All Forum Posts by: Bob Pakney

 Just to reassure you that you have made the right move, those online portals contain practically all out of date information.  Every letter (over 100) we sent out was to a completed Foreclosure and was returned as undeliverable.  I am embarrassed to admit I am one of those suckers.  Now we are trying to rectify our error in a horrible market.  sigh.

Actually doing our first deal would be a good start. ?  I'm not being flippant with that comment, the current Reno market is not friendly to new investors due to a shortage of homes and the difficulty in obtaining the funds to do deals with.

It'll happen, sooner rather than later would be nice.

Merry Christmas and Happy New Year All.  I hope everyone had a happy and safe holiday season.

As I mentioned earlier in this thread, I'm a newbie.  My reputation is important so, getting  off on the right foot and not self destructing my career before I even get started is important.  Therefore I am going to ask some stupid or, not well thought questions to educate myself from the ground up.

So, is there a connection between the Christmas Holidays and my perception that there aren't very many Wholesale-able houses on the market here in Reno?  

Well said Nancy.

Here are the numbers.

• ARV$135,000 (Comps $139,000)
• Purchase Price-$95,000
• Rehab Costs-$10,000
• Fixed Costs- $13,000
• Profit $17,000

Not a very enticing Flip total and his purchase price includes $5,000 for me which is too much now that I think about it.I haven’t been inside it yet but the pics look good and I put $10,000 for rehab just to be safe.So, Comments, criticisms,

Thanks for the responses.  Being a newbie to all this I over analyze it and probably make it harder than it needs to be.  Since I could not get the actual excel file to post, I copy/pasted the wording here to give you a rough idea of what I'm using.  Oh for crying out loud.  OK, I will cry uncle here.  Apparently, there is a way to post files that I'm not aware of.

J.Scott.  I do appreciate your input on this and I'll post the final numbers over on the marketplace forum

I wish my file would have posted. Just a worksheet to come up with the numbers that I can show to a buyer. Bottom line would have been his possible profit from the deal.

I am working towards doing my first wholesale but I don't have a worksheet that will work for wholesales.  I will try to attach my excel spreadsheet that I am setting up for normal property purchases.  Could you guys could critique it for me and suggest some additions/deletions to the sheet?  I don't know if the chart is going to post or not.

Wow, thanks Paul, that's a lot of great info there.  Looks like I have even more homework to do.  I'm stil trying to figure out how to get the sig line info to show up at the bottom of my posts.