Do you have updated windows to block it out?

steve,i talked to our agent and she said that $995 (the previous price) was a great price for the area. she said it's clean, nice, super maintained, updated, etc. she said nothing negative although i asked.her feedback was "there's a tenant for every house, and you have not found yours yet".i think the competition this year is fierce since more people like me purchased houses low and are renting them out. i am fine with that....but my house is the lowest price in the suburb. the agent asked for 1 month's rent to list it and she said she can rent it. i already "lost" 2 months rent. if it's true and she can do it, i should have gone with her...

Bill too many factors would weigh into this.You are looking at hard money with very high carrying costs at 60% occupancy as a regular lender won't touch it.Too easy to go from 60% to 40% or lower and the new lender has a fresh foreclosure on their hands.Unless you pay cash you will need a HML or private money and will have to pay low to get it to cash flow until you can refi into a lower debt service once stabilized.Is this a local,regional,or national bank??

I am certainly not down on wholesaling, and it is certainly not dead in this market, in fact, if you know how to lock up great deals, it can be a great source of income for you.I work in higher price point market areas (southern CA) and as such, my standard wholesale fee on a regular deal is around $10k, and I have made as much as $40k on deals in the past, it all depends on what the market will bear and how good of a spread you locked up in the first place.

It seems that is what makes it more difficult for a wholesaler to make deals they can close regularly.

I wanted to give you guys an update.

You list for sale at say $110k, then when you sell, the end buyer is paying $110k, just like any "regular" transaction, and 70k, goes to the family (less the option fee you already paid) and the rest goes to you, as the option holder.

Lenders have more to worry about in Las Vegas than "due-on-sale clause violations".As long as this loan remains "current & performing";...you have a better chance of "hitting the jackpot" at Caesars Palace, than having the lender accelerate an otherwise performing loan in good standing for a violation in the "due-on-sale clause".Spending a few hundred dollars with a good attorney that specializes in these types of land contracts should be worth the money. (...try finding these types of lawyers who are affiliated with your local Las Vegas Real Estate Investment Club).A lawyer of this type can create a new, or review and update your trust/sales-agreement, land contract, etc.Here's a different twist:How about a back-up agreement and a back-up deed?

Comps in the area are running between 30k-40k which I will bring with me, along with my mentor.Still have a long way to go, but I actually stepped out the car and knocked, so will keep you updated, as I think there is potential.This is outside my comfort zone and expertise, but I cannot wait to learn more!

One thing I have learnt over the years, is that at the start of a new lease it is a good idea to have them update their personal information.