my friend doesn't have any money either, its just that he is willing to take the risk & the big reward on the rehabing side of the dealme i don't want to take the risk on the rehab side of it (especially on this property), i just want to get the property under contract to flip it to him for say 5-to-10 thousandnow the property i believe is'nt owned by a bank, its owned by some corporation which i'm having a hard time finding info on them and how they come to own this particular property, and why their willing to sell this property this cheap and etc (actually after some more digging i think the company is a lawyers office or something, because that is whats coming up as the owners of this property, so i don't know if it really is a bank behind this deal but their using this law firm to dispose of it for them or what)now i couldn't find the name of this corporation, but the address i got off the tax assessors record, i researched it and the building is nothing but a bunch of law firms and etcits just that all the stuff i've read on wholesaling nothing really stated anything about having to come up with that much money just to get a contract on a property and etc. i know what earnest money is but most of the stories i here is people using between 10-100 dollars or so just to tie a property up..............now is mine higher because of the real estate agents lack of trust or something

Do the laws in your state allow for a deficiency judgement?

Unfortunately we're not allowed to videotape it, copyright laws you know.

To add to the IRS comments:Check your state's laws on redemption because in some states, once the house is sold at the auction, there is NO redemption period.Also, the IRS legally has 120 days to sieze the property and pay what the house sold at the auction for PLUS 4%.No one is allowed to sell the property for 120 days after the auction.If there is an IRS lien and someone still buys the property, once 120 days has passed, the IRS removes the lien from the property.

Here are a few suggestions…***Tip alert***Let’s say that you have $2000 at your disposal and you have either online access or there is a Bank of American and a CB&T banks in your town.

My question is why isn't any professionals firms and law firms get involve on faciliating the mulit-millions and billions dollars with the large capital investors and banks senior officers or their legal department?

It is not uncommon for PM companies to utilize "interns" and this is a great way to learn about operations, applicable laws, marketing, and, if there are active investment property sales agents in the organization, you can learn the mechanics of the Deals as well.

FCL laws vary by state.

If the house was owned by someone else and she was renting or had a live estate then the state can not make a claim (more or less - check the state laws).There is also possible tax issues.

Americans can only spend money they don't have for so long.