we do notes as well. for non performing loans we say $800M in loans last quarter, we bid on approx. $50M of them and our hit rate (what we close on), is typically around 10%.

I think that a concern of mines is what happens in the event of a performing note going non-performing. 

If I were the seller I’d return your deposit on two grounds: first, you breached the purchase agreement by not performing, and; second you seem like a flake. 

Unless you have a vast network/sphere of influence to keep you afloat, making money being an agent can be really tough and you can literally go months without a paycheck.If you want to be licensed and learn it while you have a W2 job that's different.  

If they try and back out and the closing date in the contract passes and they haven't performed, the title company has now satisfied their requirements to release that earnest money.

They want someone with eyes and ears onsite for you because you being that far away how do you know the work is being correctly performed?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Hi there, I'm curious if anyone knows of lenders that would let me perform a cashout refi without a seasoning period for me to be on title for 6 months. 

New investors tend to stress out for years about their first deal or two, and then when it comes to the most important peice of the puzzle regarding how their property will perform and how passive their experience will be, they get lazy and don't develop a process for screening. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!