make should you sell the park owned coaches at say 10-12% interest figuring you will get some of them back and will be able to re-sell after repairs.

Who will finance basically a flip transaction:I have an investor who buys a property at a discount from a bank, and resells it to a buyer the same day he closes.

I understand the buy/rehab/resell plans and I understnd the short sale concepts and dont have any real idea about sub 2's.

What I want to know is what can go wrong legally where you can get screwed over by acquiring a home, fixing it up a bit and reselling it.