He could easily condo convert that property and make 1m net I had calculated.

You can flip apartments for six figures pretty easily, or you can condo convert often for more than seven figure profits.Once you get to the point where you're doing condo conversion you'll be making seven figures per conversion.

My new property manager states that it easily will rent for $1,695.00 a month.

So flipping properties is an easy way to make huge winfall profits with little to know work.So yes you can easily tie up a property and then sell the contract for a few thousand dollars profit to a REI by going to your local REI club and letting them know that you have a contract for sale.

In other words, why would anybody buy a property through a wholesaler and pay them a commission if the investor could've just as easily found the property themselves by looking on the MLS?

Compared to 95% of the country, I live in a very strong market to cash flow on properties, and in my area if that property needed no MAJOR repairs (no more than 10-15K to get all the units rented and decent looking), I could have easily sold it for $200,000 within 30-45 days of putting it under contract, probably even $210,000.If your market is even just not completely in the toilet right now, that could have been $30,000 to $40,000 in your pocket.And that folks is how you make money wholesaling.

I have a mixture of real estate and venture capital companies that need funds so I was told to combine them into an LLC in order to be able to fund them all more easily can at a cheaper rate.

Add in carrying costs, which can easily be 3-4%, and you need even more to break even.

Problem is, if it goes sideways and the developer has made this same "guarantee" to others, the security issue will come up and everyone will end up paying the attorneys.. again.But even if the develeper didn't offer a guarantee, the novice investor is easily clipped in these kinds of deals.

Many mutual fund companies allow you to buy as little as $100/month, so you could easily draft that directly out of your checking account.The way that I "generally" bought my stocks was that I would buy NO MORE THAN one month's income in any one stock.