Too many newbies seem to think they can blindly follow "old" advice in today's real estate market and be successful.Many, basically get taken advantage of by those in the industry that have an incentive to keep newbies blind to new realties, just to keep their good times rolling.What many newbies have figured out is that they can't make the numbers work on rental purchases in their states - like California, Arizona, New York, New Jersey, Washington, etc.What they have NOT figured out is that if they go to cheaper markets, they aren't being shown Class A rentals to buy.

Case Study: A Successful Joint Venture in Real Estate - An investor identifies a distressed property with high potential but lacks the funds to purchase and renovate it. - The investor partners with a private lender who provides the capital.

@Fulati PaerhatiRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Purchase price: $275,000 Cash invested: $294,000 Sale price: $355,000 The property is a 2 bed 2 bath with a den and a 1 car garage.

Purchase price: $271,000 Cash invested: $30,000 Duplex with 1 bed, 1 bath in each unit + 3 car garage in a great neighborhood.

You can potentially purchase multiple properties, which is a huge plus for spreading out risk.

I believe that many will be able to purchase a townhome or condo, but not that dream home close to the city. 

LTR could get $3200-3400.3-just purchased in August a townhouse in Costa Mesa California 3 miles from the beach walking distance from the back bay great location.

It's a new resource from BiggerPockets that helps you find reliable property management partnerships and gives you everything you need to make confident hiring decisions:-Expert Matching: Match with professionals who meet your criteria-Extra Assurance: See licenses, experience, ratings, reviews, and more that can be cross-checked with BiggerPockets members-Bonus Content: Plus they'll send you an interactive workbook: “How to Interview Property Management Companies”Hope this helps!

I’m looking for some advice on a fix/flip property that I purchased with two friends almost two years ago.