PM is typically an 8% gross rents business PLUS 'fees' and that's the trap - -nickel & dime you to death.

Independence MO is the first city in the Metro to propose this ordinace and if it passes, will move on to other metro cities. We understand KCMO is next.SEE YOUR ATTACHMENT: THE CITY DETAILED PLAN .YOU NEED TO SHOW ...

Its very hard to pull off i tried doing tax sale overages in Georgia and didnt make a dime. i wouldnt recomend it.

It also allows you to calculate to the dime your debt service costs based on your estimated hold time.Building buyers lists as a wholesaler is also portent but keep in mind bigger dies not mean better.

Good contractors can be hard to find.Here is my advice.I have had great luck finding them at our local real estate investor meet up group.I agree building supply centres can also be a good source.In my experience it is easier to find people to do a big job, rather than small ones.What I have done is formed relationships, where I give them a good big contract and in return they do the small stuff for me.I also have a couple of handyman type people on my team.They are usually doing repairs on the side, often for cash under the table.I only trust the small guys with minor stuff, maybe laying a floor, or replacing a toilet.The key is to build a solid team, do not nickel and dime them, pay them as soon as the work is done.Build a win win situation.

Easy: Mislead the seller with bogus clauses such as 1. subject to partner approval (your partner can be your dog)2. subject to 60 day inspection  (they are tied up doing lots of inspections)3. subject to financing (just be sure and don't try and get it)If you use enough weasel clauses you won't lose a dime, will have raised the sellers hopes, taken the property off the market leaving REAL HONEST POTENTIAL BUYERS behind, and started developing a reputation (maybe not a good one).

She hasn't paid you a dime and she doesn't even live in your state?

Let her keep it listed for 6 months and not make a dime, when if she would have been cordial to you on the phone, she might have gotten paid on the deal.

I check them out before I give them a dime.3. good collateral.

In this case, you'll split a profit of about $39k or 9.6% of the ARV.Either way, I strongly suggest you learn how to evaluate a flip, including all expenses (which the BP spreadsheet misses), not overpay, and not try to borrow every last dime.