Being an old hand at this game in Europe I have entered a world that has so many abbreviations and words that I have no idea as to what context they are meant for.

Internal Revenue Code § 453 defines a dealer disposition as Any disposition of real property which is held by the taxpayer for sale to customers in the ordinary course of the taxpayer’s trade or business.

This is a resource that many people do not use because so many are getting in the game the wrong way.There are many ideas out there that can benefit you, but think of it this way, they start at 8 or 9 and they drive neighborhoods and find those houses that you can not or that you have overlooked.

The latter is the group that gets how this game works.

State fees are unavoidable no matter how anyone files their entities, and S&H must be charged to cover the costs for multiple UPS shipments (for tracking since these are legal docs) between MyCorp, the customer, and the state.For more detail on what *is* included at no charge (quite a bit): I posted a classified in here last week that gives the specifics and the link & phone# for more info.

Sorry to be late to the game, but some thoughts...Check what homes nearby have recently sold for. www.realtor.com is a good free resource or google the assessor's office of the city the property in question is in.By all means, do a walk through of the property if you haven't already.

We are both new to the game, and when I say new I mean really have only limited knowledge.

I was looking at doing a purchase loan for a customer.

If I am looking to wholesale a $100K house I will build in a higher profit margin for myself to compensate for the higher risk.One more side note here is that your best customers as a wholesaler will probably NOT be investors that rehab houses to resell.

i dont know...i do know at $300 it still makes damn good cash flow...the property is still marked active and not UA yet...but i have a hunch its going to be foreclosed onim also not worried about having an empty apartment, thats part of the game...in my market i can fill these 3 or 4 bedrooms in this neighborhood very fast even in the winter, they are way above average units...if i can get it at $300K- great if not o well...im not planning on getting this one, bc there is another (supposedly) offer that is higher...there is a chance the realtor was pulling one on me, but from the start i said i'd go to $300K, therefore i started at $270K