If your current equity and cash position is not there to make the downpayment on a big deal - how do you intend to make the expected and unexpected payments that come along with owning a big deal?

The unexpected, Always expect it.

Hi I noticed the posts on Saginaw and thought I would chime in.Michigan does have a very slow growth in terms of appriciation -- however there are cash flow deals available.I am working with some others right now and we are building a great team in this area that has the components needed to manage property from afar and collect great cash flow.You can see some of the properties that we have come across lately at:http://buyundervalue.com

Don't assume that your local retail home improvement store is the place to go for all of your needs- remember, every dollar spent in excess is a dollar lost.Make sure that your figures work out, and give yourself some financial room for the unexpected expenses that almost always come up when dealing with rehabs.Establish a good business relationship with wholesalers in your area.

We can provide content rich material to help boost the 1031 exchange educational component.

What happens if you have unexpected expenses and have to borrow, short term-high interest rate, because that money is tied up?

The main component in any wholesale flip is price.

You will also need to analyze such things as the demographics of the area, the building's major components, to see what major systems may be beyond it's useful life, like the water heaters, etc..There's just so much to analyze that I would need to see the actual deal to say if I would personally buy it.

I have and will continue to do my due diligence on prospective properties to make sure there is a profit even if the unexpected (which I'm sure will happen) comes around.

Don't forget to factor unexpected repair costs, closing/financing costs when buying, closing costs when selling, PITI (Principal, Interest, Taxes, and Insurance) payments while you are fixing up and selling, and realtor and/or advertizing fees to sell it.And now I'll give you by far the NUMBER 1 newbie mistake in real estate investing. . .. . . buying a property too high and TRYING to sell for even higher.So, Alex, to summarize my input:Experience tops book knowledge.