I wouldn't touch real estate in California with a ten foot pole - crazy "global warming" regulations coming to destroy vast numbers of jobs, out of control and broke governments, and numerous greedy types wanting higher taxes and bizarre new regulations.

Honestly, though I think trying to extract $20K out of a $112K wholesale deal is being greedy.

I'd like to get at least 12% - but I don't know if I'm being greedy or just realistic.Knowing the character of the dad I don't sense a great deal of risk (and yes, anyone and any deal will present risk), and given the contract is with a large retail establishment I don't have any indication that it would be a bad deal.  

Stupid greedy people don't listen!

I was just wondering if people are willing to share their level or education or what kind of full time job (if not real estate) that they have and their level of success with real estate. of course if you make a lot more money, its easily to play with properties, but I want to hear about the 30 year old plumbers who own and manage 30 properties on the side, etc.Personally I just graduated Washington University in St.Louis with a dual major in finance and accounting and now I'm working at wells fargo as a trader.

Most PM's get greedy here and over charge.

Well I know when I have a partner (that I trust - which should not be minimized) I am comfortable that he is going to perform her/his task best and I can focus on mine - which is not babysitting contractors.Hope this helps and if you find a good partner I really recommend staying with them as long as possible, and not to get greedy.

Also be wary of greedy guru's and the like looking to exploit your lack of knowledge for financial gain.Anything a guru will "teach" you can learn either on BP or by networking with other local investors who will help guide you in the direction you're looking to go.Find an investor that's doing things how you'd like to and pick their brain.

Those who don't factor in capital expenditures and may be content with just having their mortgage paid for because they were greedy and bought at a high price back in 06 or 07.

My takeaway was that they were trying to be greedy with me and wanted to bump me up a bit more and they lost the deal because of it.