He also facilitates 401Ks as do I.The biggest advantage to 401Ks is the favorable tax treatment of leveraged property.

In my mind it keeps things cleaner.As it is your first deal - and particularly because most court systems favor the tenant - I might also have an attorney draft you the rental agreement.

Knowing the party your buyer is wholesaling to is irrelevant.The common law favors the freedom of assignment, so an assignment will generally be permitted unless there is an express prohibition against assignment in the contract.

If so, I need a favor, which could potentially be quite lucrative for you.

Location that will be favorably for cash flow, emerging market and not too high cost per unit?

But what is it with people when they provide the BS advise thinking they're doing you a favor?.

I am going to fix up most of the stuffs that the buyers expect and favor like installing new floors, appliances, paint, nice bathrooms and kitchen and etc.

I did a deal recently and the seller took back $100K at 4% on a $110K purchase price.If the seller is going to get full price, he should be giving you favorable terms; low monthly payments, low / zero down payment, long pay back period, etc.The real reason I like seller financing (I prefer to call it seller terms) and don't focus on price/terms up front so much is that the deal isn't done until that note is paid back in full.

We obviously have a vested interest in what happens with this property because we would like to bid on it again.As far as "fixing up someone else's house for free," they are not doing anyone any favors.

I see how that could maybe work for or against my favor.