They don't have the insight to forecast markets, lack respect for downside (because they haven't been around long enough to have experienced it), and underwrite to the best-case scenario.  

Sponsor in these deals in my mind is far more important than the deal.. there are deals everywhere that's not hard to do.. finding qualified ( VERY EXPERIENCED) sponsors who have been through many economic cycles is hard to do.

Partnering up with an experienced and reliable pro is absolutely the way to go in any newbie venture.

Hello all,Just wondering if anyone has ever noticed an increase in difficulty when it comes to finding tenants for a property with no off-street parking, no washer/dryer hookup, or the combination of both. 

If you are confident in your numbers and that the $10k back at closing will sponsor the improvements need to begin raising rents then you shouldn't have cold feet.You may have some difficulty raising the rent $100 out of the gate but then again there may be some tenants you would rather move out...If you are happy with the current tenants I'd look for a way to stagger or amount...not all at once.

Thanks for the experienced feedback, Brent.  

Even though I am an experienced small business person,  and an experienced commercial property owner, I apparently can't necessarily run around with my down payment money, call it 25 percent down and expect the deal to be pushed through.

I started out buying in just my name and later when I knew more and was more experienced transitioned into  an asset protection plan. 

Or partner up with an experienced wholesaler and split the deal.

I think craigslist may be a good source to find some off market deals but I wanted to see what more experienced professionals think.Any successful stories you can share?