Hey Guys, Just wanted to let you know I just finished my first wholesale deal last week.

Investing sight unseen is what you hear from the late night so-called gurus.

It was freaky to look at the listing pictures because the finished listing pictures look exactly the same as my house does now, before rehab.

I have never heard about Bill Gates or Steve Jobs going back to finish college after starting their businesses.

If you happen to be in high priced area consider investing at a distance (its own set of problem), changing your focus to commercial or other property types or invest but not as a buy and hold investor.To finish I know one investor who is more of a rehab investor.

The seller might think it is but something comes up late in the game.

If they were late model, they steal'm to resell, if older,they strip'm for the scrap value.

That leaves a ton of room for mistakes, market corrections, etc. as well as more room to add debt financing and other higher holding cost factors.In todays tighter rehab spread market (at least here in CA) a good deal is at 75% and I have even done them as high as 80% but only when I was 100% confident of a first week full price offer on the re-sell, and the rehab was very light and very quick.Example, late last year, I paid $305k for a property that took me only $8k to rehab and it only took 10 days.

The only drawback is that you have to rent the apartment at least 6 years after you finished the (one year) renovation.

I've seen this topic on a few forums lately.