Originally posted by Sam Craven:I live in the woodlands, 2 exits north of spring and have renovated and wholesales homes in spring/woodlands.

Thanks for replying Sam....You are absolutely right.I am trying to partner with someone who has experience with putting these deals together and I want to learn along the way.

@Sam OwensSince you are a first time investor, I would suggest assigning the property "as is" instead of undertaking a rehab.Unless you have funds on your own or you personally know people with money, it will be hard to get money, even from private lenders, unless you are willing and able to put some "skin in the game" (money down.)You build up your experience and resume as an investor by doing a few wholesaling or assignment deals to start with.Also don't second guess what potential buyers would be willing to pay for the property.

Originally posted by Sam & Heather Jones:Gotta be cool to be able to say you are flipping with the guy who literally wrote THE book on flipping!

@Sam BatesBased on Rich's wordpress website (http://rmccapital.wordpress.com/), it's quite clear he's not a portfolio lender.  

@Sam Hadad The market for good deals everywhere is tight.

@Sam Shueh I'm still waiting to find out why this happened and if the hook up was not connected or not or if it was a faulty washer hose that the Rent-a-Center installed.

Best regards,Sam

And @Sam Shueh I manage my properties right now.. but when I have more units I'll get a propeprty manager.

Trick is to buy it with equity due to selller motivation and or rehab but your profit for the period of holding should only be evaluated as cash flow, mortgage pay down, and of course tax benefits from Uncle Sam.