I wish you lots of success and I hope you don't mind the occasional question from me ^^

I *always* contract with the intention to buy, but occasionally (often during inspection) it becomes obvious the property might be a better fit for my buddy Jim, who is an electrician, or Bob, who is a plumber, or Dave, who is a GC (all of whom flip houses on the side).

There’s some peace of mind knowing that you can occasionally do some things yourself if you want to.

Occasionally a turnkey rental opportunity presents itself, but around here the name of the game tends to be either Househacking or Value Add (aka Rehabs)

Occasionally, they will offer "sponsorships", whereby they will email your message to their list of agents.

There might also be the occasional SFH flip, but not likely.Again I can't thank you enough for the invaluable help and guidance everyone provides in this community.

Having a little nicer unit than the competition IS the difference.Sure, you will still occasionally get the wool pulled over your eyes, and sometimes a tenant will have a true, legitimate, life changing event that affects them, but, Big Picture, my experience has consistently been that a complete tenant turnover, on average, takes three years, and if you have taken the proper steps, you should have a VERY low number of problem tenants once you reach that point.

Don't get so extravagant that it makes the real estate not profitable. 

Occasionally I think you can talk to the lender about helping you out but I’ve never taken that road.I’m not saying that it cannot be taken but I’ve never taken it.

With that, we became the American Association of Private Lenders—and we began spreading the word.Finally, Some DefinitionsUnderpinning the concept of minimizing the use of “hard money” in our industry is a recurring theme of standardization—that the root of the issue is too many interpretations of what the same terms mean.We offer up the following definitions for discussion, debate, fine-tuning, and eventual consensus [last updated 5/9/2022]:Private lender: Any non-depository individual or entity that primarily originates business-purpose loans secured by hard assets, generally real estate.Hard money lender: A subset of private lender where creditworthiness is determined solely by the securing real estate collateral.Correspondent lender: A subset of private lender where the closed loan is sold to investors.Portfolio lender: A subset of private lender where the closed loan remains in the lender’s portfolio.Fund manager: A subset of private lender where, depending on the fund structure, the deployed capital is sourced by offering exempted securities to accredited and occasionally non-accredited private investors.Private investor: An individual or entity that seeks a return by deploying capital through a private lender or fund; the investor may or may not be named on the loan’s promissory note.Private money broker: Any individual or entity that acts as an intermediary between a borrower and a private lender without directly originating the loan.