I have a few places on ownersdirect but it is more holiday rentals they advertise, very good though.

They advertise that some homes start at $500 but all the auctions were started by the auctioneers saying "$500-I've got $5000, do I hear $10000

Okay so I have the basic wholesaling steps down.1.Find a Property2.Put it under contract using a PSA3.Get it inspected4.Get rehab estimate5.Calculate the gross income (rent)6.Calculate the PITI7.Get the estimated ARV8.Advertise to buyers list9.

I think he was asking if it is unethical to advertise something he doesn't have then tell them that he has another investor lined up.

I am not very familiar with advertising mediums that would help me do that.

That said, out of state people fall prey to the "large" cash flow advertised on these types of properties.

I even went so far as to have them sign a short form stating that it was ok for me to advertise their properties.Then I advertised the properties online, using rags, and bandit signs.

People advertise these 'deals' using bogus numbers because they're trying to get ignorant newbies to buy them.Here's how this 'deal' would look in the REAL WORLD:Gross Rents: $2,550 per monthOperating Expenses: $1,275NOI: $1,275Debt ($340K, 30 yr, 7% NOO): $2,260Cash flow: $985 LOSS PER MONTH!

If you don't already have a buyer in place, advertise, advertise, advertise, and talk about it to everyone to spread the word.

I had a friend email me that it's fake, and I quickly checked it: OF COURSE... it's just a clever advertisement (for a bluetooth headset)!