Now obviously to sell to other investors means you will have to buy at a significant discount or a at non-retail (wholesale) price, but the biggest component to wholesaling is selling quickly to OTHER investors for cash.

The biggest factors in a REO price are time on the market, condition of the property, fair market value of homes surrounding it.

On the down side when he calls at 9:00PM to tell you the dishwasher quit he doesn't want to hear about labor pains, he just wants to "see the baby".The $700/month tenants wil occassionally be late, they will always say "I was just getting ready to call you" when you call them, their checks might occassionally bounce but they'll likely be flexibel (up to a few days) on most "non critical" repairs.

Mike,:welcome: Good to have you on board.Your biggest problem will be a tendency to let other things take priority.

The downside is that the meetings are really big (300+ ppl) which means you have to be proactive if you want to network effectively.

I think my biggest problem will be how to approach people and try and convince them of what I am doing.

I'm very handy and always work hard but the fear of the unknown is my biggest concern right now and causing me hesitation.

Are there any downside of buying a fixer upper with all cash?

What are your 3 biggest challenges in real estate investing?

My biggest question for now is: I have heard that Minnesota has a new law thatwent into effect 8/01/07, that might affect a REI doing his work with pre-foreclosures.