Why not wholesale it to a cash buyer.If condos are a good investment in your town, depending on the renovation cost you have an ok spread.Also they told you 70k and need to close fast.

Craftman style, decent neighborhood, needed significant work and great houses around it.Upon further inspection, it was partially worked on inside, some new sheetrock and paint, but it didnt look like anyone had been there in a bit.Knocked on the neighbor's door and after some chatting, got the owner's number.Long story short: meeting the owner this week for a formal tour, talk numbers, take my mentor and then maybe my first wholesale deal!

The best way around deed restrictions are:1. a fannie mae deed restriction has a TIME element and a PERCENTAGE element. 3 months and cant resell for 120% of the purchase price. 8 times out of 10 my wholesale fee isnt 20% of what I bought it for, so I can get around that by not being 120% of what I bought it for.2.

Here's my situation:I am attempting a wholesale deal from a highly motivated seller to a rehabber.

Also I understand insurance requirements and property taxes in Florida to be rough so definitely hold that 50% expense ratio if not a bit higher.If you're going to wholesale, you're essentially flipping without doing the rehab.

You might consider getting to know some wholesalers if you want to do flips.

I live in San Francisco and the closest auctions in my price range are roughly an hour away.Given my situation, would it be best for me to buy from a wholesaler?

I found a house on CL and contacted the seller, he's a lanlord/wholesaler.

In all my years living here i don't ever recall seeing bandit signs, flyers, business cards, listings in the personals or anything wholesale related.

I have done a couple of wholesale deals where I've signed the contract on my iPhone and they went to settlement with no problem.