Let's say you split the cost of furniture over a 12 month period amortization rate.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You're not making money. 

I set my rent standards a little high and realized that rent is actually not that high.. we have a morgage on it and it looks like the house is selling for more than we originally paid 4 years ago.

The mechanics of the transaction were actually very involved and some of the most intricate and detailed of any transaction I've been a part of, however the results were worth the effort.

I know that RTR positions themselves as “turnkey” but the reality is that they are more of a hybrid model - they set you up with everything you need and facilitate relationships with lenders, insurance, property managers, and so forth - but they are not the actual service providers.

Here in Denver we actually have a restaurant depo where you can get papertowels, utensils, etc. in bulk.

Im currently in the process of getting it rolled into an actual mortgage since these are rentals.

Stop investing time in workshop, and actually go out and look and work for deals.

In Dayton, I find most of my clients like A/B class 1-4 units because they can actually cash flow AND be in great areas.

The 90% they are paying you back is probably 1/3 of what they're actually making by you committing to a deal.

My question is: when wholesaling, after finding a great deal, do you need real proof of funds to the get the property under contact or is there a way to get it under contract, find a buyer and complete a double closing/assign the right to sell without actually having the cash for the property?