I'll gladly post it here on the site so others can benefit from it.

If so, do you think that the numbers they quote for specific renovations are accurate or is there a % that I should adjust to get a more accurate number?

"be aware of any transaction where the seller is giving cash or other benefits to the buyer of the property."

As for displaced Katrina victim's.....I agree that some of the individuals are not adjusting well to their new enviroment but, many are becoming productive citizens and adding to Houston's strong economy.

We're glad you're here.Since you know a little about pre-construction investing,maybe that should be where you begin.Maybe not right now, but in about a year, the prices inCalifornia will adjust to reasonable again, and there will be opportunities for fix-n-flips.

Assignments helped to drive real estate prices into artificially high values, forclosures are on the rise because of adjustable rate mortgages, and the bank is stuck with a property that isn't actually worth as much as they lent on it.

Bothhis welcome and his advice are spot on.Look for deals where there is a deep discount. 10% isjust a minor adjustment!

We begin the due diligence process, looking at… • The country or region • The developer and the developer’s plans • The future of the country or region and how it relates to the interdependent influences of other economies • The risks and potential rewards, the costs versus the benefits • Ultimately: is this something I am willing to invest in?

I know a lot of the benefits but I also want to know what the drawbacks are.

Just some comments to flipper 101 as to that land contract transaction that went south.Well it does not surprise me since anybody can bind the other and to split the legal title with the seller and equitable title going to the vendee or buyer can lead to diasterous results on the title on the property if the buyer claims an equitable interest which he has..and getting a tenant out if he defaults can proves to be a nightmare and how he binded you by encumbering the property is unbelievable.If you suggest using an outside entity such as a trustee why not just use a land trust and get all the benefits of using that enitity and thus by the trustee holding bot the legal and equitable title called the doctrine of equitable conversion now you have a situation where not other party can take advantage of one another and you would all vote to your designated trustee on any and all affairs of the trust property due to it being a beneficiary directed trust so you must ALL be in agreement, sure avoids litigation and disputes and no one can circumvent you on your investment.I know that feeling of getting burned which is why I use land trusts in my investing since all parties are equally protected in any given transaction.We all made our mistakes in this business..that is for sure..