A 5% rent increase is not going to cover the 37% increase in heating oil this coming heating season.

I also love horses, art - particularily oil paintings, camping and spending time with with my fiancee!

Property Cost $200,000.00 Repairs Needed $50,000.00 Number Of Units 10 AVG Rent Per Unit $475.00 Gross Schedule Income $4,750.00 Vacancy Allowance 10% $475.00 Gross Operating Income $4,275.00 Less Operating Expenses Accounting $25.00 0.58% Advertising 0.00% Insurance $125.00 2.92% Lawn / Snow $- 0.00% Repairs $85.50 2.00% **Since i guess high for repairs, i lowered this down to 2% Monthly Taxes $458.33 10.72% *** Renter pays Utilities Electric $- 0.00% Gas $- 0.00% Fuel Oil $- 0.00% Water / waste $- 0.00% Total Operating Expense $693.83 16.23% Net Operating Income $- 0.00% Property Cost With Repairs $250,000.00 25% Down $62,500.00 Additional Cash Down $- Remaining Balance $187,500.00 Gross Operating Income $4,275.00 Monthly Mortgage $1,875.00 Total Operating Expense $693.83 Monthly Profit $1,706.17 36% profit My formula always shoots higher on the cost to protect me.

A few years ago a CPA TOLD me that I better sell my oil stock; it was way down.

Huge meetings just don't do that much for me and the last smaller group I attended was a bunch of bookworm/no-do types led my a snake-oil saleswoman :)Call me a bit disenfranchised with our local groups at the moment.

I grew up in Queens and have a lot of friends investing around the city . . . . tell us a little more about what's cooking.

Theres alot of influence of oil and value of the dollar, oil demand is down for the first time in decades which I believe will influence the dollar greatly.

.- Install added insulation (attic, basement ceilings, ect)- Install Energy Star appliances- Convert oil furnaces to gas if possible.- Upgrade furnace to high-efficiency unit (90+ rating)- Convert oil water heater to gas if possible.- Recycle: demo, paper towels, drink bottles, ect.- Replace the toilet (old toilets use a lot more water!)

Wholesaling for Quick Cash, Version 2.0
by Steve Cook

Anyone ever looked at this?

Jere

I am just so po'd at this debacle that I went on a rant.Thanks,Scott Cook