A prospective Lease-to Purchase was lined up to occupy the home and cover the mortgage payments in many variations of this scheme a portion of the kick back money was supposed to "protect the Investor" some of the bolder operators actually marketed this a a second chance opportunity for the cash rich and credit poor (People with income that was "difficult" to document) The rapidly appreciating markets allowed for substantial "equity spreads" the source of the "kick back money." i.e the FMV is 100K the seller has 45K into the property and would be happy with netting 18K profit, the change goes to paying all the closing costs and a gratuity to the buyer.

I much perfer to be conservative rather than gamble.

Of course the same house in Ohio is worth less than in California - the weather is different, the pay scale is different, the amount of available land is different, and on and on.I would pay $500k in a heartbeat if a house in my neighborhood was available for that and turn a big profit in short order.

people from habits & habits from form future procrastination is the thief of all profits focus on the rewards not the processyou dont have to get right, you just have to get it going tour eith consistent or non-existent

If I were to rent it, I could barely cover the mortgage but if I put it up as a lease option I can see a little more rent and profit in the end.

If manufacturing comes back in my lifetime, I'll be happy, but I'm not holding my breath or gambling my future.

Being able to fix problems that others don't know how to deal with can be a major source of profit in your real estate business.

That leaves you 500 per month for mtg pmt and profit.

I can do all the work myself so that will help broaden the possible profit margin.I know a lot of it is area specific.

So, yes, you will need money, and will have to actually close yourself.How do you plan to sell it within 30 days for a profit?