In reality, I would prefer to pay private money rates on their investment so any of the excess profits after paying out their interest earned are held by the company. how attractive that is for an investor...I don't know.

So unless you have a washer in each apartment plus over 4.7 people living in each unit, you have excessive usage.If you take the 31,600 and divide by the # of people in the building, you'll get your usage per person per quarter.

The others mentor deals have similarly interesting stories, each very different.I sense people on here think what I charged is excessive, I think its peanuts for the value recieved, and is not remotely as profitable as rehabbing if you figure out how to do it well.

Those numbers are "Guru" talking points because folks think, "How could I loose" on a second purchased at 2.5% and the answer is, you collect zero, which certainly happens often.

Are you saying that your monthly payment to the seller was $400 in excess of his/her payment to the mortgage holder (essentially what the seller is pocketing every month)?

They did it wrong.I graduated right when the bottom of the market fell out and people started loosing their jobs(December 2008).

I honestly would probably change the payment (lower it) and put it out for 4 or 5 years to earn more depreciation just to make sure I could "argue" the market value closer to that lower number at the end.But that's my buyer pool, they typically don't have excess cash.

Anything in excess of that is the true cash flow that I can put into the next property or spend or whatever.

I know I am a little late to the discussion but this is what I have my "Property Locators" looking for: FSBO signs For Rent Signs Overgrown yards Overfilled mailboxes/excessive amount of newspapers/packages Notices on front door Blue tarps on house Boarded up windows Garage sale signs/Estate sale signs Abandoned cars No curtains or blinds Inside looks emptyHope that helps @Burt L.

The great part is the reframing used the existing header and just closed in the excess window width, so inspection was simple because I didn't touch the actual structural members so he just looked at the nailing on the new studs and sheathing on the outside and it was done.After that a coat of stucco top to bottom and paint and the whole house has a different look to it now.