Ok Why do I feel alone out here? I am buying property, paying cash, repairing them (ie. paint, new appliances, new light fixtures, flooring, gravel drives, exterior paint or wash, central, landscaping,plumbing and electrical) and selling back to the general public at prices thay can afford. Some I keep and add to my rental fleet. But what has me confused is all these people talking about 30 year mortgages and how long it takes to see a positive cash flow. What am I doing wrong I have more clients waiting for houses than I have houses bought, but I want to see a profit and have it all paid for in less than 3 years. My biggest problem is not having enough cash flow to buy all the great deals that I come across and providing great homes for these great people. my formulas are just not comparing to everyone elses. Am I doing something wrong? Look forward to hearing from anyone that has anything to help me see this in the light I should be seeing it in. Thanks all and Prosperity to everyone!!!
Not every market is the same. Everyone on here lives in different markets. For example, I live in Central New Jersey, the average median home is 350K. It’s expensive here so making the numbers work are harder for people out here. But others live in Ohio, where homes sell for a lot less and are plentiful. So it all depends on your market. And different areas will have different results.
I see things being bought that just doesn’t make sense to me. I saw a duplex that only brought in $2200 a month sell for 400K!? I don’t even want to tell you what the property taxes are on that. But than again I think some people are idiots.
I agree with you. I don’t understand alot of what is going on with some of these people and their deals. So much is going on all over the place with so many different deals that it is hard to keep up. I just know that my goal is buy fast and cheap, fix fast and move fast be it sell or rent.
Absolutely. I live in Fort Wayne, IN, and the deals are out there. So many REOs and vacants I feel a panic sometimes trying to keep up. Its all about the different markets.
Glad to know there is a market somewhere else like mine : - ) !
youhan,
you never stated where yor incredible market is so maybe someone reading might want to come by and keep you company
I am in the good state on NC. lol sorry
I have family about to start investing in the Knightdale,Wendell and Zebulon area (east of Raleigh).Whare are you in NC?
Hopper
In the dc area that numbers are hard to work out especially for rentals. Most 1 bdrm condos in a nice neighborhood go for over $300K. Houses…forget about it. You’re talking 500K and over. You would have to rent to multiple tenant groups.
If you have all those clients, and if you’re making a profit then I don’t see how you can be doing something wrong. If it’s working for you keep working at it.
Thanks I am working hard at it. And by the way I am in the Cleveland county area of NC. ;D ;D
Instead of just making all of these vague claims, why not post some numbers? I’d like to see the numbers on a rental that can be paid off in 3 years!!! Maybe we can all learn something.
Mike
My market is a hot one too.I am in St. Petersburg,Fl and 50% of the houses here are 60 years old or more.There are so many houses to flip that it’s a wet dream come true ;D.Good luck to all of you in you goal to achieve mass profit and future wealth!
Hopper
It is very simple…Bought for $5,000, repairs $2,300, Central $1,700, Misc. $1,000 (ie. insurance, utilities, landscape, etc.) 3 years at $375.00 a month. I made a proffit. I have a three year lease in place and the renter is a gov. assist client. Hope this helps ya. It’s GREAT!!!
BlueStarHomesInc you have a PM.
Carl
Carl are you saying I have a pm? I don’t have one if you are. Sorry. You are welcome to e-mail anytime. ;D ;D Kris
Sorry Kris,
I sent BlueStarHomes a PM.
Carl