We closed the deal within 60 to 75 days, walking away with just under $100,000 in net profit after all expenses.

I actually know one, she gets homes on MLS at 1/3 of ARV (really FUBAR homes), spends another 1/3 on rehabbing and then sells for retail to profit.  

A separation of the property and the personal also allows scaling into more properties as each new property stands on its own for evaluation.Cons: higher rates and costs compared to conventional (although still should be reasonable and allow for a profitable deal, i.e. if rates are too high, the rent won't cover the financing costs so the rates have to be sensible and proportionate...)

22% CoC ReturnCash Invested $230K  You made $50,600 in returnBut the sale price is $275KThe math isn't adding up.If you take $275K less that take home profit of $50600.

Negotiation Skills: Whether it’s negotiating leases, handling vendor contracts, or resolving disputes, strong negotiation skills can make a significant difference in operational efficiency and cost savings.In my experience, a property manager who excels in these areas not only helps protect your investment but also maximizes its profitability.

We have a very simple proprietary profit/cost calculator for fix and flips.

We didn’t even get close to where we needed to be to be profitable and closed down after a large financial loss just 2 years later.

And without a solid budget, you are even less likely to get a lender to sign off on the deal.The best way for many to get started is to find a friend or family member that has money and can invest in the deal for the lion share of the profits.  

He is a family friend and we have even looked at some off market for sale by seller too that I identified stuff where he wouldn’t even earn a commission and he was happy to investigate for me - more of a looking out for me / family than counting a check (I am not looking for expensive real estate and he has owns the brokerage of 20+ agents, unfortunately my purchase isn’t much of a profit opportunity for the office but would probably be more embarrassing on him if we get something wrong  😂) Noted on the inspection though and I will stipulate it is a deal breaker on my side.

We have had good luck doing 15-20% profit on ARV in other markets.So if purchasing at the full $500,000.00 we'd be looking for a $700k sale price.