If you go the rental route, I recommend asking any property manager for 5 - 10 past or present clients.

The other route is to file a small claims court case to collect what he owes after all is said an done.

Unless you're going to do some type of turn-key sales, then you may be able to do a "flip" by going that route.

I was considering going that route if I am to target ex-pats and corporations.

If I choose to enter the real estate bsuiness as a wholesalor I don't intend on doing so without being properly prepared to be successful, and this conversation has really helped me sort out in my mind the things that I still should look into if I am going to go the wholesaler route.

If you "sell" him on the house you now have to act quickly.You have a choice to "partner up" with any investor who will gladly give you the money (or purchase it themselves giving you a "finders fee") or you can contact an HML or PML and obtain a loan from them for the short period of time that it will take for you to get your buyer into the home.A finders fee for putting the investor and buyer together gives you a smaller amount and you will have to do many deals to get to the point where you can do one on your own without the investors assistance.Going the HML route is more risky because if the buyer backs out you will end up with the property and the payments to make.

From what I understand the response rate is much higher with the yellow letter than postcards.Great deals can be found this way especially unlisted properties where the owners live out of state...some owners may be heirs but the down side is that there may be liens and most likely will not have a clean title...This is why I like REO's So if you go this route I suggest you have a real estate attourney on your team to help you close these deals, it makes life so much easier when messy titles are involved.

It's the route I'd go if I were doing this buy-seller finance-rent-sell by assumption type deal.In fact, I might put that together and run it by the CFPB to see what they say!

So if you decide to go the realtor route, you have to have something to offer them in exchange for the service they provide for you.

(If you write one).The Summary should establish, early on, whether the financiers are interested in this deal.Items to include:Your plan/projectYour marketAny unique attributes to your projectWhy your product will beat the competitionYour related experience that applies to this ventureFinancial highlights and any previous achievements relatedFunding requiredExit route for financiers