I did opt for a seat with a table so I can take notes and spread out a bit.

The problem with this is that (1) the deal they think is ‘great’ is probably mediocre at best; their lack of experience and expertise causes them to either mis analyze or exclude information , (2) the ‘off market’ deal they found is not off market, it’s just not listed with a broker, and (3) with no money or experience they don’t bring anything to the table worth an equity position.At best they might be able to obtain a broker fee.

What do you bring to the table?

Purchase price: $13,100 Cash invested: $30,000 Sale price: $79,900 This was my first fix and flip, The house was in complete disrepair, it was gutted to the studs, spray foamed, new electrical & plumbing. replaced the water heater and furnace with new high efficient models, new drywall & siding, porches, basically the whole house besides the roof and studs.

Other fees turning water on/appraisals etc$1000$51000 opening cost.

However, in any deal you must still bring some value to the table (capital, experience, ability, resources, etc) otherwise the remaining parties have no motivation for your involvement.As a new investor with no demonstrable track record capital is your easiest ticket to the table.  

I'll be paying for water and gas radiator heat.

Here are my numbers I tried to link to my direct excel sheet last post but it wasn't working so I'm just going to copy and paste.Property Type: Single Family 4 bed 3 Bathroom     Mortgage Calculation Property Price $ 180,000.00     Loan Amount $ 173,700.00 Down Payment of 3.5% $ 6,300.00     Interest Rate5%Loan $ 173,700.00     Loan Length (years)30Rental Income $ 1,500.00 Cash Flow   Payments per year12  Out of pocket $ 1,172.46   Total number of payments360  Tenants Rent $ 1,500.00   payment per period$932.46 Monthly Expenses Cash On Cash Return   Monthy Payment with Tax$1,497.46 Taxes $ 450.00 Down Payment $ 6,300.00   sum of payments$335,685.30 Insurance $ 115.00 Closing Cost $ 3,000.00   Interest Cost$161,985.30 Electric $ 100.00 Rehab Budget $ 7,000.00     Water $ 70.00 Total Investment $ 16,300.00     Gas $ 50.00       HOA $ -       Lawn $ 25.00       Vacancy $ 100.00       Repairs $ 50.00       Mortgage Insurance $ 115.00       Capx $ 100.00       Mortgage $ 1,497.46       Total Monthly Expenses $ 2,672.46       

So here's one idea: if you want to find people near you in serious financial hot water, with pressing reasons to sell their house to you, why not look where you're sure to find these people?

I get to the closing table last night and sign all the paperwork and get an email from the seller stating he is backing out of the deal.