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Awesome post Tony,Our goal for this year was to do 12 deals and we ended up doing 37 :)Not bad IMO since we only opened doors in April.Didn't think big enough tho for 2014 so we have set the bar extra high for 2015.Plan is to do 100+ turnkey, wholesale, retail, etc...Thanks

@Joe HilleslandMeetup's coming up are as follows:https://www.meetup.com/the-bar...This one is all day: https://www.meetup.com/bay-are...https://www.meetup.com/the-bar...https://www.meetup.com/the-bar...If your interested..

There is a handy search bar in the upper right that makes it easy to find previous discussions, blogs, podcasts, and other resources.

I am not sure about other states but I know on the Florida FAR/BAR as-is contract there is the option of allowing the buyer to assign the contract but still be liable or assign the contract and be released from liability.

That 20k wholesale fee just reimbursed you your out of pocket on the deal and you my friend have 0 equity in the house.If a Lender catches you, they will bar you. 

That said, if your comps don't require it, and your ARVs aren't there to justify the additional cost of finishing a basement, leave it unfinished.We have built SFHs on the North side of the city, and while our demographic and price point is different than yours, for a 3000 SF house we would generally do the following:-4 beds (3 on the 2nd floor + 1 in the basement)-3.5 baths (1 ensuite for the primary, 1 shared for the other 2 bedrooms on 2nd floor, 1 full bath in the basement, powder room on main)-Completely finished basement with rec space, storage, laundry, wet bar*I don't believe you'll be able to fit 4 decent sized bedrooms all on the 2nd floor with 3000 SF.

I prefer building new, and most contractors I know do as well.The bar has been raised in my market a LOT.

They have lobbies, restaurants, bars, gift, clothing and sundries retail shops, public meeting spaces, public event spaces, parking lots, front desks, 24/7 on site employees sometimes numbering into the hundreds, daily maid services, on site maintenance staff, signage advertising their business, they offer shuttle transportation services, concierge services, etc. 

Particularly be sure to include your goals for real estate investing so that folks can help you. 2) Go to the Search bar, and look for some local members in your area!