The other thing that the Agent doesn’t tell you is what your chance of getting the property is - This is like Gambling - it’s like rolling the dice that you will get the home you are applying for.

I'm THRILLED that I got hooked up with a lender that is financing 75% of the total cost (acquisition + rehab) at 5.25%, and 1 point.

Thrilled with the move!

They are gambling that FHA will never check in that first year or they have the ability to refi out of it if they do. 

The old adage on BP is don't buy for appreciation that's not investing but gambling, however if you invest get good cash flow and get good appreciation its a home run. 

They even look forward to experiencing the thrill of meeting them head-on.Real estate investors can prepare them­selves for treacherous times just like surfers.

As a wholesaler, you want to purchase the property (or get it under contract) and either assign the contract or sell the property to a 'rehabber' or retail buyer who finds the adventure of rehabbing their entry level home thrilling. 

He isn't thrilled with tying up 5 houses but like they say beggars can't be choosers.Do you know how much emphasis they place on condition?

This was a lower-income area so the people were thrilled to at least have a washer/dryer even though it was in the bathroom closet.  

The only part I wasn't thrilled with was the balloon, but I guess I have nine years before I have to worry about that.