Something that interests me but I haven't read any conversation about are the pluses and minuses of buying houses that are great rentals versus houses that may be a little higher priced but will bring in a good profit in a few years.This seems like a very exciting time in real estate to me, prices are all over, forclosures across the board from the best to the worst neighborhoods, and alot of things going on in the banking and credit industries.I just closed on my first deal, a three bdrm 1 1/2 bath in a decent area.

My interests and aspirations for my career are to catapult myself into big money deals with profits from our current wave of foreclosures, REO's, etc.

Buy low, rent or sell at a profit!

If you are allowed to sell (assign) your option (it will be in your agreement), you may sell it to a third party for a profit right?

If your buyer is using hard money, and can sell it at the ARV in under six months, that will net them a 10-15% of ARV profit.If you by at 80% of ARV, less repairs, there's very little potential profit for the rehabber.

So, realistic profit potential is around $10K.

Documented profitable projects. 3.

They think the gravy train will never end and after doing deal after deal with great success they grow bigger and bigger and become more leveraged than ever, convincing themselves they will be out with a huge profit before the next crash.

The deal could be wholesaled, but I won't because it usally is in a long term profitable area.

Save up all of your wholesale profits.