Okay hard money pros...Scenario:-A fully licensed real estate (deeds...not money) broker in California wishes to make hard money loans at very high interest rates in trade for aggregating money sources for fix-and-flippers and providing the fund apparatus where they can pool investors' money-The broker/lender inserts a choice of law provision in the contract stating that the laws of California apply-The broker/lender loans on projects in other statesI read in other posts that people have received advice from attorneys stating that the choice of law provision somehow "imports" the rules of Cali and allows one to lend at usurious rates.

Two of the biggest complaints I see in the forums is real estate agents not returning calls to investors and people not knowing how to calculate accurate wholesale and flip numbers.

I find it a much better source of leads for properties that are bank-owned or distressed in some manner.

You need to know your market, occupancy and competitive rent rates, renter expectations, your goals, risk tolerance, temperament, and your resources.You need to know your local tax rates, state/local landlord rules, housing authorities, insurance sources, financing options, occupancy and employment trends.There are crazy tenants but effective management can minimize the risks.Good luck.

What was the source of your motivation?

I had to try and find SOMEONE out there that actually took the plunge into the Advanced Training.And I did.But here’s the biggest problem, all of the bad comments I’ve been reading come from the people disappointed in the sales pitching, but I’ve already expressed my opinion on not expecting the world for $199.

One of the things that will make the biggest difference is to make sure you are using the right wording.

One question I have relates to how to source deals.

To dig a little deeper into "why" a mortgage doesn't stay attached - there are a couple of reasons.The biggest, is that the county wants a second interested party in a parcel who would be responsible for paying the taxes each year.

Do you think the biggest problem with the deal that Shawn proposed is that it is a "duplex"?