Kelvin- my son in law also retired and then went to work in public sector doing same thing for more money!

It's a note secured by the lease.At $600 monthly and 24 months that's a 18.157% interest note.Be sure to charge fair market rents so you are realistic about the returns: If you didn't live there and fair market rent is $1,000 and you charge $600 for 2 years you're essentially giving him something like 78% interest.

Setback requirements, public utility hook-up requirements, or others could kill this deal.

Don't get overly concerned about public liability but you do need to be aware, keep properties in good and safe condition, know the rules and conduct your business with attention to details and you should be fine and carry insurance....And I believe Texas has an LLC that limits liability to a subject property safeguarding other business assets, which is unique, I suggest you simply form your business in Texas.

Pretty simple.It's when you get to the retail level when you need mass media forms to inform the public.

First, i would start off my going to my RE attorney and asking this very question, getting legal questions answered specific to your state.Second, I have yet to see real wholesale deals on craig's list or any other public site. real deals go real fast and don't usually need such epic exposure, so I would question if any of these were deals at all.Lastly, having two middle men often turns a real deal into a no deal for the buyer.

zillow pulls from public records, so there is nothing they could tell you.

I would write Hard Money with a 7 day commitment, if that is what you intend to use (and your HML can commit that fast, mine can).However, you can also use Hard Money and NOT have a financing contingency if you are that confident (you will lose your deposit if you don't get a commitment).I've never had an issue securing a deal with a contingent HML with a quick commitment.

OTH, if someone doesn't pay miuch attention to their business, they operate in a care free manner, are often negligent in other aspects of life, then doing all you can do to hide out might be a good way to go.This public liability razz is way over hiped IMO and insurance is your best solution.Hey, not implying our OP is paranoid, I know he has good reason to be concerned from other posts, but don't take legal advice from a CPA and don't ask your attorney to set up your accounting systems.

A drug conviction can destroy the kid's life, government assistance, housing, tuition, acceptance to colleges, holding any public office, gun permits or possession of a firearm, voting in some states, employment applications and the list goes on.