Gary,The truth is many wholesalers don't have a dime to their name.They read some get rich quick crap and try to lock up properties for 10.If I am a listing broker there is no way I would allow the seller to go through with such a deal.I would insert multiple clauses if they insisted to a right to continued marketing and a termination clause by the seller at any time in the contract.After all if YOU the buyer have no risk then the SELLER should have no risk either.If you put up a bunch of money that you stand to lose you will hustle like a SOB to FIND a buyer that will perform.If the seller tries to pull the listing early or withdraw there usually is a protection period built in for the broker unless the seller re-lists the property with someone else.Every seller will go through a sales cycle.Sometimes these last more than a year.The further desperate they get the more they will drop on price and be open to creative financing to eliminate their problem.Banks are sellers too and operate this way.I see many bank foreclosures overpriced.Over time they reduce to sell.If you are a wholesaler finding listings on the MLS is NOT the way to go.As a listing broker I would simply tell my client.Rather than selling that low let's keep reducing the price by xx percent each week until we get a contract.This way you will know the highest price the market will bare and not leave any money on the table.The problem is often listing brokers wait too late for a price reduction and it is still overpriced.When a seller reduces they have to be in the bottom 50% of for sale pricing to get a contract unless they have an unbelievable property which isn't the case 99 percent of the time.

We took the house because we were lead to believe that the landlord would have it professionally cleaned with all the locks and security being taken care of before we moved in.Well...It's moving day, we pick up the keys and the house hadn't been cleaned at all, the real estate agent said her hands were tied as the landlord decided to go overseas and had become unreachable, the only thing the agent could do was get someone to come in and steamclean some of the rooms and get a cleaner in to wipe down the benches and stove, needless to say I was so distraught, the very thought of moving and then cleaning an absolute disgusting mess made me irate.After the steam cleaning, the steamcleaner came out while I was driving into the driveway and told me that he had tried his best but that there is a severe stench of human urine scattered throughout the rooms that he found almost impossible to deodorize and clean out, he said air out the whole house for a few days and then see how it goes?

Repair/replace damaged wood in the ceiling and sheetrock the kitchen ceiling)*Install new 60” kitchen base, counter and sink*Paint throughout (1,000 sq. ft. house)*Replace 6 windows*Secure rear basement door and basement windows*final interior cleaning/disinfecting*Install new rear entry door and front basement door (Steel entry door in the rear and solid wood door for the basement)*install new locks (keyed-alike)*Install new glass on rear door (a piece of 2x1 glass)*Replace front stair treads (about 40 feet of treads)*Replace bathroom subfloor and “sister” new joists (approx. 50 sq. ft. of subfloor)*Install new tub surround/vanity/faucets*Install insulation under bath/kitchen*Fabricate new handrails for rear stairsLabor price is $3,900 and material price is $3,100 for total price of $7,000.

I've also seen people in your situation literally throw their stuff into the yard and change the locks!

Hello everyone,I just wanted to share with you all the new investment property I just locked up yesterday.

You should have locked if up in the area of 55C-65C on the dollar then try and wholesale it.

Gus,Next time before you lock up a property to sell make sure you contact an appraiser and see what it willappraise for for the next 90 days.

Then, I throw it all away; clean up the place; change the locks; and re-rent it ASAP.

How long would you say it takes to really become familiar with an area. What size of an area should you start out with?

I'm looking at a fairly large neighborhood with at least 100 houses, I am trying to document th...

This is a Freddie Mac loan and underwriting has been slow as heck ...going down to the 60th day lock I believe.