Too many times I get calls for a lien search from clients AFTER they have bought an HOA lienat the county auction for example and there's a big fat mortgage on the property.Do your homework, get advice, verify advice, and then do your homework again.

Just like sales where clients think you just list the property and collect a fat check at closing there is a MASSIVE amount more to PM than you might think.

That's how the banks went belly up during the 2008 bubble burst.

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.

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.

When the colleges contract, all those ancillary jobs will go with it and some of the smaller liberal arts colleges might go belly-up altogether.