I have recently completed my first deals, largely thanks to my mentor/partner and Master Bulk REO Aquisition Specialist.

We put money in the bank each month, but then end up using large chunks on rehabbing our own home.

You can more easily stay in touch or be able to reach out to large numbers of people.Build up your contacts.

If you do pay down the loan each month the equity is largely trapped so not easy to access if you really need it.John Corey

In my market in Mid-Michigan the actual number of sales are up about 10% from last year at this same time but the average sales price is down about 10%, mainly stemming from a large number of the sales being from reo properties. selling way below the market average.

Plan for them or have a large enough cushion so you can ride them out.

I worked several years in a large urban market prior to returning to my hometown market.Do you think this would be a good idea?

Insurance does cover the cost of our service plus any replacement of carpet, paint, etc. but I agreee it probably is not worth putting a claim on your insurnace for something like this unless it is a large scene.

The Fannie Mae comment is largely accurate.

It seems to me that, at its most fundamental level, the two keys to wholesaling are (1) establishing a large network of investors to contact, and (2) effective marketing to find the deals.