Purchase price: $2,400,000 Sold a single-family home and did a 1031-exchange into a 5-unit building at a cheaper price.

We still see positive cash flowing deals here with appreciation potential at really affordable price points. 

I could be way off, but I really don't think you can buy homes at the tax sale in most circumstances with $100-$200,000 spreads between purchase and sales price. 

Remember, confidence grows with each step, so take action and keep moving forward!

Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

Steps: you go under contact with the owner of the property, you assign the purchase and sale agreement to the end buyer, the end buyer closes, and you get paid the difference between the agreed-upon price between you and the owner and the intended purchase price of the end buyer. 

What's the purchase price? 

I believe now is a peak of the prices there.

Quote from @Austin Clarence: Hi Aaaron-WIth DSCR lending you can see a massive spread in pricing and fees.

However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max).