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Author Topic: 10lbs. of stuff in a 5lb bucket  (Read 1407 times)

Offline Dandotcom

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10lbs. of stuff in a 5lb bucket
« on: February 01, 2010, 02:00:31 am »
I really like this website. There is a lot of information from alot of professionals who seem genuinely concerned for the betterment of others... with that said, I have many questions! I know that the price range in my area is right around 170K. If I use hard money, I can't pay more then .40 cents to purchase because I still need to cover holding, fix-up, soft and selling costs and I still need at least 10K for my end, in addition I want to sell at a discount to attract the "quick-sell" buyer, right? How do I fit all that into 60% to 65%? Is this feasible or am I just over-thinking it? Please advise. Thank-you. javascript:replaceText(' :banghead', document.forms.postmodify.message);

Offline ReCoachDennis

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    • Real Estate Coach Dennis
Re: 10lbs. of stuff in a 5lb bucket
« Reply #1 on: February 01, 2010, 06:12:18 am »
Awwshucks Dan.com

thanks for the kind words :-)

Glad you're doing the numbers. You need to know a formula going into each deal before making offers. And you're right to include your flip fee in there as well.

Remember to go conservative because if your numbers are off, guess where the money is coming from? You got it- that 10k you were wanting.

Having said that, I do have a property offer/analyzer on my website free for the asking.

There are definitely properties to be had at the 40-50% level and even less.

What will help you also, is increasing your knowledge base of techniques you can use. For example, you may be able to take a property over via an option or subject to and flip it that way. that saves you tons of money as well and you can increase the amount of houses you can flip at this level.

Hope it helps. Let me know

Dennis :beer
Always on your side with Real Estate Investing Coaching and Mentoring. http://house-buy-coach-dennis.weebly.com

 




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