Hello BP,I was just informed my closing will be delayed because the previous owner has not paid taxes on the property for the past three years.

I suggested notes with established rehabbers as their main goal is to exit quickly so they need that note paid off to convey the title.

Hi Vanessa, yes I guess it must be part of the paid membership.

-Tenant paid rent late first month they have to pay.

@Dan Wynn,I also own four properties paid cash in Jacksonville through a Florida C-corp.

If, if, all 3 are rented I could have the house paid off in 4 years.

well you can thank the internet  sites like BP  late night television evangilist RE guru's webinars podcasts etc etc.. facebook.. linkdin  etc etc. and the burning desire from many to get rich as absolutely quick as possible and some irrational idea that real estate is the way.. take the bar to entry is non existent and you have a lot of beginners.the reason you have all this wholesaler activity is because the market has strengthened and they can't buy a home like they could pre 08 only way to jump in with no money is try to pimp deals.

Typical minimum is 1% rent to sales price so if you paid 163,000 you want to see 1,630 a month rent.

September 10th rolls around and its time to get PAID!!!

Lets do it together real quick:80K ARV20K Rehab50K PurchaseMoney borrowed=70K Time borrowed= 6 moHard money Costs=7K (10% of 70K: 2points on front 2 points on back, and 1% a month)Real Estate Commissions=8K (10% of 80K: 3% to listing agent, 3% to buyers agent, and 4% to title work, doc stamps etc)...so the flipper would take 6 months to lose 5K and you still havent gotten paid either...But wait, there's more: Upon further inspection the wholesaler's numbers were wrong anyway, the flip is going to take 32K and the ARV is really only 64K and I can only buy it for 12K (lets say 9K to the seller and 3K to you)12K + 32K = 44K Hard money costs 4.4K and closing costs 2.5K, RE commission is 4KTotal costs = $54,900Sale Price = $64,000Total Net to flipper= $9,100 Joseph, I am not necessarily a mentor, yet. haha but I would be willing to answer any of your questions.