On Sunday-  buy one bottle of beer or go to Taco Bell.  7.  

Your clients should focus on properties with significant equity potential and work with experienced contractors to stay within budget and timeline—especially with borrowed funds on the line.Avoiding Bad Deals - Encourage them to work with experienced agents, contractors, or mentors and always run multiple scenarios, including worst-case outcomes, to stress-test their numbers.Reserves - Advise your clients to keep a reserve fund separate from their loan for emergencies, unexpected expenses, or delays.

Just starting out and testing waters for BRRR in Chicagoland area.Any advice or suggestions regarding this?

Often times someone passes their NMLS test, hangs their license, does a few Fannie/Freddie deals, then tries to get into investor lending.

I don't have personal experience with it, but when the app was first developed, I contacted the developer and put the app through a fairly robust test usage to see if it's something I would want to recommend to my clients (I'm a CPA).I think the app is great for its intended purpose and I do recommend it to my clients now (and have for about 18 months now). 

And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

It WILL always be like smashing through a wall with your head as fists as the hammer, you will "get bloody", it will hurt, it will exhaust you, it will test you to your breaking point and beyond.

.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

He used https://www.dealmachine.com/ interesting we are researching different sites right now and are testing propertyradar.

The guru of that particular year will create some secret variation to a time-tested list of tactics that is the flavor of the weak and pretend like this is some new secret invention, perhaps inventing new language to describe tactics that have been around for years. - In the unlikely event that you get a lead, A "motivated seller" who will work with an 18 year old to sell their home, is likely someone dealing with death, disease, divorce, or disaster.