If the rate isn't locked for 7 to 10 years then I do not count it for that length of time.You will also have to factor in resale costs or refi costs or diminished returns from taking on a cash partner to retire the debt when it comes due.From my experience really small local banks will look at problem properties or problem areas to possibly give a loan.

I have buy and holds with a partner there as well and have worked on other projects there.

If you can partner with someone to extract back some lost money great but you do not want to consume your time chasing pennies while you are making dollars.

This will almost certainly mean a partner, in your case.Unfortunately, the money’s not going to fall from the sky, Junior, and there are no secrets to finding it.

Cameron Ellis have you considered partnering with a more experienced wholesaler in your area?

Many sales techniques are first born and tried within the insurance industry.Insurance sales will also be great at teaching you how to deal with all types of people.The added benefit, insurance sales will expose you to possible real estate investments or possible partners.One of my real estate investment partners' primary business was as a life insurance salesman.You will also be in charge of your time.You may find the book "Swim with the Sharks Without Being Eaten Alive" a very good read.

Partnering with your buddy on a few deals would be the best way to learn the business while you self educate on the side.

You could also take on an equity partner in the deal with both of you on the loan, or at least the partner with the down on the loan with the other partner quit claimed to title after.

Get a liquid, experienced partner.

To start, I intend to wholesale for immediate income, partner on deals when the opportunity arises, and eventually be in a position to invest individually.Unfortunately, I have very little disposable income and a bankruptcy just under a year ago.