Hey BP,I'm encountering a lot of leads who have high equity in their homes but the current value is a lot lower than what they purchased it for, so they are reluctant to sell at a price that works for me (60-75% minus repairs of market value).My question is, is there a strategy out there to try to convert these leads to a deal or is this just the way of the land and a deal will come when proper motivation is present?

The remaining 500 came in the form of a real estate tax credit at closing.

And, if you take something out of service before its fully depreciated, you can take the remaining depreciation at that time (as I understand it, my CPA does all the gory details.)

Look to Detroit, certainly not a small town, but even there the population remaining is not sufficient to keep properties occupied and retain values.Land and improvements owned is a good hedge as rents or income produced does not hinge on meeting any liabilities, with the exception of taxes.

You can always offer sub2 terms if they want a higher price or aren't as motivated to move quickly/cash out.Also would you chose different filters from listsource.com if you were looking to find sub2 vs wholesaling?

In reality I'm learning that wholesaling is still a 'pay-to-play' game where you have to invest some money in marketing and a significant amount of time dealing with all the un-motivated sellers to find the few motivated ones.Looking back, what would you have done to accelerate your 7yr learning curve?

Get them early enough, motivated enough (property priced low enough) and comfortable enough to deal with you and you have successfully increased your value as a wholesaler who with serious buyers want to do business.

Since the new principal balance is lower than the remaining principal on the loan I should make sure that the new payment on the LC is higher that the old loan payment as well.

You can bring in an equity partner, sell, refi, or payoff the remaining balance when the note comes due.

It is just as crucial and may be more that a teacher is also a motivator.