First purchases often exceed 10%, and there are plenty of people doing better than me at 35%.

Doesn’t seem like a big deal to me at all actually seems pretty reasonable.

if the deal has that much meat on it, you should be able to find a buyer pretty easily. best of luck!

Well yes, it is for the rehab when I purchase, but its mostly profit when I sell.It took me at least 10 years to get someone to lend me money out of their pocket or retirement.

They promised to turn the pictures around into a listing by Monday night, and I know that's ultimately the best they could have done under the new circumstances.I guess where I was frustrated was knowing they took 4 days to get the turn quote out to me at the beginning of the month, forgot to schedule the picture guy this week, and then just had a very "oh well" attitude about it.

There's meat on the bone for everyone.I'm afraid if I did come across an off market deal, I couldn't legally pass it to other agents?

@Paul GiblinIf you want to minimize your risk you should consider a 3-4 unit because your monthly cash flow will be greater than a SFH.If you buy right you can have 1 unit's rent almost cover PITI which eases my mind especially in these difficult times.Couple a 3-4 unit with section 8 vouchers and you are really cooking with heat as HUD pays rent directly into your bank account on the 1st of every month which also reduces your risk.For example I manage a 3 flat on West side and PITI with h20 and electric of $1400 a month that pulls in n $1328 and $1330 completely paid by HUD, and then another unit which pays $1325 totally paid for by SSI, so basically rent is guaranteed unless US government stops paying which inho is highly unlikely.If you add up all 3 rents it is $3983-$1400 PITI minus expenses (not including repairs capex or vacancy) there is still $2583 for cash flow minus repairs, capex and vacancy which I UW as 5% each for repairs and capex and+10% for vacancy which leaves $2066 for cf each month.I can sleep at night knowing that as long as I am competent enough to at least have one unit rented I can basically cover my monthly PITI.This strategy might not work for everyone but it works for me.Bottom line-you need to find out what niche you are comfortable with now and then take action.Your strategy may change with experience and time, but it is important to get started.Hope that helps.

If you are interested, you'll need to call me at the phone number below. 

There is so much meat on that deal that you could use hard money. 

The entire model is different.It is harder to wholesale flips as you need more meat left on the bone to sell a flip house to a flipper and still get your fee out of it while it still has to make sense to the flipper.Cost of reapirs,Holding costsLender costsInterestsAgent fees (after you sell it)InsuranceUtilitiesCarrying costsPermitsetc. etc.You need to put everything down.This is why I am fiercely against the 70% rule or ANY rule for that matter.You follow these rules and YOU WILL FAIL I promise you this.