Do some quick calculations in your head and jump on the deal.

Failing to have enough projected profit means that you could lose a lot of money if unforeseen expenses come up or the market heads south.This was a good experience.

Almost every professional athlete has a coach. not just a head coach but a personal trainer that helps them stick with their goals.

I don't want to overestimate the expenses too much. 50% is a perfect screen test and is easy to do in your head.

Unfortunately it is not that uncommon, he was probably in way over his head. 8)

I think I have my head around the whole idea.

It seems that with my browsing on the forum the are so many things I have to learn more about it's making my head spin right now.

*Too small of a target market in my area*Not enough people facing foreclosure have 30% equity or more*People will think it's a scam (I was just on the HUD website tonight where they describe a similar arrangement as a scam)*Takes too long to flip the property*Property needs more work than I thought*I can't handle the carrying costs*I can't find anyone to rent it*I can't find financing/get lender to let me assume mortgageThose are just off the top of my head.

It was a step up for me a year ago when I ran into it just before it was headed to auction and got a nice price on it.

You seem to have a good head on your shoulders, and you recognize that birdogging is the best way for you to get started.My first suggestion is to join the local Real Estate Investor's club in your area (REIA).