This is not a new concept, in fact, it ranks very high on most experienced investor's lists of means to build a buyers list.

Eric, sorry I don't have any stories of getting ripped off as a lender.....none....notta, not that some didn't try.Any time someone came in (mostly commercial deals) as if they had just found the best thing since sliced bread and were overly ecited, I get leary quickly, over-selling a deal is just a tip off that I'm not getting the true picture.The concept of dual control of adminstrative functions is a good way to limit issues.

(that is an exaggerated example but you get the point)The other concept here.

You are "released from the contract" for a fee and it's setup using a separate agreement....Ah, as Bill Gulley has stated here before, nothing really new being presented; I have a number of posts here on BP mentioning "conditional release" from a contract - and I will not claim to have invented that concept!

I require 3 times the rent in documented combined household pre-tax income as the norm; I will consider as low as 2.5 times if the present rent is equal to or greater than my asking rent, or if the applicant's credit report shows little to no monthly debt obligations.

Joe : now that I read through your thread I understand the concept better. would this be available for non recourse loan to use in a qualified plan?

This seems like a similar concept in that you need some time/due diligence/patience and need to build a network.

I'm not familiar with the concept of wholesaling but it does seem like a investment stragedy for someone like me who has no income to purchase a property.

Antonio, the concept of wholesaling is simple that doesn't mean it is easy.

My understanding of the concept is to identify a motivated seller with a nice property with a good loan with little to no equity.