One perk with these companies is that they often extend the lease as construction timelines are notoriously difficult to estimate.

. - Expect rehab costs to exceed initial estimates (maybe double)!

Run an estimate for $175k refinance cash out on a 30 year and you may still be able to make 250 cash flow and have 100k to reinvest to buy more real estate.

We will evaluate their portfolio, estimating the purchase price and current value of every deal they've done from the beginning of time.

Most have never done a single deal, have no money to close on the property if needed and have no clue how to estimate fair market value or ARV or sell a property.  

This means, you will either over purchase the system (too many panels, batteries, etc) or under estimate, both making the outcome not optimal. 

But…the plumber should send picture of problem with an estimate to PM.

Online Facebook groups can be fruitfulOnce you find a property things tend to move fast so have a good contractor available to help you estimate repairs. 

The estimated rehab budget is approximately $40,000.

If your market has a significant number of FHA or VA loans with zero to low down payments where a buyer can't afford to pay their agent out of pocket, your sellers may end up cutting off a significant portion of the home buying market, or once they do come around to considering negotiating on BAC, they may feel deceived, and now you may lose the potential for the recurring client that will ultimately otherwise drive your seller lead acquisition cost down.For planning: In a great business, a good rule of thumb is to estimate:100% Gross Income35% Cost of Sale30% Expenses35% Profit <-- very few businesses achieve this, but we're looking at an ideal solutionAssuming a national price average of $300k and 0.6% GCI, you'd be looking at:$1,800 Gross Income$630 Cost of Sale <-- agents/ transaction coordinators$540 Expenses <-- photos/ signs/ lockboxes/ Errors & Omissions insurance/ MLS fees/ liability insurance/ tech fees/ VA admin support/ marketing to get clients for the business (this piece should be roughly 10% of revenue, which would be $54 in this case)$630k ProfitIf your business sold 1,000 of these homes a year, you would have:$1,800,000 Gross Income$630k Cost of Sale <-- agents/ transaction coordinators (you could have 5 agents handling 200 sales each at $100k incomes and TC support at scale)$540k Expenses <-- photos/ signs/ lockboxes/ Errors & Omissions insurance/ MLS fees/ liability insurance/ tech fees/ VA admin support/ marketing to get clients for the business (you're going to est $125k in runner fees alone for signs; $25k+ in signs, $54k in ads to attract clients, $200k in photos, $10-20k minimum in E&O, $2k in liability, and what tech/ VA support)$630k Profit Scale costs will include hiring a managing broker for compliance to help oversee all of these transactions and implement legal changes and training.