I came across a wholesaler/rehabber in Texas who has made the following pitch; Description: Under market value fixer upper 4 beds 2 bath, 1078 sqft, lot size: .13 acres, yearly taxes: $1,200.00, estimated insurance: $750.00, estimated repairs: 30K; central hvac, flooring, update kitchen/bath, roof, interior/exterior finish.Price: $49,000 CashARV: 109-115KExit Strategy: Owner Finance with 30K repairs: 5k down, $1,095.00 monthly P/I, 30 year amortization, 10% interest, Price: 109kRent with 30K in repairs: $1,095.00 with section 8, no need to chase the monthly payment, Housing Authority pays direct deposit to your account.He is recommending a cash purchase but also has a lender who does rehab loans.  

Good morning, I hope all is well.For the last 5 years I have worked as a real estate agent helping investors purchase profitable investments.I personally have flipped a couple of properties but really want to pursue my passion in developing individual residential homes.I hope I can connect with more investors in the south Florida area.

What are some first steps you would recommend for an individual like myself that has capital and wants to invest in rental properties.

I'm sure this is not the best way being the results I'm seeing is the contractors buying way more materials than are required for the job and buying tools and equipment on the account when not authorized ect...  

This is only possible for high networth individuals and institutions with the capital- and staying power to invest and last longer than 12 years.This was just a brief journey into cultures that defy wealth creation from the bottom up.

@Kathy Schoppe - if you use the @ sign followed by the name it will tag the individual you are communicating with so that they are notified. 

Which direction is the subdivision trending, do individuals within that vicinity take pride in their homes? 

Maurice,I'm a new member to the BP community but have closed hundreds of rental properties with individual clients and also corporate clients.  

I participated in the Yonkers meet up and it was great, i met like minded individuals and finally got the play the cash flow game. it was great. looking forward to more meetings and meeting more people. i am interest also in sitting down with a CPA to discuss my goals. 

Almost invariably, those individuals say the one's who get it done are those who "jumped in", "grew a pair", or "pulled the trigger".