Eliminate debt, establish a budget, and save.

Im a newly licensed real estate agent in San Diego looking to connect with local agents, investors and wholesaler in the area.

To protect yourself, I would establish 2 separate agreements one for the construction contract with the lender and another profit-sharing agreement with the lot owner.

The key is establishing strong systems and processes.As mentioned earlier (KISS—Keep It Simple, Stupid), there's no need to overcomplicate things.

I always got the impression that he had a bad criminal record or never got his high school diploma/ GED equivalent or some other issue was preventing him from getting a license, because he was basically just brokering without a license but calling it consulting (I don't know any of that to be true for the record, that was just the impression that I got from his comments and might explain why he used a fake name?). 

Thanks for any help’ Yes we're licensed there and FHA guides in one state apply to all states unless a state has a specific law that supercedes the FHA lending guideline.FHA is always 3.5% down minimum (in some cases less because you're using a DPA or down payment assistance program or 2nd lender to put down over all a lower down payment than 3.5%, Aka for instance 3.5% DPA + 96.5% FHA = 100% financing but just dont kid yourself this is fully 100% leverage and to be used with caution and carefully).In the case of 2-4 unit FHA is still 3.5% down payment @Matthew Kwan @Carlos ValenciaThere are rules regarding FHA such as:- primary residence - you must occupy one of the 2-4 unit property as your primary over 50% of the year and the underwriter needs to believe you will remain and have the ability to live in there, any deviation from this and you'll get a whole laundry list of conditions asking you to prove why you should be believed to be living or will live there (if this arises dont be surprised, it just means the UW doesnt believe you).- SS rule - self sufficiency rule - gross rents of all potential units 2-4  X gross rents at 75% needs to meet 1:1 or 100% of the monthly PITIA payment or greater.

Having a real estate license is NOT required to be a successful real estate investor.IMO, it can help though!

To clarify my assumption about current equity: most transactional activity in the area has been new construction and established neighborhoods of "better" quality.

Always, always use a licensed home inspector and not a handyman.

My objective is to establish my network in the region prior to my arrival.