It's A Whole New Business by Gene Trowbridge2.

Cities and counties are trying to be "fat cats" right now and send out their assessors to pump up valuations.

Numbers on the property look like this:Purcahse Price:$143,200 Repairs: $32,944Carrying Cost: $746/month (utilities and loan payments)( carried for 2 months and counting) Total invested:$177,636 ARV: $205,000Listed at $209,950 ( on market 30 days, alot of interest and compliments but that doesnt matter because I have a big fat Zero offers) Major issue is home has a permitted garage conversion and buyers in that price range in the local market really want a garage.

Biggest downside to turnkey IMO would be the difficulty of buying a turnkey property with in-built equity.Many investors are always after some fat being left on the bone and this is hard when buying turnkey as the provider wants to make sufficient margins on the product for the services provided.Thanks and much success.

Good job Gene as I'm sure you've learned alot from this.

I would want much more fat in the deal at that price.If you can pick it up between $150,000 - $200,000, that would justify the risk IMOThere are opportunities in the Midwest where you can make $20,000 - $30,000 on wholesale deals in the $70,000 - $100,000 range.Thanks and have a great day.

I have been using 10%, 14%, and 8% and didnd think they had THAT much fat in them.

Fat forward to about 3 weeks ago.

There is a meetup the third Thursday of each month here in Bako hosted by Gene Hacker.

BPers:I am selling a house on some property with a land contract in the very near future and I am looking for an attorney in the Redmond/Seattle area that can help me.Any recommendations is appreciated,Gene