He would then maximize profits by building the houses in China and then shipping them here combined with a massive marketing campaign to convince the public that not only are his houses pretty nice, but they make you a little hipper than what you once were.

You are correct in your understanding regarding listing a property for sale and capability of refinance.

You are giving away the ship, imo.

Hey everyone,With the mentor-ship I'm receiving from Will, I feel so close to breaking into rehabbing.

When you look at a property you will be seeking a discount from the retail value of the home in order to bring the home current in the market place and thus makes it capable for the home to capture a higher percent of the retail value in the normal marketing time.I like this analogy, where retail value is a glass of water.

If not with increased management fee you are looking closer to 60% to 65% cost and not 50% annually.Tenants not directly billed bu the water authority use about 30 to 35% more water monthly and do not report water leaks.If the tenants are not paying then you will have months of lost rent,damage to the units,and reconditioning costs.You need to pay close attention to the EXISTING tenant base going in.Run your own checks on them.The existing landlord might have just filled the building up to dump off crap tenants on someone else.The fact that this property has changed hands so frequently leads me to believe it has serious problems.People get think they get a deal and then want to jump off the burning ship quick before going down.Check title history chain and see if you can locate previous owners,their attorney etc. on documents.You can also look up if a previous corp bought it and the controlling officers.

They will be able to walk you through setup and structure as there are many other concepts to deal with such as survivor-ship if one party passes or how a party can be bought out, etc.

The reason I ask is by your post you do not know what financing is out there and what you could or could not afford.If you have the capability today it might be smart to lock in at least one property while caps are good and terms and amort. is great.

It would be like me buying GE at $30 a few years back, then being told I am forced to sell at $15 tomorrow even though I am fully capable of holding it, no margin call or other issue, just somebody forcing me to sell for no reason, even though it might be $40 again in 2 years.

Overnight shipping (FedEx or USPS) can be used for those, and likewise for keys if as Ned Carey mentioned no neighbor has a set.