I evaluated the deal looking at comps in the area (hard to come by), the 50% rule, the 2% rule, and common sense based on my personal situation, knowledge, and availability.

I have really enjoyed reading here on the forum for the last couple of months and have gained a lot of knowledge that I plan to put to work.Thanks again.

If the person in question had skill, or knowledge, they sure as hell wouldn't give it away for free unless they were crazy, stupid, or rich and bored.

The last year I feel like I have grown so much in my knowledge of real estate.

If you can find a local investor that you can trade your skills/time/value for his knowledge, you'll learn more than you ever could by going to school or reading books.Secondly: BiggerPockets is the absolute best resource online.

I'll be blunt - you're lack of knowledge and insistence on being right is FRIGHTENING.

I am in the "learning" phase of real estate investing and look forward to gaining knowledge and making my first deal in 2013.

If you're a successful wholesaler and want to learn about rehabbing, find a successful rehabber and offer to bring him a few deals in return for teaching you how to rehab.I've done #1 above for several new investors, and would always consider doing #2 if someone who could provide some value in return.That said, there's absolutely nothing wrong with paying for coaching under the right circumstances (the coach is knowledgeable, has real-world experience and is reasonable in his fees) -- but don't assume that you *have* to pay to learn this business from someone successful.

There is a huge number of extraordinarily generous people here who have experience and who are happy to share their knowledge.

Joshua Dorkin,Brandon Turner, (and a bunch of others I don't know yet...)I have never been a member of a community that is so helpful, so fast, and so knowledgeable.