Now, keep in mind that if you go this route, then all of the gains and profits from the deal must go back into your retirement account (sheltered from taxes) and you are not allowed to do any work on the property yourself.

After 7 years we sold it for a nice profit & that broker still sends us xmas cards.

In California my largest wholesale profit was 20k.

Profit Margin (will I make enough money)2.

I'm looking to utilize my knowledge as an agent, as well as my degree in Accounting, to develop a highly successful and profitable business.My overall goal is to purchase single family homes and 2-5 unit buildings, and rent them out.

Here is a copy of part of the definition:"A liability is a present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits."

The only time buying a nice house at value is bad is if the profits aren't there.

Really that simple.Of course, the pitfalls are:- Extra time/effort/risk in permitting- Extra holding costs- More risk to the budget- More risk to the project if you're experienced/comfortable doing additionsI think this is something that any serious rehabber should have in their arsenal, as when inventory gets tight, these types of deals are often the ones that are available/profitable.

Happy with the way it turned out and the profits.

Leases are key with the stated income and profit might be off of vintage leases at high per sq ft amounts.