I am interested in becoming an investor i would like to wholesale houses in foreclosure. you mentioned something about it being illegal in maryland.... now im scared to death to get started. i have been reading alot on the subject and basically this is what im trying to do... im binding a property with the use of a sales contract and then selling my contract to a rehabber...is this illegal???

Rental Income from a Condotel Unit is normally 30-40% higher that a regular rental because the Hotel concept offers the option of daily, weekly, monthly leases which ordinary private condo unit owners would not normally entertain.Unit owners in a "Condotel" may opt to join the rental pool where he signs with a professional hotel management team who will convert the project into a world class hotel / serviced apartment.

You are basically using other peoples due diligence.

Looks more like a 1 fam but here in NY with the way housing has gone anyone can basically apply for a 2 fam as long as it's not a basement.The house was a 2 over 2 (2 bed 1 bath over 2 bed 1 bath and basement)When I took over the property the tenants were in there from the time my parents owned it.

Well first let me state that though this is not really my field of expertise but some of the basic steps are to review the leases and have the the property appraised and inspected.

If that were the case I thought that if you were honest with them you would have to tell them to list their house with a realtor at a very fair price to move it quickly, end foreclosure and maybe get some equity.What I have since learned is that the majority of the people wait far too long and don't contact us until it is basically too late to sell via traditional methods.

Let me ask you, how does one go about orchestrating that same concept here in Houston, Texas?

If the property passes the basic tests then you do more thorough analysis.

Who will finance basically a flip transaction:I have an investor who buys a property at a discount from a bank, and resells it to a buyer the same day he closes.

The tri is basically uninhabitable because its a SFH chopped into three pieces.