You're not going to be able to compete with the experienced investors, and you can get yourself into some real trouble if you're not prepared for what you're doing.I'm not sure how far into your career you are, but remember that there is no rush.

Having said that, things could be different in the People's Republic of California, so you probably want to check with your attorney or another experienced investor in your area.

I'm wondering if anyone more experienced (specifically with California) could help me out.

Experienced rehabbers will normally have set percentages or profit margins that they work off of (i.e. 70% of ARV minus repairs) which are fairly conservative to guarantee that they make money.Your best customers will probably be investors that are buying for long term hold strategies (i.e. rentals, owc's, lease options, etc.).

After glancing thorugh this thread, there appears to be some bad information.A fornesic loan audit is not the process of having you or your attorney tell the bank to "produce the note" which some have done to stall their foreclosure process.Rather, a fornesic loan audit (at least a real one) is where an experienced attorney goes over your loan documents as well as the appraisal documents and idnetifies (if they exist) any violations in the TILA (Truth in Lending Act), loan fraud, appraisal fraud, RESPA violations, etc.

Perfect for the beginner or the experienced investor looking for new strategies that work in today's market.

For those who are experienced rei's, and have read this book, what is your take on it?

Most property inspectors are going to look at you a little odd if you take them into one of the dumps that most wholesale deals are.Now who IS better equipped to walk through a wholesale deal is an experienced contractor.

There is a wealth of knowledge and experience al over the forums.

Da Deep, maybe you should hire local realtor experienced in short sale, who would be able to make the deal with the deal.