Mike Simmons came up with these requirements after 10-12 years of having partnerships that did not work and ultimately finding one that really does. 4 Requirements when Partnering: Identical Risk Tolerance.If the person you are partnering with doesn't match your risk levels, and what is scary to one of you is the starting point for the other, you are going to have conflict.

They're on month-to-month with long-term tenants who haven't seen a rent increase in years.Have a nine (remaining) day period to gain access (due to tenants), assess conditions, and either continue or pull out of the deal before earnest money is due.The problem we're experiencing is that buying as a package strains our liquid reserves to an uncomfortably tight level.

While the techs there, have him install a float switch so the unit will not start until the water level drops. 

But since I don’t know what city you live in, you might need to ask yourself real quick, if the market size and activity level could sustain some ups and downs, especially since both you and your girlfriend are agents.

I've studied the Worcester market and studied real estate investing, but unless I started doing it full time (which I can't because of my job), and continued to do it full time for years, I wouldn't be able to get the same level of expertise as people like Jeff and Brian. 

He might be able to charge you money and you pay him but that doesn't mean he can legally do the work if permits are required.There is no such thing as a Colorado GC license, licensing is done on the city / county level.

When all goes well things are good. 10 years ago, Investors enjoyed working with good wholesalers who would actively scout the properties desired and do all of the leg work.Over time, the ability to get involved with little or no skin in the game, the ability to make a lump sum of money quickly, and a plethora of bad information made available by people who were only after the disposable income of those who really did not have enough money to get involved in higher level RE took a good tool and exploited it.Wholesalers exploiting undereducated layman (someone who does this exclusively for a living is operating as an Agent with no licensing issues to restrain them or cause them to disclose expert status), using a lot of really distasteful tactics (like trying to wholesale deals already on the MLS, co wholesaling through a string of folks) and getting greedier and greedier as they went....That's where the stink came from. 

I would prefer to stay around 400k for my own comfort level if possible but hear what youve all said.

Big companies can be cheaper when they send out their low level techs to do most work, but they're more expensive when they're sending out their good guys because they have higher overhead plus the labor for the experienced guys. 

You need to get to a higher level of understanding before having your very first deal be $2.6mm.A.