How do you know if the electrical was done correctly?

What these $20 - 40k “mentorship’s” sell is a SHORTCUT, but it does NOT work because the PRIMARY real estate education and knowledge MUST be there in order to be able to implement and strategy or tactic correctly, at the correct time, and under the correct conditions.  

Let me clarify:You’re correct that there are some parallels.

They could only loan 60% ARV (if I remember the % correctly).

I had no money to put down on any properties, so I learned (a lot) and put in a lot of hard work and effort to get some properties under contract.Initially, I had no clue what I was doing, but I had the help of some people (and I appreciated that)I made mistakes that cost me around $30k (lost a deal due to my ignorance regarding title and escrow)The good news with wholesaling is that it doesn't take a lot of capital upfront, and you can start talking to sellers and learn about the industry in general.The other good news is that you can without a doubt generate revenue quickly if you do things correctly (having a good TC / title / escrow connection that keeps deals moving on the backend)That said, there are a few points that I've come to live by:1.

Developing that trust with someone you don't know may seem like a challenge, but if you approach it correctly, you should be able to achieve a pretty solid foundation of trust.The best way is to talk to others who have had an experience investing with the sponsor already.

If I understand correctly you have a Solo 401(k) and are being told you need to find a new Third Party Administrator/Recordkeeper.

Yes, it can be done and it can be done correctly.

If it’s in an LLCs name it s protected if maintained correctly.  

@Gregory Mcgraw Yes, correct.