I am starting out in Colorado Springs and I have a property that will need work outside my skill level.

A small rental would give me a sense of purpose, allow me to use my skills and also to travel the west.    

what you will find is that some are just smarter than others.. and most are not investment cash flow analytical types.. its not their skill set.. but you take a good retail agent that works with the top of the retail market and they make big bucks like 500k to over 1 million a year in commissions..

We are able to hone our skills, at a much faster pace than those looking at a few deals per month.

It takes skill and guts to 'catch a falling knife';  it takes courage to make a smart decision when everyone else is in a panic.  

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $152,000

Cash invested: $54,392

Sale price: $309,950

The more we do the luckier we get! This was a longer flip ...

I kept a soft communication and during a coffee meeting I provided real quotes from contractors.

First, learn the process which could be explained in these simple steps:Step 1: Market to motivated sellers Step 2: Sign purchase contract with the seller Step 3: Find cash buyerStep 4: Sign contract with cash buyer for a higher price and collect 2k deposit Step5: Close Transaction via Assignment or Double Closing and Collect your checkSecond, learn has much as possible about the 5 skills needed to be a Pro at wholesaling.

I don’t want to waste much time in the smaller scale family homes/rentals if the skills don’t necessarily transfer & I’d have to essentially start over from scratch.

Avoiding pitfalls: Find a niche that you suites both your skill set and your mindset.With our strong diy renovation skills, we look for value add properties that have been decently maintained but need updating, and where we can still get a good deal.