There is no substitution for real world experience, but there is also no substitute for a good education.

It really is not a substitute for learning from others here on BP, but I think that gaining the knowledge is worthwhile, and if you combine it with what you learn on BP it can’t hurt.

There is no substitute for taking a trip out and seeing the area in person because while Google Street View gives you some perspective, seeing it in person is sometimes a whole different animal. 

Ah yes, alliteration as a substitute for wit...impressive!

My point to Abdul is that there is no substitute to being able to visit your properties at a moment's notice.

No substitute for experience.

It can be anything really but in this example you gain experience: building something from nothingdealing with rejection - people are gonna say no experience with success - people are gonna say yes, and you get the experience of analyzing why and how to improve your approachHard work - there is never a substitute for thisYou would learn more than that but those are some, additionally, if you wanted to treat it like a real business, then you aggressively work on growing and learn even more, build it into a business:Expand your clientele until you need to hire additional workers to keep up with demandYou will now have to manage others and engage with different personalities in order to make it workAdd additional marketing to grow and on and onSo from the above, you can probably see a massive investment of your time and determination with the pay out of capitol and experience which will directly relate to your end goals as a real estate investor.

This post is about real estate, and why do we buy and sell real estate...............for the money.Why do you think think it is valid to substitute succeed for money?

There is no substitute for professionally done floors and paint.

Similarly, unlike substituting international reports for FICO or using 'Non-Traditional Credit Reports' (NTCR) it's highly unlikely that any bank would consider ATO tax records for a conventional loan, given both that it's another country and the job/business has since been left in order to migrate. c) If possible after one year, refinance to a more generic loan in order to buy a new FHA fourplex using whatever savings have been gained in the preceding months through cash-flow and W-2 income.PROS:*Highest leverage of all paths available;*Largest safety net of cash-in-bank, and;*Increased turnaround for new projects.CONS:*Employment verification, credit history, and IRS records non-existent - multiple positive judgement calls from lender needed;*Delays before scaling allows full-time REI;*Maximum limits to property units and value - 4 units and ~$809,000 for a fourplex (2.v)2.i - List of some Maine lenders, with whether they offer FHA (https://mainehousing.org/progr...)2.ii - Information regarding how to get a no-credit-score mortgage (https://www.lendingtree.com/ho...)2.iii - FHA loan without a credit history (https://www.fha.com/fha_articl...)2.iv - FHA loan requirements + No income minimums (https://time.com/nextadvisor/m...)2.v - FHA loan value limits by unit size for Maine (https://www.lendingtree.com/ho...)3 - A quick start at a moderate scale (DSCR or private) This is my current focus of research as at 25/06/22 and any contributions, suggestions, critiques, or references are worth their weight in gold to me.a) Find ten wholesalers who are focused on or who happen to find Maine multi-families, with a view of analyzing each <16 unit building that gets mailed to me. (2/10)b) Find twenty lenders operating nation wide or in Maine who offer Debt Service Coverage Ratio (DSCR) loans or private money. (3/20)c) Purchase one <16 unit multifamily with whichever available credit type is most appropriate (3.i) - either moving to the address on closing or renting something cheap in-town depending on whether or not the lender allows owner occupation.d) Move to full-time REI, or part time if cash flow does not support growth.e) Exit plan would depend on cash flow, regional trends, and the characteristics of the loan and future financial market and cannot yet be assessed properly.