Purchase price: $460,000 Cash invested: $125,000 Sale price: $840,000 Stunning new condo conversion set in highly desirable Victory Field neighborhood near the Belmont line.

The property needs work and have tremendous potential for an investor or condo conversion.

Having everything in writing will really protect you from a tough conversation down the line when you have many people working on a project.

If you can have those conversations upfront early and often, they will build trust that you are looking out for their capital.

I want to add a little to this conversation. 

After you have done a face-to-face, I would give a "Welcome Packet" which can just be a folder with how to communicate with you, pay rent, etc, I also will include a small gift, like a gift card, bottle of wine, etc (You will see what they like with your face to face conversation.

Trips are great but you'll be better served by having great conversations with good friends!

Conversely, when the credit markets are loose, and banks are enthusiastically lending money, seller financing has less appeal.Read this article for more https://www.investopedia.com/t...Good luck!

Personally, I've seen groups buy terrible deals just because they had the money to spend.3) Uninvolved Visionaries - True story, you can have conversations with celebrities running funds and they may not even know what assets they own or have in the pipeline.

We plan to hold this arbitrage until we replace it with a master bedroom or front room/studio conversion on a house hack.