For investors already doing rehabs, this is not much of a question. They will continue to do what they know and feel good about. For other investors who are looking to do rehabs or have only done a few, this question should be very important to their profitable future.

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This has happened twice with similar results so I thought it would be interesting to relate so you are aware if it happens to you. In the first case we were looking at a duplex that didn’t have a meter on the exterior of the building. The student involved took pictures for me to see the inside and outside of the building but I couldn’t see the electric meter. The power was on in the units, so I asked him to go back out and look again.

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Actually the closing agent walked the check over to me as they are across the hall. The buyer’s funds had been wired in two days before so the closing was somewhat cast in stone. My net check from the proceeds of the sale was $80,898.35. I mention this because I always see real estate gurus having students hold up closing checks that are irrelevant to what the student actually made on the sale.

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With the problems associated with selling distressed REOs (bank owned) properties, one would think that an asset manager for a lender would be glad to close out each and every headache he has in the lender’s portfolio. With this in mind, we were totally shocked when on the day of closing on a six-unit multi-family property the asset manager for the sale (A – B) decided to cancel the closing with no explanation.

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The rain had been coming down for what seemed like hours. I have always loved the rain – I can watch it for hours, but I hate being out in it. Anyway, a day before I got a call from a guy who said he had found me online and wanted to learn how to be an investor. I made an appointment to meet with him and he showed up at the exact time, but drenched from the rain.

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I had a profound experience that relates to real estate investing and it started out very simply.

I have a new son-in-law. He married my youngest daughter seven months ago and we are very proud to have him as a part of our family. He is an 11 year Navy veteran and was recently re-upped for another six years.

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This may seem a little off-topic from real estate investing but this is a topic which has or will make an impact on everyone driving a car. If it hasn’t bothered you, it will and usually by getting a letter from your municipality stating that your auto, for which you are responsible, was involved in running a red light.

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Today the “Bubble Head” reared its ugly head again. Bubble Head – a person who becomes foolish or empty-headed because of an inflated ego. In real estate investing, the Bubble Head is a vendor whose ego gets so inflated, because of the business you sent him that he gets so busy he actually gets arrogant with your referred clients. He can also be a vendor who just thinks he had it all together and acts like a jerk from the start.

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Every mentoring class I get at least one or two students who start doing deals very quickly and at a high volume, often one or two deals a week. I didn’t initially tell them about a strategy that makes a huge difference between average success and meteoric success because the outstanding students figure it out for themselves.

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If the title of this article sounds a little harsh, it’s not and every homeowner and investor faces this problem more often than you know. If you buy a stolen car where the vehicle identification numbers (VIN) have been carefully fixed and the seller has a new title to the car, you wouldn’t know any better. That’s until you were pulled over and the officer checked and found you were driving a stolen vehicle. You will likely lose your money and certainly your car.

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