Hypothetically - Chances are, some houses that are listed for more than 120 days would not have been maintained well, they would be sold as-is, banks will be willing take a very low price as none turned out to buy that house - That would be something you might wholesale.Dont look for 1% rule or 2% rule when you want to wholesale.

I've bought an REO to flip, done a few lease options (no one bought and I sold for break even after costs), and bought from a wholesaler to flip.

He says he would sign an option, but again, doesn't want to unless he knows 100% that it will be sold.

[/size] :protest: I check County Records daily, I probably know more about market value than 90% of Realtors, who are simply incapable of telling the truth.Check 2-3 real estate sites daily, others on a weekly basis.The market is extremely dead right now.Only 1-2 Condos sell daily in this City (100,000 pop plus)The Fannie Freddie bailout will quickly change this, (I hope)I think my $105K is conservative .The last Unit in this complex sold for $154K, (Fall 2005)The Unit was an end unit , and it was in mint condition,I was briefly in the kitchen talking to the owner, glancing about..

If you are owner financing the property, you have sold it and no longer own it.

You might be better off doing your own comparative market analysis by finding real comps of similar houses nearby that have sold in the past few months, and comparing.

They are happy to have a home opportunity.The seller creates the note for 9.9% 30 yrs which is sold at closing and is permanently readjusted to between 5-8.5% depending on end buyer's credit.The invoice to the seller / assignment to the end-buyer is where your flip profit comes from at closing.

I find the houses, I'm the GC on all the work, I get the properties sold, my partner is just the playing the bank for all funds needed.

Thank you for your opinions and advice.If it is an income property - and sold as an income property, it should cashflow.

A copy of your letter was sent to BBB."