You need credit, income, knowledge/experience, collateral and assets to be considered for financing in RE, if you lack in one area, you need to compensate in another area, but the ability to repay and collareal can't be completly overcome with other aspects.

I think it is great for young interested investors like myself to hear these stories and to remind ourselves that everyone starts somewhere and to hear some of the learning curves that others had to overcome on their road to success!

. :) Bill Gulley - that's a clever approach that has already been suggested to those who face HOA restrictions on rentals; so gov't restrictions could certainly be overcome similarly (until they re-do the ordinance).

I don't say this to discourage you at all,  just to understand the market and how to overcome.

And many times, the very reason that the houses are available cheap (elderly owners, divorce, "drama," and so on) will make it very easy to forget about your emailed offer - or even your phone call or letter.IMHO, you need to be there in person, looking someone in the eye, solving their problem, making it very difficult to say "no" to you, and making it easier for you to overcome any objections.A salesperson who waits for prospects to call him back will starve, for sure...

I always sold the meat, not the sizzle, and when I went into insurance they taught the phycology of selling, over coming objections and how to lead others to a desired conclusion.....so they say anyway.

How will you overcome cash-flow challenges in this scenario?

Any advice for overcoming the pitfalls of being a "part time" realtor?

Ive overcome the issue of not knowing who's is who's by having them either write their name or address on the signature line of the deposit ticket.

Its your job to figure out why and see if you can overcome the hurdle.