Hey there John!

There Are Four Ways To Make Money In Real Estate1) Wholesaling- finding bargains and selling them to bargain hunters.2) Retailing- Where you would keep the bargains yourself and fix them up and sell them at retail price3) Getting the deed-taking over ownership of properties "subject to" the existing mortgage4) Lease option/Option- taking control of properties in cases where the owner won't deed you the house until they get cashed out or their loan is paid off.In Wholesaling you wouldn't hold on to a property.

Originally posted by John Evan Miller:Whether you live in a property or rent out the property, they both have depreciation. ... http://www.irs.gov/publications/p946/index.html...

@John Fossetti @George PaivaThank You all and I've learned so much already just reading the wealth of information here on BP I can't wait to make my first real post soon with some of the many questions I have regarding a potential deal I'd like to get the jump on !!

I agree with John about searching for a new property - that's definitely a bit harder.

John, Thanks for your response.

I can attest to John Jackson is a great direct marketer for Sellers to consider Lease Option Assignments - Wholesaling Lease Options - Cooperative Assignments.What I do is slightly different:Marketing 101 for sellers - Door to door #1 and #2, Networking #3.1.

That said, it is an excellent resource as there are deals to be had and buyers to be found.Like John said, you'll need to do your own research / due diligence, but there are plenty of "real" buyers and sellers on the site.We have bought and sold properties through the site.

John, I am so grateful to you all--and the BP forum.

Good pitch from John!