I know multiple brand new officers who rent $1,300/month one bedroom apts (not including utilities) with additional $150/month garage fees.

I spend most of my time on the forums but also read and comment on blogsFacebook - I primarily use this for friends but will connect with others (ie people from BP) if I feel like I have established a relationship with them.

This is our 4th deal together so I suppose its all about establishing relationships, after all a lot of us wouldn't be in this business if it wasn't for HML and investors.PS: How is the market in Ocala compared to the low inventory here in Palm Beach?

It seems as if he is established in the states, and has owned his own condo for 8 years.

Given your level of question Ben and it's awesome you are asking, I would get your feet wet by trying to do some finding, or what you Americans call bird dogging for somebody who is already an established flipper or wholesaler.If you try and go straight to buying something you may get tripped up on the first simple question a seller asks you.

Typically what I do, and I don’t do flips unless the deal is phenomenal, is as follows:1.Establish the after repair value through market research. *** Utilize 80% of the ARV in your calculations.2.Establish Days on Market through market research.3.From that – subtract repair costs4.From that – subtract finance charges5.From that – subtract holding costs6.From that – subtract RE commissionsWhat is left with is what I can pay.

We thought $200,000 per lot would be the max we could justify (still would need to pay all school fees, utility extensions, park fee of $10,000, permits, etc., PLUS all the other building and development costs) Some foreign investors made an offer for $585,000 for both lots, telling the seller they can close in 10 days and construct the house in 90 (right.... but I digress).

To structure it any other way would seem to miss the point entirely.Kama Ward- If I hear what you're saying correctly, it is that the biggest problem with raising funds in this manner is the accountability and transparency with which you must utilize any funds raised.

Keep the buy and holds outside of plans and utilize the tax benefits of BOTH vehicles.

This may include review of comps on some properties to establish a strike price, researching a complex title issue, and bidding on properties.