@Robin TamburriJoint venture with the seller on minor rehabWholesaling offer was terrible for the seller, 70% of after repair value minus costI proposed to bring in my own money, fix it, resell it, and make a JV fee of 7%I used private IRA money to fix itThe seller was happy because he made 30,000 more than the Wholesaling offerI gave them a note for his equity in the note was paid off after I resold it; I negotiated a moratorium or no payments on the note for four monthsThe private IRA lender was in second positionThe private IRA lender was happy because he made ten per cent in three monthsJoint ventures with sellers on minor rehab that just need new kitchens and or new bathrooms because it's grandma's house are an excellent way to get started; you do need private lender money and you do need good rehab crewOnce you do three of them you can go to probate attorneys, show them that houses at just need updating and not major rehab you can help them with No Hard Money needed eitherMy student @Mark Brogan is in VALook him up

My questions are about the process of finding deals and financing.Example: I find a house to rehab and resell on the MLS.

Many resellers do the cheap stuff and say it is "turn key".

Instead, they buy the property and immediately re-sell it to another investor.

Give the seller their $100,000 and I pocket the surplus.That seems to be very similar to what a wholesaler is doing except most do not have a license.Of course I would disclose that I am licensed and planning to purchase and resell/assign for profit. 

Also comps in the area are between 70k and 74k Here is your problem, 2 B are hard to re sell and low rents.

If you intend to resell, you will have cost of sale.

I had 350 of them at one time.. lots of work owning rentals... 2. this happens with any rental regardless if you buy it from a fix and flipper who specialize's in selling rentals ( turnkey company) or a fix and flipper who just puts them on MLS.. bottom line someone buys a home fix's it up and resells it no mystery there.  3.

Mission StatementBuy distressed properties with a primary focus in Bayonne NJ Add Value to them through a rehab and resell them at market value for a profit Goal for next six monthsStart at least 2 new Flips a month.Marketing Plan 1.Send out 5000 Mailers a months.2.Make 2 offers a day on Property’s or 32 a month (4 times a week )3.Driving for dollars 2 Hours a weekCriteria for investments 1.1-4 Family homes2.Maximum purchase price 250K3.Maximum repair price 65K4.At least 25 Percent Profit on ARV Steps 1.Generate leads2.Make an offer based on Estimated work needed and ARV3.Sign A Contract Subject to Inspection4.Do A home Inspection / Get an Appraisal for ARV / And get cost of rehab from GC5.Close on property / Finish Rehab / Sell property My Team Attorney I have Licensed GC I need to find (For bigger jobs or pulling permits)Sub-Contractors I have (For simple tasks)Home Inspector I haveAppraiser I need to findReal-estate Broker I have

You are buying and marking up and reselling things like a retail store would.