but I guess that's part of the gamble.

I know you're not supposed to gamble on future appreciation, but there are barely any houses available in this price range, the location could not be much better, and the yard is fenced and large.

lol, it's a gamble and I'm very nervous about how it will turn out for me.

deals 7 and 8 had a partner - he found the home, I fixed it up, managed the rehab, he sold it, we split the net profit...these were ok deals we split $20,000 on each deal but they took 5 months and 9 months respectively due to issues with contractors doing shoddy work....so if you figure our profit at an hourly rate these were not barn burners...but hey it's $20,000 I didn't have before, so I am fine with that#8 paid $265K used hard money, spent ZERO on rehab, wholesaled it in 12 days for $360,000, that was a nice one (sad back story on this one, owner of the property was busted for selling drugs and arrested, then deported to Mexico, so wife took over the drug selling biz...then she got popped, in order for me to be able to close on the home, Escrow had to go to the jail to have the wife sign, then hire a mobile notary to drive down to the SD/Mexico border to have the husband sign) death, divorce, drugs, disease....the 4 D's that create real estate opportunities, sad but true#9 paid $205K used hard money, spent $25K on rehab, sold for $300,000#10 paid $90K for 3/2 SFR, used hard money, spent $3500 on rehab, rented out for $800/month, slight negative cashflow currently (-$150/month), market value is $130K now, plan on refinancing into better loan in 3 months, will cashflow $300/month after the refi#11 paid $108K for 3/1 SFR used hard money, spent $3000 on rehab, rented out for $850/month, slight negative cashflow currently (-$190/month, market value is $140,000 now, plan on refi into better loan in 3 months, will cashflow $150-$200 after the refi#12 paid $125,000 for 4/2 SFR used hard money, spent $0 on rehab, house already had a tenant in it paying $900/month, will be raising rent to $1150/month, market value is $160,000, plan on refi into better loan in 3 months, will cashflow approx. $500/month after the refi#13 invested $50,000 with my parents to buy a triplex, for $530,000, property cashflows $1000/month from day one, and value has increased to $650,000--------------------------------in current pipeline/in escrow - thru these deals I've made good friends and I've made my hard money lender some good money, hard money lender let me know he has $5,000,000 +/- sitting in the bank looking for houses to invest in, and he's given me the green light.

Hi @Gary Parker Regardless of how you buy, if you sell on terms as an Investor, and you have a due on sale clause with an existing commercial loan, you will have that to gamble with.

Flipping is a gamble.

I know, it's a huge fumble but one that I undertook as a gamble and I lost.2) I requested the original lease from the owner, at least twice and he either couldn't or didn't want to supply them.

Find someone that comes highly recommended from a friend, family, real estate agent, etc who charges a fair price and you will have a sucessful project anything less and you are gambling.

You aren't buying rental property.You are buying speculation property.Anytime the cost exceeds the rents coming in,you are gambling on gains on property for profit(which i think is insane)Speculation is dangerous

I put a roof on the house and a new sewer line (about another $3,000), and carried the note to the tenant for $400 a month for 30 years.Both of these houses were in border line war zone areas.As for multi-dwellings the lowest I've gotten down to is $7,000 per unit.