Originally posted by "Toby_Munk":I have to admit you have some ball.

U can have zero experience and just need a few bucks and a  good credit score and you can buy a home to live in or a rental.. but not development deals.. different ball game

I am grateful we attended the rich dad seminar because it is what got the ball rolling for us for a minimal cost.  

I work primarily with investors and offers that are significantly low (I mean really low ball) come from wholesale investors using the Jerry Norton system.  

Some of your questions require a crystal ball and will keep you out of every investment forever. 

You as the buyer also have rights under fair lending and you should never be forced to use a builders lender. 90% of the time lenders drop the ball and end up not being able to close on time or their overlays cost the buyer the deal and in some cases earnest money.I would walk away from a deal that forces you to put $50K in earnest and use some generic lender who may not even be able to close the deal.

Study appraisal techniques and valuation methods.I like to say you need a crystal ball of sorts, need to look at the history of the note, payments made, see where and why the note was created, understand the borrowers position, look at their ability to pay and find out as much as you can about the borrower, getting in their head so to speak.

I'm spit balling a little, but you have a create a deal to get the outsized returns that STRs offered a few years ago.

He immediately can tell me if it’s a property worth pursuing and can give me a ball point estimate of what the rehab may cost and what the scope of work will be.

If the numbers are close than you are in the ball park.