Split premiums are rarely done in practice but in theory its nice to talk about them as it makes the borrower feel like they have choice but I've never had any borrower pick the split premium option when given all of the choices in the last 7 years I've been in the lending biz.

Budgeted $40k with my contractor but $50k in my financial analysis, so yeah, we should be able to cover this one...everything you read says you will make mistakes, no matter how much practice and prep and mentorship.

Anything meaningful that is going to eat you alive in capital costs into the future and take away practically all cash flow the turnkey seller on low end properties hardly ever touches.

I have watched many cold calling videos on YouTube and I even practiced the scripts but I feel so unprepared.

My lawyer and Friend Jon Batastini is located in Ocean City and deals with these issues in his law practice.  

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

You can learn best practices from other BP members about what to do when you become the owner of a multiplex with existing tenants.Also, locate your local landlord association and learn from the locals too.

I have come across a reading that says"No such broker shall engage in an independent brokerage practice without first having served actively as a real estate broker for at least two years."

I want to stick to the 2X deposit, but wasn't sure if many have had success with that in lower income areas... like many things, sounds like there's diversity in practice.