So let me understand this (and I mean this 100% respectfully, but admittedly with a dash of sarcasm):  The rich folks like to invest in a deal that loses $50k or so a year, because that's good for taxes?  

Sounds like you do not have any established relationships with any of these professionals either.  

@Mark Allen  Are you referring to being diversified with respect to markets or with respect to investment (multifamily/retail office, etc) of both?  

In my opinion, and I'm sure in many others, that is still a respectable margin.

Find an issuer using the issuer's exemption who can establish a pre-existing, substantive relationship with the investor prior to an offering.  

With that being said, I need the capability to buy and sell my own properties and would like to hang my license under an established Los Angeles brokerage firm.

Eighth, Once you make it work, then you can establish more teams in different places. 

In my mind its just like trying to start in the RE sales game.. you need capital you need training and you need the TIME to get your deals flowing// it just does not happen over night.. you can go to REIA's and let the established folks use and abuse your time..

Hey everyone, I'm starting my wholesaling career and is seeking advice from established Investors.

Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate).