I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

BUT The points they charge and interest are both way higher than normal, on some deals I ran numbers the points and interest were going to be 20k on properties where the ARV is 100k so you have to get properties at such a low price to make it work that it is so hard.

Some banks and lenders will cut you off at 6-7 even if your DTI is below the normal percentage.

In Illinois, when an agent does that, there are functions normally expected of the realtor that they are legally prohibited from doing.

Normally the escrow agent will want mutual sign off even if its clear the contract terms indicate one party should be awarded the escrow funds.

It’s totally normal to feel overwhelmed when starting out, but it’s great that you’ve been saving and reading up on investing.

Normally, companies keep changing their name after losing all investor’s money.

What penalties are normal for this type of partnership?

It's a competitive market and most of the people that get in trouble here are ones that buy blindly without actually figuring out the numbers, etc.You'd be surprised the number of times I get asked after month one if their electric bill of $xxx or whatever is normal, and the thought running through my head is "how did you not  check things like that before you committed half a million dollars to something?"

Hello BPers I was going to attend my first local investor event/meet up and was wondering what people normally wear to these things.