Usually I post obviously helpful posts with lots of tips for wholesalers, but in this case I'm trying to help you take a deep hard look to see if you *really* want it.

This was my first real estate seminar and I was disappointed that there isn’t more of a community of people willing to just help people out for free or nominal costs other than sites like deep pockets.

The owner has deep pockets and just wants the unit off his balance sheet.  

I'm just trying to clear up this confusion before I jump into anything that could possibly get me in deep trouble with the law.

When we were deep in debt I discovered the world of personal finance blogs.

Hey everyone, trying not to jump in the deep end before I can swim but my personality is to get over excited and ignore the warning signs.

You need to put up possible numbers so that very experienced investors that are local to you can quantify if you do indeed have great deals to buy.Often for some investors who do not have extra deep analysis and experience with certain types of properties their touted good to great deals might be bad to mediocre deals.Before presenting to an investor with deep pockets you need to verify it is a great deal otherwise your initial presentation to them will be a future turn off to more business.

This assumes it's with a bank and not Fannie Mae or HUD...Foreclosures are generally priced at what they are worth, sometimes more than they are worth because the bank is trying to get their money back.If the houses in the area go for $200K, that means the house needs $70K or more worth of work.Flip profits come from buying houses at a deep discount.If you want to know if the house is worth buying, you need to hire a contractor to do a walkthrough to give you an estimate of the repair costs and assume an addition 10% for overruns.

This just in: We may have found some deep pockets to fund the flip.  

How deep is the discount?