Cut your losses and move on.

It's very scary, but it will very likely be fine.Issues after the exposure are short-term memory loss and difficulty concentrating.

Seller financing is in the billions, it's full of amateurs causing problems, some intentionally and some unintentionally, causing the public financial losses, just a fact.

However, real estate is one of the few industries where one can make a decent living without much education [banking is the other].Depending on what you want in life, obtaining a college degree might be feasible.

In short, WHing is very hard. 1) Finding a deal that really works for all parties (almost impossible), 2) Putting it under contract without EMD or POF (almost impossible and a huge misconception), 3) Getting your cash early or after closing without a hitch (almost impossible). 4) No resentment from one or both parties- almost impossible. 5) Absent a novation, having no liability or losses if the deal with your assignee or seller goes south - almost impossible. 6) Providing value/ convincing the property owner that selling to you at that insanely low price right now (and not listing it/ market be damned) is in their best financial interest- Almost impossible.

Wants to "cut his losses and sell asap".

I understand multi-family and commercial should be their own LLC whenever possible, but it's just not feasible to have an LLC per SFR.

They expect taking 6 months for the renovation.his is the owners accouting of what he thought income/expenses would run: projected income 36 2 bedrooms x $550/month = 237600 per year minus 8% loss rent 19008 per year total income 218,592 per year projected expenses taxes: 21988 per year insurance: 10000 per year maintenance/supplies: 12000 per year legal/administrative: 3000 per year salaries: 20000 per year Misc. expenses: 10000 per year Reserves: 36000 per year Utilities: 6500 per year Management Fee: 36000 per year Total expenses: 155488 per year Net operating income: 63104 per year think the projected expenses are way high. 36K for management....i thought closer to 5% was normal for this type of project.

@Michelle Hassler,I think everyone will respect your decision if you want to move forward with Fortune Builders and if things go bad for you, everyone here will welcome you back with open arms all we are trying to do is save your heart aches and loss of money and keep you safe from the snake-oil salesmens.Joe Gore

My #1 rule of seminars is that if there are pictures of estates, expensive cars, or blue water (pool or ocean) being displayed on a screen in front of the room, someone is going to get excited and eventually take a big loss.