clarification : in point 2 . i meant your mortgage plus maintenance cost have to be LESS than the current rent, that way you walk out with some positive cashflow every month.

I think what was meant to be said was that a PROOF OF FUNDS from a hard money lender was meaningless (i.e., proof for a cash offer).

I actually meant to post this in the Real Estate market place as I wrote an article on "who do you listen too" on my blog.

I have typically used 5% vacancy and 5% maintenance when forecasting, I just meant that those numbers were not included in my post.

If you are trading for your own account ie your own entity it is 100% legal.Think about it this way: Freedom to and of contract is a public good.You entered into an agreement to buy a house.You elected to assign the contract.Therefore any restriction on wholesaling is contrary to public policy!

I pledge to read every possible applicable thing here that I can.Question: What is meant when you say a "Turnkey" purchase?

Hi Isaac, I think I meant amendment, not addendum.

I didn't meant the ARV.

@Taylor GreenI usually have an attorney appear & motion for a lift of the Automatic Stay.Can't give you legal advice as far as verbiage to use & think you meant to ask " safeguard against the borrower going into bk"All important question to ask before releasing money into the unknown.

That meant calling people, visiting with people, marketing, networking, getting "out there".Now ive done a couple deals, and have several in the works.