Those guys are gone and Terry is still around, that should tell you something.Most companies mark up one way or another, whether they buy in bulk and warehouse it or simply charge maintenance fee on top of it.  

While taxes are certainly a consideration when I'm doing a cost/benefit on a potential sale, it wouldn't be my primary driver.Any s/t gain would be considered ordinary income.  

Tom T.,                 Thank you for your advice and providing another perspective.  

We've also referred close to 2 million in listings and subsequent purchases.I'm not sure if there are laws or ethics involved, but at this point I certainly want to start knocking off some fees.Originally posted by Tom T.

I'd encourage ANYONE to use this resource, it's inexhaustible, thanks to all the folks out there who've "been there, done that, and GOT THE T-SHIRT" to prove it!

Then I was told t that the property could not be closed because the foreclosure deed had not been recorded.

Our attorney indicates we don't need any licensing, since our lending is direct....individuals lending directly to individuals we're not doing it as a company,  as a company, we simply find the deals, and we put the two flowers together.

Just like your venture, we had no intention of renovating the house -- at first we boarded it up, and not long after that we simply demolished it. 

They are simply selling their property.  

@Udele Tagoe **Disclosure** I have never done this before, it is simply how I would go about approaching the situation.If you have a title search done that will give you an idea of who exactly filed the lean and when it was filed.