This question has been coming up everywhere I go and most people don't have an answer.

Hope that answered some of your questions.

I hope this has answer the over 30 emails I have gotten asking to find out more informaion.

This book answers every question you just asked and makes you feel like a pro when you're working one of these deals because of how much information they give you.I hope it's as helpful for you as it has been for me!

To answer this question, yes absolutely!

Sorry, I'm slow getting back to you, and to answer your question - I am interested in land anywhere that is growing and can give some return in two-five years.

I missed your post or I would have answered sooner.In the situation you described where you would wholesale a property from a wholesaler, the procedure would depend on if it was before closing or not.If it was before closing and I was double closing, the person I was double closing to could use an assignment of contract to assign the property to someone else (the original contract is not altered).If it was before closing and I was assigning the contract, the person I assigned it to could double close the property to someone else.Now I am avoiding the idea of a double assignment (the person I assigned it to assigns it to someone else) only because I have never done one and have never consulted an attorney or title company to find out if that's possible.

To answer the OP's original questions---it depends...If you used the 50K in the traditional sense (90% Lender 1st + 10% down payment), you could potential qualify for a 500K loan amount.If you used the 50K with seller assistance (75% Lender 1st + 20% Seller 2nd + 5% Down Payment), then you could potentially qualify for a 1KK loan amount.

I'd suggest trying to find a mentor who can help guide you early on.But to more specifically answer your question, I like flipping with the worst house in the best neighborhood.

wow.the answer to your question is it depends on the state.