I was reading the comments that followed (always more interesting than the article itself) and I can't believe how many people still don't understand our monetary system.

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And the cure is almost as bad as the disease, since the only reason that gap has been closing is because of the weak dollar, which combined with the Fed's monetary policy is making everything more expensive for consumers here in the U.S.

Most folks have non monetary reasons for selling, and the more you know about it, the better position you will be in.That said, there are times I can't get to the phone, and I find that my Google voice works just fine.

Consideration is part of commom law and when this consideration is not monetary you could leave yourself in a position where the court may decide if the consideration was adequate.An attorney you consult should inform you that not having enough consideration to cover the other party's losses may put you at risk.

It seems like a great way to make the 2% rule in the DFW area, but are the non monetary risks worth it?

hi takeshia from " elvis country"....lol. wholesaling is a good part of the flipping houses and RE world. however, each state has its laws regarding wholesaling. i would tend to believe a real estate attorney from the area on his or her opinion. i wouldn't say something is illegal if you can get a license to do it, its just illegal to not have the license. then we get into the gray area of exactly what wholesaling is. if you find a seller, and put them in touch with a buyer for their house, you are acting as an agent. without a license, that is illegal. but, if you find a seller, YOU get the house under contract to buy, and put in the contract your right to reassign the contract, that is wholesaling and might NOT be illegal. in that case, you are not acting as an agent because you are not bringing two parties together. you are actually contracting to buy an item, but then exercising your right to sell that contract which does have monetary value. just like a corporation creates a stock certificate and sells it on the stock market, it is just a piece of paper with monetary value that you are selling. please check with at least one other real estate lawyer and explain the process completely. show them how you would not be acting as an agent between buyer and seller but as an actual purchaser looking to sell the asset you have created. that may make the difference. 

So too did a recent working paper by the International Monetary Fund and the Mirrlees Review of British taxation by the Institute of Fiscal Studies.

Eric I was only referring to providing extra monetary incentive for your agent to reasonably negotiate, I cant speak to making offers at 50% of list, most agents rightfully find that a waste of their time and their reputations. 

I plan to start with wholesaling to help get a monetary base, then move up to flipping.