However to have a consistent wholesale business it will take money for marketing and this would be our biggest expense. 2) You need an Earnest money deposit to put the deal under contract - typically $500-$2500 but can be as little as $10 or $100 if dealing directly with a truly motivated seller. 3) Money to make the deal happen - fees to a title company etc.

Biggest benefit you have though is that you're in TX which means it takes no time at all for an eviction so worse comes to worse at least it won't be too hard to take possession.P.S.

John thank you for the the welcome, Honestly a family member told me about a house, and asked me to parner with him, Ive been brush up on education for weeks, then i got a call, saw an opportunity and took it.As far as me know exaclty whats gonna happen in midtown, im unsure of, ill start paying more attention to sources, however is there any place special i should look to study my environment?

As such, we need to look to the source of the S corporation's gross receipts.The three major sources are: 1.

Even if everything is updated you still have to budget for replacement as everything in a home only has a limited lifespan.The biggest mistake I see people make in this business is to buy a rental assuming that their only expense will be PITI and calculating their return on that.

I also went to GA Southern for a couple years so spent plenty of time in Savannah.The biggest advice I have is to make sure the numbers on any property you find work, i.e. it is anticipated you will receive positive cash flow.

Some people just get off on being the biggest fish in a small pond... while crapping on all the other fish...

The city is a good source of jobs.

The biggest thing I would have done differently would be in the negotiations to purchase the property.

Its good to have a source of like minded/experienced investors.