Mike, if you read the IRS guidelines, you will note how you become classified as a "dealer" and thus how you are taxed differently.

If I want to read about wholesaling, I don't want to scroll through the Starting Out section to find wholesale posts, I want to read about it in the wholesale section while my mind is geared toward learning about wholesaling and grouping information in my mind about wholesaling.By looking at the post counts, it almost seems like all the other sections should be consolidated into one thread or the Starting Out section should be removed (or even better- fill it with stickies with general FAQs) to force posts into the proper sections.I think that it's almost an option where to put it- I could ask a rehab question in the rehab section, or just put it in the general since anything falls under general.

I have seen this idea used in other states, in affect, the seller did not have the legal right to extend financing at the time the note was agreed upon, at least thats how it played out in a deal I saw go through in Arizona.

Before we break contract, however, we will both sign a promissory note stating that he will pay me the difference in the option price I had with him and the option price agreed with the end buyer that I found; I will get paid from the title company as a lien holder at closing, simply having them wire my fee to my bank account and me never having to be at closing.

At this point, I've had some help coming up with a good promissory note to sign with the seller.

The note is still in the previous homeowners name.

Please allow me to apologize ahead of time if I have put this in the wrong location.I have an opportunity to purchase non-performing notes.

During this time Blank will give a promissory note that will be guaranteed by Blank, and secured by this project.

We basically offer our investors a rate & term refi out of a private note within 45 days based on 65% of the banks current appraised value.

We basically are able to offer a No Money Down deal by selling properties with a private note and mortgage at a purchase price based on 65% of the current appraised value.