They don't know what they don't know and so far, I've never seen or heard of any who propose any "creative financing" scheme that had any in depth finance background or knowledge.

Then there's advertising fees, credit and background check fees, gas to drive to the property to meet prospective renters...I say do your best to keep the good ones around!

The townhouse is BEAUTIFUL.  

The beautiful thing about real estate is that it's always worth something so its not like you're going to buy the house and the value magically drops to zero and you lose everything.

thank you guys for the repliesI got these steps from an investor who gave a class that has a law background - and for step five his selling point wast that you have to deliver marketable title at closing not at signing - that's why he said that it's legal to sign a contract with the buyer first before having the actual property - but I agree that if the deal is good and you have a good buyer's database - it shouldn't really matter if he signs first or not and just puts an additional risk that doesn't need to be there - just my two cents and was looking for other people's opinionsthanks again!

@Corey Davis I think the answer to your question is a two parter.Part one: Just sit down and run the numbers on your area house, and run the numbers on one of these cash houses, and compare and see what cash on cash you like better.part two: other than the return value, whether or not 20k in a higher home with higher rent is worth more than 20k in a cash home, its kind of a "beauty is in the eye of the beholder" type situation.

It's a beautiful site, and all the houses on Balboa Island are decorated, with many looking like gingerbread houses!

There are a few in Alabama I can suggest: Wes Russel - http://russellcocpa.com/4020.html Rob Burns - http://www.jessupllp.com/ If you want more names with specific backgrounds, I can ask my wife who is a CPA here in Birmingham Alabama.

Having some background in construction, fix and flip is what I would like to concentrate on but wholesaling might be a better way to begin.

When someone posts on BP, you rarely know their background or level of experience.