It took basically a year from close to list on a 1300 sq ft house. 

At the meetup there was a speaker who was talking about his success to financial independent and when he went through his list of rentals he bought over the years it left me with a lot of questions. 1: Most of his rentals he bought in B+ to A area's in the 300-450k range in Florida.2: His numbers just didnt make sense, one deal he posted it showed literally like a +$5/month cashflow only....So afterwards i started to talk to him more and he mentioned that he is not the type that invest in cashflow, he is a equity investor... intrigued me so i asked more questions and basically he went on to explain to me that he buys properties that need a little bit of work, but have built in equity in the deal, but he has 4 main rules he goes by... 1: If the Roof is greater than 10 years, he always puts a reduction in his offer for a replacement roof.2: If the A/C is older than 5 years, he always puts a reduction in his offer for a replacement a/c.3: If the house is older than 30yrs old, he always puts 10-15k reduction in his offer for a water line replacement.4: He refuses to buy houses with pools....Anyways after a bit of talking he explained to me that he buys larger 300-450k houses, because most investors are educated to not buy them, so there is a lot of room to wiggle on the deals due to lack of competition on offers and most people in that price range are easily able to be purchased with a few % out of the deal to skip agent commisions..Example he gave me, he recently bought a 455k deal for 405k, but the ARV 535k, because he talked them down in needing a new roof, and a/c and offered to pay cash instead of going through an agent if he would drop 4% off the price for that... 

that works you could do a basic LLC and have uneven distributions which is the major benefit to the LLC.. the LLC lends the money you have 2 or 3 buddies as members.. you the sponsor be the managing member.. then cut the pie however you like.. when I had my shops I did this through guidance lines with my banks.. we put the cash out for the loan.. then back filled and pulled from our guidance line.. for every 1 mil in cash we had we got 4 mil from the bank..

We are basically looking for a good cashflow property (multiplex 20+ units) something which could give 20% or above ROI.

For those who don’t know, prop 10 would limit landlords ability to raise under market rents and basically cut landlords at their knees.

TIC will affect your loan limits like Chris mentions, though.If AZ is a community property state, basically all assets acquired while married will be shared, whether on the deed or not. 

I’ll never spend money on this type of coaching but I have thought about going back to these events and just telling people about BP and basically explain how these things are almost always a rip off.What do you think?

I hear about equity a lot, and this might be a pretty basic question, but can someone explain equity to me and how it pertains to wholesaling?

Compare notes and do what you can to find sold prices near by ie comps for arvs but basically keep looking at deals until you know a good deal when you see it

Typically, the maintainers are staying in hotels where they are spending anywhere from $1,400-1,800 per month on a basic hotel room.