I am up to my eyeballs in debt so I don't have any capitol to start, and I want to learn to wholsale so I can pay down a bit of my debt, and get a little extra to start rehabing my own properties.

Take the emotion out of it, and trust your numbers and the data you have to support your decision and that will help to reduce your risk and hopefully set your mind at ease as you do your first deal.

Of course with many houses running well over $1mil, coming up with an extra $1-$2k isn't that hard for many sellers but I see your concern.

www.bestnetcoach.com I don't give any extra support to those who don't pay for it but you are welcome to look at the material there.

That is unless you are just looking for somewhere to store extra cash and beat inflation.

Ok, perhaps not that complicated but requires you to go that extra mile anyway vs. just purchasing as an individual.I do agree that home equity is usually cheaper money but there are a few reasons I can think of to use a mortgage on the investment property instead: (1) you will continue looking for other investments in which case, access to maximum cash via your HELOC may be important; (2) you *may* end up with positive net income on the property without having the mortgage writeoff - this means a visit from the tax man.

What’s a few extra zeros among friends?

It is too risky for them to have a mortgage with an LLC over an individual.It sounds like a good idea to have a seperate LLC for each property, but check with your accountant first because it costs extra for each seperate entity that needs to file taxes.

also - when you run an income and expense analysis of a property - if it's an apt complex or multi-family or even a SFH rental - and has been for a few years - getting all those numbers should be a contingency or part of a binder - allowing you access to the sellers income and expense data for the past 2 to 3 years...of course, being an investor yourself - you've got to remember the number one rule for investing (for us anyway) - DON'T TRUST THE SELLER.

I mean you spent $265K for a rental... don't you don't want to pay an extra $265 for new instead of used?