I use bigger pockets to analyze my flip deals.

You guys will need to discuss whether you pay the out of pocket/closing costs or he does and it gets rolled into the seller note.

I actually got caught up in the creative finance bubble of trying to lock up properties way over their value just because it had creative terms not realizing that if you were to buy a property at 120% of its value you will never be able to refi or sell without paying out of pocket.

Buyer rents it to a dead beat, pockets the cash, doesn't pay the mortgage and boom the foreclosure goes on your name.

Either way, after five years, I can say I achieved a certain level of passive income—just not the kind that puts cash in my pocket. 

@Monica James Welcome to Bigger Pockets. 

I have been listening to the Bigger Pockets podcast for years ever since I was in High school I have read a few of the classic real estate books.

From my experience working with over 400 investors, financing your first deal with minimal out-of-pocket expenses is entirely possible, you just need the right strategy.

Been listening to bigger pockets for about a month now (literally everyday, at every moment I have spare time LoL) and am learning a lot.

California has it's pockets of high crime areas, but San Diego is not one of them.