The wholesale market is wild, unregulated and although I agree that someone who doesn't have a fair business practice would not survive for long, those bad apples effect the rest of the industry.Chris, if I thought that the person who offered me that property is doing something illegal or grossly unethical, I would exposed that person on this site.

Hello RE friends,In an effort to move beyond theory (e.g. reading, speculating, postulating) and into practice there was a need to invest in a commodity.

It turns out that reporting TO THE AGENCIES is not practical.

The last two are practically non-existent in our area of Southern California.I have a few wholesalers out there looking for me, but none have brought me anything.

Then go to as many REO properties as you can and practice your skill set.Here is some more info that should help you:Break up the home into sections - Kitchen, baths, flooring, paint, stucco, landscaping, plumbing (including fixtures), electrical (including fixtures), HVAC, interior doors, door casings/baseboards, windows/sliders/front door, roof, foundation, misc., and garage.Once you know what the common costs are for each area for a specific size home, you can see how easy it will become to walk in and walk out 15 minutes later with a rehab figure in your head.For instance, I know that a full gut and remodel including new toilet, new vanity, mirror, sink, glass door enclosure, stone/tile on shower walls, etc will run me $2500 per bathroom.

There is no reason what so ever that a standard real estate contract with addendums that are normally used in the state could not be used.A seller who may receive back up contracts, say through a brokerage and MLS may be set by local custom, that a seller can, and with such contracts money is given and held in escow with the broker initially or sent to the closing escrow, but money has been deposited for the contract.I have given earnest money notes as consideration for contracts, use to be my usual practice.

I know each lender might have different policies surrounding this, I just want to get an idea of what is the normal practice.

That concerns the EPA requirements for RRP certified people to perform certain renovation work, to be following "lead safe" practices.

I think the lender's perspective is, "Really, you expect me to believe you found this magical deal, it needed practically no work and now it's worth a ton more."

of creativity, practicality and sensible billing.