All Forum Posts by: Richard Jeffries

I've found that the 70% rule generally applies to middle market (where most investors operate). Smaller the ARV larger your margins need to be, conversely the larger your deal the tigher your margins can be. Being a wholesaler if I were you I would stick to my conservative numbers around 70%. Main reason being when your greater than 70% you limit your outs in which you could get your cash back out. Most commercial lenders won't refinance more than 70%.

Great solution, and it turned out great

Hey Marlena, 

Sounds like he might be looking for either private or hard money. PM me and we can discuss his property and possible options for him.

How are you estimating your timeframe because it seems pretty long for all three scenarios. Also it doesn't look like you're factoring holding cost into your calculations 

Welcome to BP Jarrel. You'll find a lot of useful information in the resources and learn tab. There are some sample contract on under resources and forms. You can take those to a real estate attorney as a template and if you want to add any other clauses they can go from there

So it all depends on the number when it comes to finding a good deal. Not every short sale or foreclosure is a good deal. You have to evaluate a ton of deals to find the killer ones that you're looking for but it all boils down to you numbers. Only way to find them is to analyze a ton of deals. Great ones are out there.

Welcome to BP Steve. What you're trying to achieve sounds pretty interesting. I'm curious to see your methods. Feel free to shoot me an email or a PM.

Thanks and best of luck

Hey Devon,

Welcome to BP first and foremost. You definitely came to the right place. There are tons of resources available on the site for both new and seasoned investors alike. As far as your niche is concerned it should align with what you have to offer and what you want out of real estate investing. Answer those and you can start narrowing it down.

I think it's more so that the buyers can add a personal touch to there new home. Rehabber's would give options and have the hardware installed before homeowners move in. Not something that I do, but I think it could be for a higher price point

My broker is pretty good and he works across the country. PM me and I can get you his info.