I guess I have two conflicting opinions on what is happening in this industry:First, having worked with many small business owners over the years, it's my opinion that the vast majority of the small businesses that fail, do so because of a lack of business/marketing planning.

I guess when things sound too good to be true, they usually are.

I guess most of the time the investor would be buying it and they would only use the loan if they couldn't find a buyer.Are the banks willing to wait around while you search for a buyer once you have it under contract?

will need some renovation I know this is vague and a property has to be looked at so a guesstumation (my made up word, meaning I guess the price could be...smile) would be appreciated.This is the property:Size24,000Price0TypeDevelopmentlocation NYCDescription24,000 SF Development Site (240' X 100'), Includes Loft Warehouse, 80' X 100' Vacant Lot & 3 Townhouses, Total Buildings Size 46,010 SF, R6 Zoning, $30,086 Taxes.

"drop the ARV by 2-3% for every month you plan on holding the property"So I guess you DO agree with me.

My blind guess is that you purchased at 87.72% to 92.60% of the Current LP, depending on whether the home was on the market for 4 months or 5 months.57K @ 87.72% = 50K --> 4 months on market54K @ 92.60% = 50K --> 5 months on marketAm I close?

Guess they don't understand "RESULTS NOT TYPICAL" or "RESULTS MAY VARY" in the fine print on the screen.HA!

There is a natural tendency to explain in a specific context the full spectrum.John CoreyJohn Corey

Guess I was looking for some quick formula.

I guess it is the old "location, location, location" principle!