Valuable lessons like this will certainly lead to bigger paydays and a prosperous investing career.

I told him I was closing on a deal that week and getting a payday. 

That's my opinion at least after looking at some of the sale prices at the auction...the higher value properties get the margin squeezed too thin by someone willing to rehab it for a $30K payday.

Wholesaling, retail real estate and building/remodels take all of my time (plus some), and the absolute dollar margins on flips here isn't worth the hassle to me for a 6 month wait on a payday given the other choices I have to spend time on.In this market (Ohio), doing $5 million in annual sales gets you top 3% of producing agents and teams

If the deal doesn't work out, they worked for nothing but if it does, they get a nicer payday down the road.

And taking into account lessons learned on this one, you'd probably have a pretty nice payday.

I'd rather wait to find the right deal that is going to make for a nice payday then pick up a bunch of properties that will each make a smaller return. 

I am in a community of awesome folks who believe that "to pay it forward" returns the biggest payday no matter what avenues of REI!  

Inept lender for sure.. freaked out   out of state investor But the end game was the last person who ended up getting it for free sure got a nice pay day..

ONLY buy a property based off:Your criteriaThe ACTUAL numbers’DO NOT RATIONALIZE OUTSIDE OF THIS You do your analysis from home, pay go out when you have a LIVE ONE Form a team for long distance Keep your eye on payday, you only need a few solid deals for this to work Chapter 8: Where to get the money Banks love apartment buildings 3 Types of Lenders:Local, National and Conduit lenders.Go to a local bank, open an account, put your money in it, then schmooze.If you’re from out of state, go to them and do lunch.