I would have to form a argumentative position, but I love researching and learning about the various financial systems.Also, I want to thank you for noting my bad grammar.

Or you could see if he will let you on his assigent form as an assignor and only have one assignment on the hud.

I would like to put this property under contract for a possible wholesale.Here are the numbers,Asking price:135KRepairs needed:60kAvg. rent per unit:300 as of today, suspect this could go up somePro Forma according to seller:Gross Income (21 Units@$7512/mo) $90,144Less Vacancy and credit loss 10% $9014Effective Gross Income: $81,130Less Expenses Taxes $5709 Insurance $7557 Maintenance (yard included) $5320 Total Expense: $18,586 (23%) Net Income: $62,544

You would form a better opinion because your perspective, drive and learning capability may be different from your friend that DOGGED the guru.

I learned how the wholesale process worked when I bought my rental form a wholesaler.

The realistic pro-forma (future performance) after repositioning and stabilizing the property is what really matters.

I already knew a lot of the information but it helped me to get it organized in my mind so that I could form a better marketing campaign.

Are the financials trailing 12 month actuals, pro formas, or something else?    

In essence with the earnest money check, wouldn't that show that I am committed to the deal because if I couldn't line up my own funding before closing, I would lose that money.Just in my thinking it would be easier to attract private investors to a commercial deal if you already have it under contract and can show them real numbers instead of pro-forma numbers based off of some hypothetical property that might not even exist.

He said, "My friend, they don't care if you put steak on your table or hamburger helper" As someone who points out all the flaws, runs conservative pro formas and struggles to attain REAL deals for my clients, it drives me absolutely bonkers when something like this happens.