See my comments on a similar thread I just opened, regarding how to prepare for a heloc https://www.biggerpockets.com/forums/311/topics/1202305-helo... 

Start small and work your way up.Be prepared to put down 30/40% of the purchase price right now to have them break even and/or cash flow a bit. 

Your mindset and preparation are off.

Honestly, I just was not prepared to ingest 127 pieces of content just to send texts lol (Kinda overkill in my opinion).

@Anastasia MonroTo achieve financial independence in real estate, focus on boosting savings, improving credit, getting pre-approved for a mortgage, searching for properties with high rental demand, researching local laws and regulations, building a team, staying educated, preparing for property maintenance and management, and being patient and persistent.

In the meantime we are building our resources to be ready for the next market reset (if it comes) so we are prepared to go on another buying spree if sensible opportunities present themselves.

To get started, educate yourself on real estate investing, join local investment groups, analyze the market, prepare financially, find suitable properties, and analyze the deal.

We found out about the fake mortgage when reviewing title work in preparation of closing with an end buyer.

It sounds cheesy, but the best way to prepare is to work with a friend or two and role-play.

Effective risk management ensures the sponsor is prepared to handle challenges and uncertainties.Practical ImplicationsEffective sponsor underwriting can significantly mitigate risks and enhance the likelihood of project success.