That’s as bogus as college to me (and I have a doctorate).You need the ability to read, think critically, run basic math, and have logical reasoning all at a high school level in order to get into this game and to stay in.I not only have coached others for free (those friends and family I personally know and won’t ruin my reputation) I have given them my ENTIRE system on a silver platter aka access to my agent, lender, plumber, electrician, flooring company, handyman, and even set them up with my very selective property management company.

How come the legal eagle Feds can’t catch Bernie Madoff and miss a million fake accounts at Wells Fargo when they can set up surveillance on my wife’s cousin who’s taking care of my house for me while i’m in Iraq?

Because of these experiences I’ve decided that I’m ALWAYS going to be present for inspections — or at least for my first couple dozen properties (so I learn more and can get a better team).The silver lining is that even when money is lost, there’s always experience to be gained.

Hi everyone, I was wondering if Silver Spring in Milwaukee is a good area to own rental property.

She arrived with no presentation, no comps, nothing.2nd agent, chatting to much, arrived to estate farm country with pointed silver shoes, and chatting about a near vacation to France...Running solo managing two homes on 5 acres, and you talking up your France vacation and I can take care of you when I return...No thank you.3rd agent, great guy, great Scandinavian last name, savoy dresser, has over 20 rental properties (he says), brought comps, information regarding my property, personal signed guarantee performance letter, and spent time discussing property.Each real estate agent gave me a different comp for my property.

It's so easy to fall trap to thinking that everything will be given to you on a silver platter (I did as a new investor and lost a lot of money).   2 deals = 9 months of vacancy combined and 1 eviction all because of poor property management (add my poor judgment/lack of knowledge)!    

The silver lining for Rehabbers and Buy and Hold investors however, is that, even with the worst Wholesaler, you have the opportunity to "save yourself" by doing your due diligence (which should be a minimum risk management standard in your business).While I agree, Bad Wholesalers are no good for business, I think Bad Business practices pose a greater risk.Ps.

Wholesaler,fee taker,etc. whatever you call it if I am the listing broker for my client and you come with the little to no skin in the game you won't be locking up any of my client's properties.If the client demands it then fine but most of my clients are somewhat sophisticated.What I don't like is that in a wholesale transaction the seller doesn't know the STRENGTH or CAPABILITY of the end buyer with these wholesalers trying to lock something up and then leave unscathed if it falls apart.This reminds me years ago when I did residential short sales.I would get calls from sellers who was contacted by one of these wholesalers or a regular investor.They would take all the sellers financial docs and say they submitted to the bank for approval.I found out papers were never submitted or the package was incomplete.The investors never returned papers to the sellers and the buyers were gone "like a fart in the wind".I had to come in and do damage control to fix things.Another classic is the investor gets the seller to sign a quit claim deed and then disappears and now the seller can't sell if they wanted to.We had a saying when we first got licensed as an agent.The head broker said "you learned just enough to pass the test".Now comes the hard part of learning your skill with a proper mentor so you don't "practice on the public".Then he said "you know just enough to be dangerous"So I feel just like new agents some wholesalers cause massive damage out there.We have our contract where the seller allows assigning into a corporation the buyer owns,assigning to another buyer,or not assigning at all without written permission and review by the seller first.I think wholesalers should pay a very hefty fee if they can't perform.They won't do it again and they will think very hard about the purchase price and not over valuing before putting a property under contract.There are a lot of wannabe buyers out there.A broker saves the seller time weeding them out.Purchase price,terms,deal structure means little to nothing if the buyer has a low chance of performing.I don't have anything against people with no money trying to get a leg up.I wasn't born with a silver spoon and had to start out small.Just be realistic and do not try to do a deal you aren't qualified for or have the means of following through on.Partner with someone more knowledgable who can guide you away from mistakes and help you.To one posters comment about we are all in this for the money.I would DISAGREE that that's the only or sole reason.I enjoy real estate on many levels besides the monetary aspect of it.There are many things I could do for money and I wouldn't last long at them for the simple fact that besides the monetary aspect they do nothing for me.

Hello KarenSorry you are have this troubleUse and demand heavy type K copper pipe and have it silver soldered if its under groundHave them give you a firm price quote before they start no surprise,no working by the hour or time and material ,,,if you do everyones walking on eggshells worried about the outcome,,,,forget about it,,,get a quoteUse a licensed bonded father and son plumbing contractor recomended from a local plumbing supply house [these folks pay their bills on time and are reputable]Ask them to reroute the piping if they can so most of the new work is not under the slabHave them insulate the pipe with black foam jacket before the backfillForget PVC on the irrigation lines its crap, also install all brass sprinkler valves no plastic,,its Crap..Run your irrigation in Type K copperYour father and son plumbing contractor cam make a recomendation on a masonry /concrete contractor Use them and pay them their priceHave them walk the job with you when its done and explain what they did and discuss future maintenence issues  that might arise they will be happy to do itTake lots of smartphone photos  thru the scope of the projectMake them coffee in the morning and lemonade in the late afternoon they will love you and help you get where you want to goHope this helpsDave DoyleLos Angeles

Silver is in hyperinflation as I type this.