Both approaches fail because they forget the most important part of the deal: EMOTIONS.

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

More importantly, does anyone have an outlet that will appraise the property off of an income-based approach appraisal and not sales comparisons?

I did find this deal driving driving for dollars, the realtor of the property was adding his sign in the front yard, I approached to make and offer. we close in 3 weeks.

That approach involves a lot of work and spending, and there are better strategies to utilize.

There sure are fast track approaches to this but really depends on strategy. 

I am new to creative financing and don’t exactly know the ins and outs of what would be the best way to approach this.

Quote from @Jason Baker: After leaving the real estate market in 2024 and bringing in the new year of 2025, what are the best updated strategies/approaches to be a successful wholesaler in the Miami Market?  

I’m considering countering with a price closer to the market value, but I’m curious how others approach deals like this.Looking forward to hearing your thoughts!

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.