You need a competent RE agent, like most occupations RE agents fall into the 80/20 (although it's probably closer to the 95/5) rule.

Do spec homes being sold at 70% LTV fall into the wholesale category?

There are ways out of a property if things fall through with your investors, but from what I've read, if you are to build a reputable name and business for yourself you need to have the financing lined up yourself if an end buyer does not come through.

Some communities are really nice but with factories closing the prices are flat to falling.

Don't fall for any of those late night infomercials offering get rich in real estate schemes buying property with no money down.

My reasoning is that soap dishes are often the point where cracks and gaps start appearing, and frequently old soap dishes "fall off".

He looked at me with a blank look on his face and after a long silent pause, he said, "That wouldn't happen because I would know if the deal was going to close or not."

You just have to go about the process a certain way in order to fall within the guidelines.

Many friends who moved from the UK to the US fall into this.John Corey

I guess I have a high tolerance for risk...I am aware that although we may be in a buyer's market, there is a strong chance that home values will continue to fall...I appreciate your input and thank you in advance...cheers,bob