Have clear rules so we know what you will fund and minimise the unnecessary paperwork.

Now you should take the 70% of ARV rule = $101k minus your estimated rehab of $52,000 so its purchase price for me not more than $49k.It depends on the age of the propertie if you should use a 50% expenses rule or better a 60%, I take always 60% if older than 40 years.

The first deal I did was 100% financed,So were the second, third, fourth…well, you get the picture.I am closing on a 10-unit in a couple of weeks, and this is the first time that I will leave 5% of my own money in the deal for a while.So YES, it is possible.

This one can't even meet the "1% rule", and most will tell you that at 1% you are lucky to break even at those low rents.

I did not tell RE agent because I thought the 90 day rule had been waived by HUD for FHA insured loans through 2014.

Depending on your state and local rules, and whatbisnwritten in our contract, you may be able to sue for damages.

I read through the rules and one that I thought was odd was this...

And do it consistently.For example, I'm closing my fourth wholesale deal of the year this coming week and they have all been MLS deals that I have gotten for well under list and market price.Jon may be correct in saying that if you plan to stay in one particular market and do all your deals in that one particular market or city, private sellers may be the better way to go.However, if you can set your business up to do deals in markets where the conditions are right, farming the MLS and wholesaling those deals can be extremely lucrative.That being said, I always have letters or postcards going out to home owners, all the while farming the MLS in selected cities.

They can't sell them because the paid too much. know the rulesSome of the risk is not knowing the rules.

Volcker Rule is a big threat to them.