Be conservative with your gains and liberal in perceived expenses.

It's easy pickings to get riled up about the "scammers" that you perceive to be faking illness or getting over, but the true drain to our tax dollars and wasteful spending is happening far, far above them in our political system, government and military spending, and tax advantages to corporations and the extremely wealthy. 

But surprisingly, I still received lots of calls from motivated sellers after receiving my yellow letters.The wording you use is EXTREMELY important and I think if you're honest with people and show that you're actually out to treat them fairly and not cheat them, they respond favorably.But I did almost give up my license over my "perceived" dilemma until I figured out the best way to approach potential deals ethically and with integrity.Good luck Anna!

Your perceived problem is that you can't get a contractor to quote you a cost that you think you should be quoted. 

The economic definition varies from market to market, but within each market the asset is ultimately characterized by "quality" - we are not talking about pigs here.Well, something happens when we look at quality assets - they retain perceived value within the marketplace, and they have better chance to grow in price over time, resulting in equity.Thus, by definition, in order to achieve the type of stability in CF that we all want, we must focus our energies on appreciating assets.

Finally, your willingness to take risks and break norms is often perceived as a threat, even if just subconsciously, which may explain the negativity or even hostility sometimes from people close to us.Your best bet is to ignore the naysayers and move forward, assuming you do your homework and are willing to honestly re-evaluate your situation from time to time and be open to constructive feedback from experienced individuals.

You have to make deals that make sense to you first and foremost - if your numbers indicate that the purchase price plus repairs is going have too thin of a profit margin or even no profit at all... then you have to back away from it - regardless of any perceived "bad feelings"  because you are going to feel a lot worse when you're staring at your mortgage statement and you can't pay it because the property isn't producing the income it needs to.

Price/cap rate is base on various parameters that include perceived risk, return, effort, etc.  

Having said that, I am curious as to your reasoning on moving forward with a deal that was already at 83% of ARV to begin with, especially considering the added risk (perceived or otherwise) of doing it remotely?  

You sat here lecturing him on what you perceived his comments as and painting a picture of someone you don’t know while me as another Black man had absolutely no issues with it 🤷🏿‍♂️Anywho, I’m done with this conversation just wanted to give my input as I saw the thread was turned and taken over by BS.