if you find someone could you copy me also?

Wholesaling or flipping income would be taxed at earned income rates where as cash flow from rentals are taxed at passive income rates and properties sold after 365 dyas are taxed at long-term cap gains rates.

I subtracted from the cheapest one because that sold in March.

An REO is Bank Owned asset and is no longer a type of paper product,Non performing, scratch and dent and performing loans are sellable but are quite different from an REO type of saleLoans have a much greater due diligence effort as each hard copy of a loan is detailed with section 32, TILA, Note Riders etc...

Know all the solds and current listings in the area, and send six mailers a year to your farm area for maximum results.

Obviously, if it is on the Market, contact the sales rep/agent.I hope this begins to help you get a better picture of how you may want to approach the Westchester Market, but do not give up---however, make sure your asking price is within the typical price range of properties bought and sold in Westchester County.

Example: Lake found a brand new home in a great area that was foreclosed on the builder; it was appraised at $268,000 and the asking price had dropped to $34,000.† While it had been sitting vandals stripped out the wiring and plumbing so it needed about $20,000 for rehab costs.† Once restored, the property can be sold to a prescreened buyer for $190,000.

Last REO I looked at (in absolutely terrible condition, but in a so/so neighborhood) sold for well above what the bank had it priced at -- because a torrent of flippers bid up the price!

I am happy to have found this and can't wait to dig in.I have sold over 25 contracts (not properties, we sell paper, Realtors sell properties) in the last year alone on a part time basis.

At the sale the deed is sold to the highest bidder free and clear of everything.