9 March 2024 | 6 replies
There are definitely a lot of wholesalers doing "DTA (Direct To Agent)" but you really need to know what you are doing otherwise if you are just someone who is tying up their deal and wasting their time if you can't properly dispo it, you're going to burn your reputation.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2650305/small_1674566693-avatar-antoniom196.jpg?twic=v1/output=image&v=2)
9 March 2024 | 9 replies
Obviously, I don't know anything about your finances, so for all I know, you may have a few million in the bank, and this project is just a fun experiment that wouldn't even be a drop in the bucket if it all turns south...but, regardless, you'll want to model out what would happen if this project crashes and burns...As you may know, managing a rental in a D to F area (or even a C area) is usually not recommended (for many reasons), and funding a rehab with credit cards is also usually not recommended (again, for many reasons). ...even highly experienced investors often won't touch anything lower than C grade because of all the difficulties of managing and re-selling them...If you're dead set on rehabbing the place and keeping it, I'd strongly suggest studying up thoroughly on the local rental market and tenant pool (e.g.; rent medians and lower and upper bounds, typical days on market before securing a tenant, local vacancy rates, tenants' typical income, education level, employment opportunities, credit, and rental history).
9 March 2024 | 17 replies
Please be sure to review either your lease agreement, purchase and sale agreement carefully as well.Even if you hire a listing broker, or get a BOV review every contract because you will get burned on owed commissions!
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1847082/small_1694947078-avatar-coltonm27.jpg?twic=v1/output=image&v=2)
9 March 2024 | 17 replies
Also, secure your properties as much as possible or it may burn down at 4 am in the morning because of a homeless person (happened to me).
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2002105/small_1650048547-avatar-aarons504.jpg?twic=v1/output=image&v=2)
7 March 2024 | 10 replies
Then you have a burned up home and lot you can sell and make this someone else's problem.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/154322/small_1621419862-avatar-dpettitt.jpg?twic=v1/output=image&v=2)
9 March 2024 | 23 replies
It could be that they have burned a bridge or two.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1276954/small_1694765623-avatar-pauls416.jpg?twic=v1/output=image&v=2)
8 March 2024 | 9 replies
Things are going well however we have been burned twice with our tenants not paying water bill.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/156624/small_1701112911-avatar-engelorumora.jpg?twic=v1/output=image&v=2)
9 March 2024 | 261 replies
Consulting" was legal verbiage as we couldn't state a "deposit" for some reason.This was a while back when composed and for the purpose of investors having skin in the game before they get me burning rubber with pitching deals, answering questions, etc...Plus, if I don't like someone I don't have to sell and just refund the $5,000 "consulting" fee (Happens 9 times out of 10) 🤷♂️As you know, our operation is boutique as we prefer it that way and I "touch" all investors personallyAnd even prior to that step we have tweaked and tweaked our investor on-boarding process.How to pre-qualify leads via POF, auto-responders, VA's reaching out with email questionnaire's, FAQ's via our website and so forth.A rigorous process to ensure both the investor criteria and our model are clear for all...I mean it took years and years to develop, adapt, change, etc...But I guess that ain't clear enough either for some 🙈
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1834870/small_1643229152-avatar-henryz11.jpg?twic=v1/output=image&v=2)
7 March 2024 | 11 replies
Quote from @Cassidy Burns: @Henry Zhu , I'd look into reaching out to @Michael H.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2090262/small_1709396774-avatar-erics947.jpg?twic=v1/output=image&v=2)
7 March 2024 | 6 replies
Other than that, a refrigerant leak, the fan motor burns out, just throw it out and get a new one.