Or when a deal gets convoluted with another party that's paying more than they agreed to sell it for.Good contracts help when something doesn't go right, or when the seller and buyer disagree, so they are a necessity.

As for value, I would put the value of the property as ARV minus permit + demo cost unless in a community like Palm Springs where a pool is almost considered a necessity.

Central air isn't a luxury in Texas, it's a necessity of life.

Even though as a wholesaler you still technically represent the seller and buyer, the contract assignment loophole seems to exempt you from the necessity of the license.I'm still learning myself but I hope this helps!

In other words, after I have paid for my necessities such as food, housing, transportation, entertainment, etc., I will take all of my savings and put it into real estate instead of into an IRA, 401(k), etc.Now, I am still in college and have yet to get a decent paying W2 job so I am still searching for the best way to invest my future income.

Is the AC in the wall a necessity?

We put in a tankless H20 heater and upgraded to a 200amp panel out of necessity. 

To me, it seems like a luxury and not a necessity. 

Persistence is a necessity at this point for me, and failure is not an option - I understand that there will be failures along the way but nothing that i cant or wont overcome. 

But the basic necessities of life didn't get cheaper proportionate to the rent, so you will end up with people lamenting that trash bags and soap are just way too expensive.