Know your pro forma well.

I don't mean to be snide, but statements like "there is less profit in low price/rent areas" would be more useful if you can tell me why there's no way I'm going to actually turn the 15-20% that the pro forma says I can.Originally posted by @Matt Rosas:I always like these type of questions because it brings out the most experienced Bpers I can learn from.

That stated, the ISO form (a standardized format that many/most policies are written on in the industry) excludes "hired workers" so anyone hired by you, whether it be a GC or a handyman needs to be properly insured on their end.

In the first example, you form a corporation in your state and make the S election.  

Our perspective is that the extent of the renovation and the "distress" of the property is all relative to our pro-forma of the property, regardless of if it's a flip or buy-n-hold.  

(For more information about assignment of contract, please refer to your training guide Step 3 and also pages 201-203 – be sure to use our Form “AGREEMENT FOR PURCHASE OF REAL ESTATE†or “ADDENDUM TO CONTRACT†appropriately). - There are several fields missing and/or incorrect in your submission form (such as Under Air Heat: and others).

Easiest thing to do is to form a relationship with an agent, possibly compensating them in some legal manner, and having them send what you need.

Like you, I want to form a networking group in my area so I plan on using the game in the group.Good luck and welcome to BPPsIf anyone close to north plainfield New Jersey wants to form a networking group please message me.

Hi Derek,I'm not sure if these are valuable for a pro-forma, but they are real world expenses on my P&L's - Office Expenses, Phone, Auto expenses, returned deposits.Jeff

Residential Income Property AnalysisProperty AssumptionsPurchase Price$110,000Down Payment$22,000Loan Term15 YearsInterest Rate4.00%Principal & Interest Payment$651Closing Costs$0Gross Scheduled Income (GSI)$18,000Vacancy Rate7.00%Number of Units1Pro-forma Income Statement & Cash FlowGross Scheduled Income (GSI)$18,000Less Vacancy$1,260Total Actual Annual Income$16,740Other Income (Laundry, Late Fees, etc.)$0Gross Operating Income (GOI)$16,740Annual Opertating ExpensesAccounting$300Admin/Bank Charges$0Advertising$0Electricity$0Elevator$0Gas$0Landscaping$0Legal$200Maintenance & Repair$2,000Payroll taxes$0Permits and licenses$0Pest control$0Pool$0Property Insurance$440Property Management$0Real Estate Taxes$3,850Security$0Telephone$0undefined$0Tenant buyout$0Trash$0Water$0Other$0Other$0Total Operating Expenses$6,790Net Operating Income (NOI)$9,950Annual Debt Service (mortgage payments)$7,811Before Tax Cash Flows (BTCF)$2,139Key Operating RatiosCapitalization Rate9.05%Cash on Cash (COC)9.72%Gross Rent Mulitplier (GRM)6.11Net Income Mulitplier (NIM)11.06Debt Coverage Ratio (DCR)1.27Expense Ratio (ER) Per Unit40.56%Price Per Unit$110,000Here is a link to the property:https://ithaca.craigslist.org/reo/4827978957.html