We are rapidly approaching the end of 2007, so I thought it would be appropriate to revisit special year-end 1031 exchange strategies, etc. by bumping this post from last year.

I have her address and phone number but I am unsure of how to approach her.

Any suggestions as to sources I could approach or possible lists of potential clients?

Jimmy,definitely, it doesn't matter if you have a property worth 230,000 and you're buying it for a dollar...well maybe not that far below market :D - but what makes a property a good prospect is if it matches your EXIT STRATEGYthis is made up of many different factors.Your exit strategy (or goal of purchase) is the most important aspect for your investment approach because it establishes your boundries and lets you know exactly where you stand and where you want to go!

If it is a wholesaler who has it, what is he probably looking for, what do I need to have in hand when approaching him?

Hard for me to imagine that it would ever even approach $100k in resale value in a drop so you really would have less than $50k at risk in my opinion.2)What if my first acquisition turns out sour and ends up being my last?

Blake,I do not know Darren Dicke and have never met him.Since this very old thread has been brought back from the dead, I feel compelled to say that the REIA situation in Columbus has dramatically changed.

Dealing with hardmoney lendersWhere to draw the lineAssuming the following expenses in a Real Estate Retail Transaction from end to endBuying a property expensesPurchase price+ Acquisition Expenses (Purchasing points costs + Holding Expenses for x months(mortgage payment)+ Closing Costs)+ Rehab costs + Agent/Realtor costsProperty Re-Sale expensesResale Closing costs+ Resale Marketing+ Realtor/Agent commissionwhat are the expenses a real estate investor would expect to be ignored by the hard money lender.I mean how does the investor approach the hardmoney lender,does he include all the above expenses as the loan amount when he prepares a project plan for the Hard money lenderor does he request all of the above money (expenses) part by part from the Hard money lender,please any one explain in detail,thanks,David

approach this as an entrepreneur, not just a salesman or investor.

Just a question that your post brought to my mind.