All Forum Posts by: Eli Gilbert

@Greg Dickerson

Ok so I’m glad that’s cleared!

So the % of profit you aim for after all said and done is 20%?!

@Will Barnard

I didn’t grow up in the states so no!

Lol (baseball)

@Will Barnard

Thank you!

That does help, I’ve heard and read about the 70% rule all over, but as you said each situation and each investor will have different situations/costs etc!

So what I am asking is what kind of profit would you feel comfortable walking away with after putting “x” amount of money into the deal!

As an example, I had a deal under contract where Purchase Price was $95k with $25k rehab expected and another &25k holding/ closing expenses, and an ARV of $170k!

So that fits your 70% on just rehab and purchase but closing/holding costs are large and profit potential is only $20k for putting in $145k!

What do you think about that?

@Jeff Cagle

Jeff!

Thanks for contributing!

What numbers do you aim for?

@Greg Dickerson

Cool!

Thanks

@Greg Dickerson

👍

Is that 25-30% of ARV or of Money put in?

@Greg Dickerson

Great answer, I read 10% in a book, thought it was a bit crazy!

All you successful Flippers and Rehabbers!

Do you have a formula for how much profit you want to aim for in your rehabbing!

Obviously the number should change depending on the size of the deal, the risk etc!

Please BP family share your wisdom!

Go!

@Michael Ealy

Sounds good, although not everyone I’ve encountered has that attitude towards us Newbies!

What are some resources you suggest for bigger deals!?

I’ve been trying to educate myself on the smaller side!

Books, webinars, podcasts?

Obviously REI meetups and networking, , but just basics of how big RE works , cap rates , Noi! Etc

@Michael Ealy

Hey Michael!

Thank you for being such an inspiration to all us Newbies!

I can understand that the work is the same etc, but the funding problem, I can’t wrap my head around, no bank would find a Newbie for a big deal unless they have massive amounts of capital, and why would an experienced investor want to partner with a Newbie, and why would an investor trust a Newbie with there money when they could just as easily give there money to someone like you that would almost guarantee their good returns!?