@Jason Eyerly - here's a blog post I wrote about how to stand out as a wholesaler - hope it's helpful to you: http://www.biggerpockets.com/blogs/4430/blog_posts/32194-attention-wholesalers-2-ways-to-stand-out-from-your-competition

I'll try to keep this brief and to the point.i received a call from (what I thought was) a home owner (out of state) of several properties that he was looking to sell.

I read an article recently that quoted Mark Cuban regarding the best investment advice he ever received and he said "Freedom from debt is worth more than any amount you can earn."

I have many tools I know I can use, whether passive or active advertising, but I am looking for maybe which specific is most effective and how to approach a seller after I have their attention.

We would like to ensure that you have a clear understanding of our rental process up front.We will conduct a credit and background check and contact references as part of the application process.It is important to provide a clear and complete application to make this process as smooth as possible.Please ensure you will meet the following qualification requirements before applying as there is a non-refundable application fee:Stable, verifiable gross income of at least 3 times the monthly rentFavorable credit history - no judgments to prior landlordsPositive references from previous 3 landlordsNo eviction historyClean criminal background check – no feloniesAll applications must be accompanied by a non-refundable application fee of $25 for the first adult and $15 for each additional resident over 18 years of age.This fee covers the cost of the credit and background checks.Again, we encourage you to apply only if you are confident in meeting the qualification requirements.Applications will be processed in the order received, and the fee will only be charged upon processing.If the apartment is rented prior to your application being processed, we will return your application fee.We use TransUnion SmartMove for our screening process.Upon receipt of a completed application with fee, we will send an invitation for you via e-mail to complete the application with SmartMove directly – there will be no additional cost for this beyond the application fee.This process helps protect the integrity of your personal information.

for example:Property Value: $100kSeller Mortgage: $100Kyou obtain the property on a subject2, you then turn around and sell with a wrap with the following:Sale Price: $110K (premium due to owner financing)Down Payment: $20KYou then carry a note for $90K that the buyer must pay offYou then apply $10k of the down payment to the wrapped lender, bringing the wrapped mortgage balance down to $90K, the same amount as the note you are carrying.In addtion to all that, the terms on the new note are created to give you a spread between the wrapped PITI & the buyers PITI (assuming that taxes & insurance are escrowed in).So, after the closing you have created (and extracted) $10K (minus any closing costs) in equity from the deal, and you also are now receiving monthly cash flow via your note and you have no property upkeep.DISCLAIMER: I have never done one of these, this is all academic.

Guaranteed it was the first offer received.

technically the bank owns it at that point...or do you grab them during pre-foreclosure...like before papers have been servedThanks just curious

@Justin EscajedaIf you need a Real Estate Attorney in Pittsburgh, here is a link to his site:Attorney who is a Real Estate Investor, etc.I am not Affiliated with, and do NOT receive any compensation for this recommendation.Raymond

Which is a real benefit not only in knowing that the information you are receiving is accurate, but she can also answer questions that are more "grey area" then other instructors.