All Forum Posts by: Eric Aello

Welcome! I would definitely use the calculators under "Tools" here on PB.

Very useful!

Why would you risk loosing a deal?

$1 ?....Really?    If that's the way you want to do business, I think you should have made it  10 cents.

Disclosure: I went to the 3 day $197 class.

First, why do people that have never payed for a class always say it's rip-off? How do they know?

Think of it this way. It's like paying for a college education or buying a franchise. The school or franchise is going to educate you, and sell you a PROVEN SYSTEM that works, BUT they will not do the work for you.

That is why some succeed, and some fail. Why some people with masters degrees work minimum wage jobs. Why some franchise owners go bankrupt.

THERE IS NO GET RICH QUICK SECRET! YOU HAVE TO EDUCATE YOURSELF, ELIMINATE AS MUCH RISK AS POSSIBLE, FOLLOW SYSTEMS THAT WORK (FB), WORK YOUR *** OFF!.

Okay, rant over.

I would go north of Dallas. Between Richardson and McKinney.

If you have it as your primary residence for 2 years, pay zero capital gains taxes.

If you have it in an LLC, S corp. you can write a lot off, and do a W2 / K1 split. (30% / 70%) I believe.

Thanks Tom,  My recent experiences is that the 70% rule doesn't work in the market at this time. Sellers are being a bit greedy.

She agrees on the 275k ARV. The rehab is definitely needed.

Will a HML lend the down, & rehab costs both?

What would be a good offer on the house?

ARV is $275k, Rehab is $50k, selling price she said to make an offer.

Is there anything specific I should add?

Good idea, but.....

I'm pretty sure that the owners just want to sell and not do anything like that.

Part of why it's cheap.

First deal, I would suggest something closer.  That's just me tho.