Crap!

Total crap. 

The OOS strategy does not mean you have to buy turnkey or buy in crap neighborhoods. 

Real estate license standard and laws are put in place to protect the public from unscrupulous operators like wholesalers and some states are starting to crack down on them - and I hope they do more.You'll no doubt see lots of responses slinging a load of bull crap about how they're altruistically "helping the seller" to solve a problem - but we can all see the bull crap for what it is. 

Let us take a look:$100k to $149k (13.6%) – not enough for a crap shack$150k to $199k (5.9%) – enough for a crap shack$200k or more (6.6%) – does this crowd want to live in a piece of junk home?

Further, if you lease a car for the above mentioned 'ebay flipping' business and you use it to drive to craigslist ads to get the crap you're trying to sell on ebay you can write off your lease payments.

If you have 500,000 and want to take 1% on a crap shoot that is one thing for a trashy area.  

Banks aren't touching any of this now or in the next few years.More distressed residential and commercial is hitting the market.As a couple of VP's of local and regional banks have told me.Bring in a request for a unsecured line or construction loan to the committee for a vote is the fastest way to get you CANNED.They have too much of this crap defaulted on their books.They want NO RISK lending to offset book losses in the future so that the FDIC doesn't shut them down for not having enough capital and loss reserves.Private money is the way to go.If the project and numbers make sense they will do it.

They were not expensive, but they were ticky-tack little crap that wouldn't even have shown up on the radar of an inspector doing a standard home inspection for a conventional mortgage.I'd only accept it as a backup offer.

Yes, my personal favorite is regarding the tenants crap left behind after an eviction.