To be effective and successful in business, one needs to have a thick skin.

This ensures that you have your skin in the game.

I know a guy who buys real estate on credit cardsthere are many ways to skin the realty catenjoy

It is an admirable goal and more than doable, but the top items you need in place to achieve this, above the standard needs of simply investing/understanding real estate, are the following:#1 A soft, but not a martyr, heart, and THICK UNRELENTING SKIN.#2 Understand that the people you deal with no matter how wealthy or poor - character is key.#3 A successful mentor that can offer assistance when you absolutely need it - and you're gonna need it!

Now I understand that wholesaling is not for the faint of heart nor is it for the soft skinned, and I am by no means one who gives up easily.

The market rate tenants take much better care of my properties because they have more 'skin in the game'. 

I would have the renters co-sign so they are also named on the lease and have some skin in the game.  

Should you feel or know someone who might want to partner up I’m certainly willing to put some skin in the game of 5-10% please feel free to introduce yourself and we’ll see if it’s a fit for each other.Numbers: $195,000 Asking Price$2,250 current monthly rent$261,891 Zestimate - Dec 2012-July 2015 It hovered around $220K$4,191 2013 Taxes $222,900 2013 Tax Assessment$136,900 Town Median6 Bds 4 Baths, 7250 Sqft1st Floor – 1 Br Apt2nd/3rd Floor – 3 Br Apt2 Br Apt in the Barn in the back.

I will have significant cash ( for me) in the deal, lot of skin in the game.

I was thinking that the new tenant should contribut part of the security deposit--otherwise they have no skin in the game and may not worry about the repercussions from causing damage.