@David Song YES, you are correct.

HI VincentI would change my mindset around rejection knowing that is where the money is.Tom Hopkins Champion Formula on Page 110-119 in his book Mastering the Art of Selling explainsThen obviously, i would be ACTIVE, CONSISTENTLY in making new contacts, making offers, asking for referrals, follow up etc using a platform with leverage andd duplication like REAL ESTATE INVESTING

@Noah McPherson you manage BRRR financing the right way by paying cash for the asset, doing the rehab in cash and taking out a loan after.Far to many things can go wrong on a BRRR for a high interest rate HML.If you don’t have the cash to BRRR, buy a low risk double… wait 7-10 years, refinance, take a HELOC and BRRR with your own money.Tried and true formula to safe wealth building.

Ideally you will be looking for a similar property and square footage (if the house you are looking to buy is a ranch of 1,000 sq.ft you want to find a similar ranch house that just sold and you can use that sale price as your comp to determine the ARV.The other important number on the 70% formula is the rehab budget (repairs).

Yes, it would make sense to do it that way and I appreciate the formula you explained if I'm trying to market it to investors.

The smart combination of buying at a discount, adding value, and then using leverage once the asset is performing to pull equity and launch the next project is just a very good formula when executed well.Be sure to start by reaching out to non-recourse lenders to learn about their programs. 

Excel has a very formula to get it done quickly as long as you have cash returns for each year and amount invested handy.You really can't calculate IRR until everything is said and done.

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

That said, back to the matter at hand, the specific questions I asked are:1) Did I use the correct formula and is my math right on the offer price?

Hi I have a potential deal on the table whereas I'm going to be making an offer to a seller who has tenants or a tenant;  what is the formula I should use to come up with the numbers to offer the seller?