I've closed some deals with wholesalers on 1 page contracts just the same as longer ones.As long as you have sufficient verbiage to allow for due diligence or option periods as well as the seller allowing proper access to the property for buyer final approval I think you should be fine.

There are only a few ways it can go OK.If you want to do this, insist the seller apply your down payment and enough additional money directly to the existing loan to bring it down below the loan balance.

So, the proper percentage is 5.55%.

There is no risk-free way to double your money. vegas, options, futures, and pretty much everyhting so far in this thread equates to the same thing. unless you are the next next Mark Zuckerberg, focus on balancing risk with reward and you'll be able to turn the 500K into a million over a period of years.

Of course the mortgage company gets their piece, and this is where it totally sucks.The local municipalities around here have ordinances that force the ins. co to send them a check for 25% of the total loss or the remaining balance after the property was paid off (up to 25% of the total loss).

It is not much better than going on a future trading forum and telling how much easy money you can make in real estate.I know a couple ways that work, but without proper managment and proper capitalization, you may have dizzying drawdowns for many months.

What is a more proper way of comping a house/deal?

Lokesh: if the home is owner occupied now and the owner is paying more than 31% of net income for PITI, than she could be eligible for a modification if the lender participates in Making Homes affordable. there are other in house modifications as well.If the homeowner qualifies the minimum payment could be as low as 31% of the owners gross income if you calculate a 40 year amortization at 2% for 70% of outstanding balance with a 30% balloon at the end of 40 years which will have no interest or payments for 40 yrs you will see what a minimum payment could be .

The C Corp is really no more adminstratively intense than a good LLC properly managed, both are very similar.

Plan to spend $20-30K to get this set up properly.