Do you owe them interest on that money?

Hi @Rita SamaddarI recommend areas based on three things:Budget: Knowing your cash to close helps me suggest the best areas, especially if you're using a hard money loan.Rehab Level: Whether you prefer low or major rehab impacts the neighborhoods I'll recommend.Market Dynamics: Areas with minimal days on market are ideal, as they predict how quickly your property will sell post-rehab.In conclusion, start with how much you have to work with and the level of rehab you're comfortable with to find the best areas for fix and flip.

If you are able to succeed at this, you could make a lot of money in 10-12 after holding these properties.The formula is simple.

We agreed on a purchase price of 105,000, got all agreements signed, but no mention of rent increase, or warehouse money in the agreements (shame on me, shame on them).The leases came due between me viewing the property 6/1 and accepted purchase agreement 6/26, I saw the updated leases when the lender was wanting them, and noticed the brothers lease stayed at 700 while the other was bumped to $800.

Purchase price: $146,000 Cash invested: $42,100 Bought through hard money.

They will probably file a memorandum that prevents you from selling without giving them a substantial amount of money.

Have you considered using the BRRRR method, and kicking off things with a hard money loan?

When I said I get a 12% cash on cash return in Brandon, that's my net cash after paying property management, taxes and Insurance, mortgage AND putting money aside for a maintenance + Capex reserve.

Talk to a bank and see how much money you can borrow.

Market fluctuations, maintenance costs, and the complexities of managing tenants are aspects that require careful consideration and planning.