The end buyer's money is used to fund both transactions.Another approach is to create a company, have the company buy the property, then have the end buyer buy the company.There are also some lenders around who'll do a loan for a day or two to let you buy it then resell it.Have to have a cash or hard money buyer because a conventional lender won't fund a deal like this.Need to figure out what its really worth.

Hey Jason, thanks for taking time out of your busy schedule to give me some knowledgeable advice about this topic.all I need now is to know how to keep my attorney fee's down when creating these contracts lol, which I would like for my lawyer to draft so that way i'm well protected at an advantage (my lawyer charges $320 an hour, thats why I'm concerned about this issue).

IE: If we have a mortgage for 130K at 7.5% for 30 years the monthly payment is $908.98.Potential buyer purchases house from us for $154K at 8% with a monthly payment being $1130.00This creates $221.02 monthly cash flow, the house is occupied and the house acts as collateral if they don't pay.

Agree, starting with your state Realtor's contract is an option, and lots cheaper than having an attorney create one.

Do you create websites that are catchy or do you build a name and a brand that can roll with the times?

It's funny how we apply this rule to direct mail and forget it when creating the image of our business.

Ironically, it is the buyers and sellers themselves--not the property or it's price-- that cause complications that create many sleepless nights for agents.

I have enjoyed visiting this forum and find it to be one of the best on the internet.I'm new to REI and have a very ambitious short term goal of creating a minimum of $7,500/month income from real estate so I can quit my full time job and do this full time.It appears from my research that the most viable area for me to focus on is Wholesaling in that I want fast results without using much of my own money or credit.I respect the suggestions of the more experienced investors on this forum because I believe experience is the best teacher although it can be painful and expensive.So I'm excited to be here and look forward to some great times.Much Success!

Go to a few and see which ones you feel better with, get a better vibe to, etc.There are many "bibles" of wholesaling, but not all are created equal, nor will all of them fit your strengths.

Did you spend the money on legal costs of creating the partnership before or after you secured financing?