Purchase price: $198,000 Cash invested: $70,000 Sale price: $340,000 My wife and I purchased this home with the help of a private investor from a bank foreclosure.

I'm also trying to keep my eyes peeled for properties that require some rehab (kitchen/bath/flooring/etc).. not major projects.Details: -I have set aside $350k of expendable cash, and I'd like to leverage this.

Ours was bad, took 2 washes with TSP, yellow just dripping off ceilings and down walls, pooling on slab.

Purchase price: $800,000 Cash invested: $800,000 Life goal to retire in Yosemite.

Is the property cash flowing?

Send him a letter, emphasize that you are personally yourself the end-buyer, include proof of funds, include something attesting to you being financeable (unless your proof of funds is for the full cash purchase price).If he owns 20 local businesses, good chance he's in at least one chamber of commerce, and if he's not, he 100% knows people that are, who will spill the beans and offer to do an intro if you mention you're interested in buying a gas station over a beer or a meal (there's probably like 3 people in that city that fit this description, why not get introduced to all 3?)

Feel free to reach out if you have more questions.Thank you for your advice.My thinking aligns with yours in that, at this stage, I lack the credibility and necessary funds.So, in the meantime, wholesaling seems like the right move for generating cash flow, familiarizing myself with the lingo, and expanding my network to build a list of buyers and potential partners.I've registered for a multifamily event next week and applied for membership in the young professional real estate group in my area.I do have one question, though, considering I'm at the beginning of my journey: What skills do you think I should develop to be useful? 

The acquisition will most likely be 100% cash, as well as rehab (simply because I want to make cash offers and be able to close in a couple days). 

I found a cash buyer and we closed before the auction date.

Salem generally offers better ROI and higher chance of cash flow, making it a compelling choice for your first BRRRR project.