Here's the conversation between me and the selling agent.http://www.houstonhotdeals.com/conversation.htmActually after further research I would recommend offering a much lower price than list on this property based on how long it's been on the market and comparable properties. http://webmail.valueweb.net/index.cgi/login/realtor%40houstonhotdeals.com.authcustom/CB849D21744332A63EB953C4B3FDA188/1192235532?

my friend doesn't have any money either, its just that he is willing to take the risk & the big reward on the rehabing side of the dealme i don't want to take the risk on the rehab side of it (especially on this property), i just want to get the property under contract to flip it to him for say 5-to-10 thousandnow the property i believe is'nt owned by a bank, its owned by some corporation which i'm having a hard time finding info on them and how they come to own this particular property, and why their willing to sell this property this cheap and etc (actually after some more digging i think the company is a lawyers office or something, because that is whats coming up as the owners of this property, so i don't know if it really is a bank behind this deal but their using this law firm to dispose of it for them or what)now i couldn't find the name of this corporation, but the address i got off the tax assessors record, i researched it and the building is nothing but a bunch of law firms and etcits just that all the stuff i've read on wholesaling nothing really stated anything about having to come up with that much money just to get a contract on a property and etc. i know what earnest money is but most of the stories i here is people using between 10-100 dollars or so just to tie a property up..............now is mine higher because of the real estate agents lack of trust or something

there is really no other city to compare vegas to in terms of characteristics.in my humble opinion, many so called experts do not take the tip/gratuity income into account.

I welcome the help.I'll look forward to the rewards of being part of this community.Be blessed!!

I have found a brand new one in an area that has no rent control, low unemployment, high job growth, good renters market, low crime, for $335,000 with reputable onsite management....So my question is : If this deal sucks how is it possible to get something better.....Or is it really that you are saying that as compared with a decent stock performance...this is bad.Thank you both for weighing in!

Given market conditions (very slow compared to 1 year ago, very few buyers right now) he will take $270k cash from me.

Additionally, I have set up a rewards system based on surpassing milestones within my goals.

It will not cost all that much compared to the damage done if you get this wrong.You also might find that selling and taking the cash to invest in a different market provides better returns.

Also most of the comparable homes in the area sell for 55-65k.

Few basic reasons i moved here was the avaibility and price of rental property compared to Arizona, and then I had some family here to help get me on my feet and get started.