The basic principal for us is that we don’t care much about cash flow, although we do like to break even.

So i was talking to a lawyer about my business model and i asked about double/simultaneous closing for wholesaling banked owed property, he basically told me that its not possible, there is a 90 day seasoning and why would a savvy rehabber investor who has access to the mls go to you for these properties. so here is what i propose to investors that wholesale banked owned properties, First off how do i get around the 90 day seasoning, if there is any seasoning and most savvy investors has mls access so how would i make reo properties attractive to an investor with mls access, what properties on the mls should i target

I seriously think that some landlords (mainly talking about typical private individuals here - not larger management companies) forget about the basics!

I've been analyzing some deals and the possibility of using Homepath financing.I know and have looked up the basics of the Homepath program but wanted to hear from BP nation your experiences and thoughts.Also, has anyone been successful in getting the asking price down significantly or is negotiation limited because these properties are government owned?

Hello again,Does anyone know where I can get a basic income statement for a SFR I am trying to refinance and the bank has requested one.

I immediately stopped investing the retirement funds and basically asked the IRS to "audit" exactly what I was doing to determine if it was legal; basically, if you initiate the audit and it turns out you did something wrong, the IRS will tend to be a lot more lenient than if they initiated the audit at a later date.

A quit claim basically says "I'm selling you whatever I own, but I am not stating that I own anything in particular".So, this guy will sell you whatever he owns (which could be nothing since the bank now owns it).

You're basically all right, I'd like to wholesale REO's and have as little liability as possible.

total estimated interest = $4.7k2) LOC refi- $2.6k in closing costs, plus $2.9k interest over the 24 month life of the LOC equals total cost of borrowing = $5.5kSo basically for the LOC i'm paying $800 in additional costs over the two year period to gain access to the remainder of the LOC ($92k) at 5.75% interest to be used to jump on cash deals, etc. if needed.

I also felt there were some problems coming in real estate so sold quite a bit of it to be able to use the losses due to the stock market fall.I'll keep this short, but I basically have trust set up that bypass my children and go directly to my grandkids.