It may not be a bad idea to wholesale multi-family homes in the 2-10 unit range as this niche is not yet widely covered by others.

For the most part Louisiana is much the same as other places I've visited (with the exception of New Orleans) just more water and humidity.

water is the enemy.

Be careful as the price range of house you are looking for...believe it or not, thanks to Dodd-Frank, you will have more success getting a loan in the amount of $90,000 than a loan at $40,000.

i bought one house (forgot how long ago) that had an old, old carpet.. the walk areas of the carpet were so thin, that you could feel the hardwood underneath. when we went to take out the carpet and pad, the pad had deteriorated so much, that 90% of was turned into dust, the rest of it (10%) was glued to the hardwood underneath. it took us about a day with vinegar, water, and numerous different scrapers to try to peel the pieces and residue off. hosing down the floor would be a nice option. like a prison cell.

Williamsburg rents $775. leased 12/1/20123. separate utilities4. utilities paid by tenant5. unsure (I asked how old the roof was)6. both have been partially or totally replaced in the last year (HVAC system)7. hot water heater dishwasher (new replacements)8. none known (serious issues)9.

Price - 18500Total Taxes annual- 1852Insurance annual - 525 Renter pays electric, water and gas Deal 2 I am in talks to buy a 5 family home owner financed for 61k.

The closer to average you are the longer your house sitsthe closer to average in price the longer your house sitsthe closer to average in terms of amenities the longer your house sits.You will no doubt rent your place if it is clean and tidy and not more expensive than the restI have found that testing the waters in order to find that perfect balance between interest and rent price is worth the investment in time.If you get too many calls on the first day you are probably renting too lowif you get no calls all week you are too highfind your sweet spot

True investors never ever stop.I'm 22 and my eyes just opened up to the world of REI about a month ago and since then read as many books as I could get access to ranging from thinking like an investor, real estate, land-lording, accounting, law, taxes, marketing, negotiating... coming across BP was just the icing on the cake and overwhelmed me of the wealth of information that was on here to add to my arsenal.

In other words, even if a wholesale deal in my area even within the 65%ARV less rehab costs criteria, I would not have enough money to acquire and do the work using only the credit line.My question is 2 fold:1) Can I use the business line of credit as a down payment, then get a conventional mortgage like a 203K FHA to purchase and rehab the property. 2) Can I refi out to pay the loan if there is enough equity built into the property when the rehab is done.Not really sure whats an effective way to use this line of credit, if all the wholesale properties in my areas are priced in the 150k range.