I plan on going to an upcoming auction but don't have much capital, really going just for the experience.

I’m very limited in capital and options, but that is only due to my ignorance.

She has not lived in the home for 2 out of the past 5 years, so capital gains would be an issue if we wanted to sell it without a 1031 exchange. 

The reason I'm not planning to buy it outright is that I don't have enough free capital to do so, which is why I'm trying to figure out a different option.

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If it’s zero, or close to zero, your best bet may be a “master lease “ for 2 years; if your successful and can show 2 years of tax returns, you may have a shot at attracting a equity investor to provide the equity capital needed for a loan.

That doesnt mean the experience cant be good, like I said, I did it for 10 years before becoming a full time agent.To be a successful agent however takes hard work, it takes capital, and it takes time. 87% of people who make a go at the business fail entirely. 

Live in flips take longer, because you want to live there for at least 2 years to avoid capital gains taxes.

Today I want to talk about a great lesson that I learned as I had more experience under my belt.It is the power of not having a wholesale every property that comes through my funnel.When I got started in this business, I only had one exit strategy...Assigning.I love this assignment strategy and I still do this a ton today.However, after accumulating some experience and capital, I can now say that having more than one tool in the toolbox is extremely beneficial especially in competitive situations.Here are three tips on why it makes sense to not wholesale every property.Tip #1 YOU CAN MAKE MORE MONEYMost of the time, you are going to make more money if you close on the property.

We started with the upper unit, once that was done we rented that unit, and used their rent as capital to help finance the lower/larger unit.