TO JOIN INVESTR GRP OR NOT TO JOIN?
HI- I'm a 'REAL ESTATE DIVA/GODDESS' in training 
(but seriously) I am a true novice & i want very much to carry my investment career as far as it will take me. I ran across a site called REAL ESTATE INVSTMT GROUP (investors.qgicorp.com. They specialize in rehab properties. They are looking for rehab investor partners. Is this something that a beginner should jump into or not? They buy the properties & I buy from them. Will I loose money that otherwise could be mine? Opinions are welcome. 
Thanks - D/G IN TRAINING 
Don't look at what might have been - look at the property and the price. Does it make sense? Are you going to make what you consider to be your minimum requirement on it? (I won't answer the phone for less than $5k, and that has to be a quick contract flip.)
If you can make $100k on a property in 2 months, why do you care how much they make? OTOH, why get involved with a property that you slave over for 6 months, only to make $10k profit?
sumra,
One thing I have learned is to be very cautious, and to do all the due dillegence yourself. There are many companies claiming to be whosalers, and here are the great deals that will make all of this money. They are just too busy to work them all so they are whosaleing them off.
8 out of 10 that we have found have problems. Here is Georgia a few of us have been looking at the whosalers who offer thier wares at Georgia REIA and they are trying to take advantage of the newbies is the only thing we can see. They use comps that are not correct, they do not accutatly state the needed repairs, and the correct amounts for them.
I even heard of one deal here where a know investor sold to a new person. On the day of closing he had his workers go in and remove the HVAC from the house. When the newbie called he said to read the contract that if they paid more they could have had it.
What I would suggest is to find a not for profit association, and start doing some learning in the classes. Over time you will form some bonds, and can see who is honest with you.
The other thing I will say is dont try to make it all overnight, those 50K to 100K deals do not come around that often. Most investors are working those 20-40K deals for months at a time. If you are getting offers of making that much on each deal you will be dissapointed at sale time, if not sooner.
sumra,
I agree with victorb. You need to be cautious. A smart investor or wholesaler will "usually" not unload a property, no matter how overloaded they are, If they can repair and flip the propery at a good profit. You need to do your research on the company and on the property!! I prefer to find my own deals and I'm sure with some hard work you can also find them yourself. No matter where you live, no matter how overpriced homes are, no matter how good or how bad the economy is, no matter if it is a sellers market or a buyers market, you will find deals. The big secret about this business of REI is that you have to do the legwork! You gotta go out there and get CREATIVE!
Repoman
Agree with above, rehab can be good money but be cautious, do your own work, trust but verify. wish you luck
Don
Sumra,
girl to girl...can we talk. You are a newbie so my advice is to BEWARE OF PIE IN THE SKY PROMISES OF PROFITS - especially from those that are more experienced who claim to just want to help you out.
If you want to get in the game you need to start with some self assessment. By this I mean - are you ready for the risk you take when you take someone's word and you do not have the skill set to evaluate it for yourself.
More importantly, if you are new to real estate slow down for a minute and do some reading, take a course or 2, by some tapes or go to an affordable seminar. Your mind needs to absorb a few concepts before you can get started. There are ALWAYS going to be good deals out there. Do not be so ready to surrender to someone else's assessment that their offer is a good deal. You are a woman - your instinct will serve you in this business AFTER you have spent some time learning a few things.
So put your money back in your pocket girl. Hang around for a minute and learn a few things. read the various forums on this site like your life depended on it - then take another look at this deal. Guaranteed you will feel different about the offering in 30....60.....90 days.
Last thing, drive around a few neighborhoods and get a feel for what type of property you like. Single family, multi family, condo, hotels, small apartment houses. In other words, what arena is the DIVA/GODDESS going to play in. Once defined... then get your REI on!
Good luck.