Greater Houston is a great place for real estate investments given the deflated prices compared to other US markets & the impressive population growth.Here are a few tips in this market:- lack of zoning makes knowledge of subdivisions(neighborhoods) VERY important; so know your numbers by subdivisions, i.e DOM, avg sales & rental price per sqft etc- market in Houston below $150k is overpopulated right now- too many people & too many transactions- so don't be fooled by recent sales data since they may be inflated; true value of SF investment properties should be driven by cap rates; SF rental market in Houston in north of 10% cap rateLet us know if we can assist on any way- we provide data to help investors find their own off-market deals.

Which is in line with the Cap Rate of 10% if the building was performing.

Your story is familiar and is just more evidence that wholesaling is, in reality, very, very difficult.

You will have an extremely difficult time trying to get any money back from this person.No legal advice.

ALOTIf you are not in Cali anymore and caps have compressed have you thought of selling and doing a 1031 to where you now live??

Cash on cash 80% CaP 28% Something I have not seen put this way.

It can be a great idea for some and not so great for others and without knowing you, personally, it's more difficult to form an opinion.Aside from that, it never hurts to have a little more knowledge of basic business finance :)Anthony

Even if you run the economics only out to 10 years and assuming zero appreciation and 60% expenses, the numbers are pretty eye popping so everybody wanted in.I already had a Texas series LLC for Deal #1 so I simply opened a new series, collected the funds, and closed on the purchase.The loan route is not much more difficult once you find a willing private lender, all you need is a promissory note and a pledge & security agreement.

I am having a difficult time knowing what to do.

I was lucky enough to purchase a multi-family building in a gentrifying area of Brooklyn 8 years ago.I've gotten very lucky and have not had a bad tenant or even a bounced check in 8 years if you could believe that.I currently work a 50 hour a week full time job and have two young kids so it's difficult to devote time to locating good deals in the area.