The list is as vital as any contract.

_________________________________________________________________________________________________Now I want you to take a moment and write one important goal for each of the following facets of your life: physical, spiritual, work or career, family, social relationships, financial security, mental improvement and attention, and hobbies.

Buying right and strategic renovations is still vital.

I am interested in wholesaling in the beginning and then expanding into other facets of real estate investing later on. 

While you can definitely participate in those programs, it is even more vital for you to gauge your finances and not overextend yourself in these purchases.

Inexperienced investors tend to (1) get exited about deals without having the experience, knowledge or ability to properly determine if indeed the deal is good, bad or mediocre, (2) take what the seller says as gospel not realizing most sellers will exaggerate, lie and or withhold vital information to get what they want, (3) engage people who will provide opinions for free rather than pay a competent professional, (4) get emotionally caught up in the deal and very defensive when receiving an opinion or information that doesn’t support their dream, and rationalize that more experienced people who point out flaws are “jealous, negative or haters”.Btw, no one can provide any knowledgeable answers to your questions without first analyzing the deal, your ability to come up with a down payment, your credit capacity and banking relations, if you have a track record, your experience with similar property ownership, etc.

Having a strong pool of competent contractors was vital.

It is vital that this type of escalation clause clearly spells out what is and is not classified as an operating cost. 4.

Familiar with all facets of residential real estate.

Understanding debt component is vital to deal-making as it will provide you with the confidence in your financing to give the seller assurance you can close the deal.