If I'm buying "whoops" paint at HD for $5/gallon and you're paying $20, my costs are lower.

Loftis, EsqI found this book to be very useful and it explains how each state works, examples of what to do and what not to do, tips for the actual auctions, and tons of emamples from the author's own experience.

According to the location, houses sell for double the asking price. the property needs minor work (painting primarily).

. $10,800 to bring current $5,000 for the deed $5,700 for carpet and paint $750 for other costTotal out of pocket $22,250 to take control of a 500k plus property based on appraised valueI did a lease option for 5 years at a lease option purchase price for $549,000 with 25k down and $4,500 a month with 25k towards the purchase and $500 a month credit towards the purchase of the home.

Any tips to improve this site will be appreciated and considered.

I've always suspected this thing goes on in sealed bids, but didn't know there was a term for it.....Ray (and anybody else here).....regarding Realtors and their "ethics"First off, let me say this...I realize I'm painting with a rather large brush here, and this isn't representative of all realtors, just some I've met.

Thanks for all the great Tips, Charles!

It works, it takes time, & remember the best tip I can tell You is that EVERYONE You meet has a DIFFERENT Circle of Friends/Associates/Co-Workers/Family than You.

If anyone has any tips to help me get the financing and get started, please let me know.

I would just hate to build a brand new place, rent it to poor people, and have it have that grease smell that you smell in every house in the hood and no matter what you do the the flooring and paint it will always be there.