I am up to my eyeballs in debt so I don't have any capitol to start, and I want to learn to wholsale so I can pay down a bit of my debt, and get a little extra to start rehabing my own properties.

There are even debt relief programs(falsely named) that will give a second mortgage up to 125% of the appraised value.

forget the word "can't" - eliminate it from your repetoire of words.figure it out.do not make excuses for not doing something - make an effort.this is important.i understand your challenge with being apart of the family business.

Bring down some of my debt load.

And the building will cash flow after all expenses and debt servicing at around $5000 per month, plus about 4k per month in appreciation.

:clap: The main strategy will be credit card debt restructuring, and a portion of the fund will be given to me to trade for them.

I'm not sure why you want to keep purchasing with DEBT.

The pod cast suggested writing to several people becasue not all of them will want to sell, but chances are that someone out there would rather have the money now than waiti to collect it over the next 5 or more years.Once they agree to sell, the lawyers get involved and then you own that mortgage and the debt is now paid to you with interest.I am sure that there is a way to purcahse the loans from banks also, but I am not sure how unless you just call them up and ask.

lot going on in this post.first, no way will you get a 5.5% on a non occupied investment property.(2) you *may* end up with positive net income on the property without having the mortgage writeoff - this means a visit from the tax man. as an investor, the "write offs" or tax deductions you will receive, if your business entity is structured correctly and your CPA knows what he/she is doing and you keep tabs on it, will far exceed any write offs you will earn anywhere else...look at it this way...IF...you HELOC...taking 100k out of your property...now you've got 100k to invest in an reo or other distressed property - CASH...real estate is about leverage...but with the CASH purchase, it frees you up to do many different things down the road...IF...you "buy right" (below market value > 30%) - combined with the CASH purchase, you'll create a return on your investment that is EXCELLENT.if you took an arbitrary 100k (from anywhere, say it grew on a tree) and you stuck it in a savings account earning 5% (which is a lot for a savings account)...compare that to the 20% return you'll get off the monthly cash flow from a good rental...not to mention depreciation..and future leverage options available to you through this investment...the returns just compound.now this all deserves a qualifier...we don't know the specifics of your current home, your finances, what you owe on it currently, other debts etc.all that must be taken into account.

There are land lot loans (for residential lots) that allow for up to 90% financing (90 LTV); general guidelines are:- mid FICO of 660- willingness to go FULL DOC- A debt to income not to exceed 45- A max. loan size of 400K- 6 mohths of reserves required- Up to 10 acres allowedb.