Hey guys, My wife and I are under contract on a condo in Kihei that is vacation rental approved.

Quote from @Corey Gelineau: The inspection contingency is used to legally back out of a contract due to the property being in an unacceptable condition upon inspecting the property.

This happening in 05 to 08 and there were builders with 50 to 200 specs and they lost them all I bid on a 100 home package in 08 the houses were selling for 225k to 250k in 06 ish and we were in contract for 120k each..

We have our first duplex in contract now but the dream would be for my partner and I to leave our W-2 too!

@Mitch Holmes With $400K-$500K in cash and your contracting experience, start with smaller flips in the $300K-$400K range to minimize risk and build experience.

Even wholesaling or flipping requires contracts, and you're not old enough to sign.There are a lot of young people looking to start, and it would be nice to hear more of your story and how they could follow your process.

(I also suggest an in person visit to meet folks and get to know the areas, not to see a particular property but to build relationships.)Once you are active in a market you will start to connect with investors who may be selling, wholesalers who have assignable contracts, and your realtor may also have access to off market opportunities. 

Hard money is not cash and should NEVER be written on a contract as cash.

At various times during the past 25 years he “specialized” in oil and gas drilling, franchise sales, surgical center investments, office centers, start up incubators, vitamins, mobile washing equipment, cemetery syndications, residential mortgage brokerage, commercial mortgage brokerage, insurance as an investment, long term care insurance, and property development in Mexico.  

I am a Project Manager/General Contractor and would love to help you with my contracting resources.