My goal at the time was to surround myself in the industry so that I can learn and basically live and breathe RE.

Can anyone explain to me the basics of wholesaling?

Realtor's listing price is $165K, opening bid (from realtytrac dot com) is $152K and city assessor assessment is $170K.

I'm basically looking to make sure I'm on the right track of thinking before jumping in.As background, my wife and I own our house.

Not sure what you can legally do in California James but I would certainly get her some pepper spray and basic defense training.

Thanks for all the welcomes guys, basically I started about 4 years ago when I borrowed some money from a relative and purchased a fixer upper.

Never mind all the costs associated with the two transactions, the new roof that had to be put on, the new sewer line, the city's assessment for sidewalks, four coats of paint and a complete set of appliances.So, do I think you should buy this new residence at retail?

Aside from meeting basic legal requirements for any contract, everything else is entirely optional, including the security deposit amount.

Put the right to show 45 days prior to the end of the lease as well. 5) Remember if one leaves, you've got to assess damage before the next substitute moves it.

Basically, from the lender's point of view, your friend (their borrower) could be in this just to split the $90k with you.