Mark Gustafson Great post but how exactly would you get motivated seller leads and how would you get them to continue to come in constantly?

My .02$As a experienced wholesaler, Im not sure your concerns are necessary.To ThomasThere are other expenses like marketing,buying leads, my phone, paper, ink, internet service, etc. etc. but all these things are just tallied up as cost of doing business.I use the same formula as above but sometimes I use .65 depending on the motivation level of the seller.Taxes are pro rated at closing, I dont buy any insurance (why would you?)

My son is severely disabled and I need to be in a position to care for him, so I have high motivation.

See I was under the impression that my homeowners would cover the first $500k then my umbrella would kick in and cover the remaining balance up to $1 Million and then anything over $1 Million i would be out of pocket for.

They are quite compelling and motivating!

You don't need a "company" (LLC, etc) yet.What you need to get started is:1) A process2) A teamKnow exactly how your process will work:a) Meeting cash buyers & understanding their needsb) Finding motivated sellersc) Evaluating propertiesd) Calculating offerse) Testing the water with your buyer(s) if necessaryf) Negotiationg) Closing via a contract/agreementh) Assignment to a cash buyer via another contract/agreementi) Receiving payment at closingFor your team, you'll need to know:a) Cash buyers, of courseb) Real estate agent(s) or broker(s) - provide comps, MLS opportunities, etc.c) Title company (preferred to have one you use for your deals)d) Attorney (required in some states)Best of luck!"

I personally find these to be incredibly helpful from a learning perspective and tremendously motivating to get out there and make something happen.If this sounds interesting, leave some basic info below about your deal and I'll send you a PM to follow up.

I've seen a couple of cases where a big national came in, took down the remaining lots and built cheaper houses.

yes its spelled that way.)I hope the USA's economy and dollar remains strong, for my kids sake.Go All Blacks!

That;s assuing a 20% down-payment ($20k) plus some closing costs and a little reserve (the remaining $5k).If you're looking for something "larger" then I suggest saving up a little more.