I haven't had any success yet.

I do seem to get the perception that the rehab market in Orange County is somewhat dry, and that profitable and successful deals would be difficult to make in the current environment as a first time flipper/investor.

For example, defining strategy, building systems, raising money, focusing on acquisitions, etc.I'd much rather spend my time doing those things that are earning hundreds of dollars per hour than doing things that will only save me $15-20 per hour (the construction tasks).The most successful business owners are the ones who spend more time working ON their business and less time working IN their business.

What Strategy would you use to get where you are now in your current state of success?

I have a mentor and also can call a couple guys who are very successful at anytime to talk.

Yes, you do occasionally hear about folks that started in RE with very little money and were successful.

I successfully obtained title on a mobile where a gentleman bought 2 acres with a stick built house and a 3 bedroom manufactured home.

Cheers to many more successes!

More specifically, how do you feel about, for example, a new agent getting a personal loan from his/her bank in order to "finance" the many costs/expenses.It's something that recently crossed my mind, and it got me to thinking - "if a person did do that, monthly payments would probably be a few hundred dollars a month, which would mean that would really be their only expense, which would mean they'd at the most need a part time job to pay for that as opposed to needing a full time job, therefore having more free time to dedicate to their real estate agent career, therefore better their chances of being successful at it."

Good success!