If I had an accurate picture of the sellers actual expenses, the NOI would be higher, as I know they weren't spending much on it, but they couldn't have been making much profit, so the cap rate would still be really low.  

But i know the wholesaler closed with their own cash.Wholesaling is not easy, once you get the seller on the phone you then need to get them to sell you their property at a price where you make profit, there is room for a rehab budget selling/ holding costs, and your buyer makes profit.

Where you may have several 100 replies to your mailing which means 600 call backs.Side note is that we moved to small towns up and down the major freeways because we hate this kind of crazy hard work.  

I don't see someone buying this type of property when there is not much money to be made even after you put in and fix it up it would be worth about 75,000 and the note needs to be paid which only leave 7,000 profit which doesn't include closing costs and of course anything I could scrape off.

I will have to admit that i have thought back many times to before i was married and had 3 kids that if i could have done it again that would be what i would have done.Condos could be good could be bad... the thing you want to watch out for is the association and how often the increase the dues... they tend to cut into your profits.

We absolutely love Austin and we feel like the opportunities in real estate, if done carefully and correctly, could be pretty lucrative (not to mention fun).We're contemplating downsizing our current home and using a large portion of the profits to start investing.

I profited 15k when I sold it.

Also some more creative private lending terms out there- 0% down, 2 points, 8% interest, profit split on the back end (2/3 to developer 1/3 to lender). 

The easiest one to manage is in a slightly upscale bedroom community close to the highway but still an hour from a major city.

I first jumped into the market by purchasing my primary residence in 2012 (which I recently sold for a profit in May 2016).