When I want a car I buy it from my brother who has owned his used car business for decades.I can get him to buy cheap at the auctions for cash.I also look on EBAY for desperate sellers who need to sell cheap.I wait until the auction expires and offer them a much lower bid with cash.A friend of mine picked up a BMW this way that had a market of 12k and the seller was asking 10k for 5,500.I look at the dealer prices and laugh.They are a total rip off and it makes me sick to think someone buys new or almost new and right off the bat starts losing value and having a negative investment for years.The dealers like to make the outside look good on used cars and sell you crap.I can get a new paint job and a brand new interior for a few k at most.What I care about is the engine,tranny,axels,etc.

I learned a lot from this guy too he was a road warrior making all of America his back yard buying rehab apt complexes from the east coast to the plain states building a portfolio for a man that owned a factory that knew he only had a 5 year income expectancy left from his factory and was desperate to replace the income.

From personal experience, this is a great way to turn a little desperation on the front end into a lot of desperation, and cost, on the back end.

Maybe that works for a desperate or very naive seller, but I have my doubts.

Many people in the class appeared to be desperate to get out of their financial troubles. 

@Christina Phillips you can write the basics of how deals work and things to appeal to desperate home owners, gives them help and they may in turn give you business.

hello BP first off i want to introduce myself. my name is rito altamirano I'm 23 from las vegas and i decided this is what i want to do with my life i just don't know where to start or who to turn to!! I've always wan...

Your not looking to work with contractors, you highlighted at the beginning you hire unlicensed persons, those are NOT contractors than, they are subs and you are trying to side step what you should be doing because thats probably where most or all your profit lies, not in the deal of the property but in finagling to get done what should be say 50K done for 30K by side stepping regulations and hiring overqualified desperate persons. 

LOL... who is going to do that.if its the US  that's what the bankruptcy laws are for.Jay, depends on who the lenders are ;-)Agree that posting here was not the best move, but it is out of desperation and the chances of "traditional lenders" seeings this is slim.It's the wild wild west so it's hard to predict how this might end.

Other unit previously complained in summer so I started process of upgrading electrical for split (I use slowest electrician on earth because he is family and desperately needs money).