The difference is paid to you as an assignment fee, when you assign your contract to the buyer2) You put it under contract, buy it then resell it to the end buyer.Louise, there are hundreds of threads here on wholesaling.

The LOC is specifically used to finance short-term (12 month) low-interest loans specifically geared towards purchasing, rehabbing, and reselling properties.

You could find a good wholesale property that needs a little work and rehab, then resell.

It is not investor friendly as it restricts resells for 90 days and has the appearance of allowing the banks to get the property back sooner.

Buy and hold is where it's at for me.Yes, rehab-resell is quite profitable, but there are sooooo many pitfalls, so many potentially unpleasant surprises.

Specifically ask if you are a portfolio lender, or if that goes over their head as that you are looking for a mortgage bank that does not resell the note to Fanny/Freddie.  

In these forms you state that you don't have an end buyer lined up and sometimes they put a seasoning clause in that states you must own the property for 30-90 days before you can resell the property.

{At one point, HD was reselling one of the Niagara Conservation models rebranded as their own}.  

If you are capable of fixing them up, new Windows run about $130 each and new vinyl siding for $1000 will add substantially to resell value.

If so I realize now you would need to have a good amount of equity in the property to cover yourself in case something horrible were to happen, and for instance you need to call your hard money lender to bail you out and resell the property quickly.