So, for me my formula is this:  1) Find a mentor and JV with them  2) Keep learning the world of notes - follow Scott Carson if NPN are your thing 3) Network, network, network. 

Im a new wholesaler and get really frustrated when I use the formula/wholesale fee.

I understand that most banks like to use this formula: (Value of home - amount owed) .8I have enough equity in the home to where 80% of the difference in value minus balance is sufficient to fund my construction project. 

David Song I wouldn't be surprised .. but these big jumps in price can't be sustainable forever .When do you believe there will be a downturn in the Bay Area?

Hi Sean,Here's your cheat sheet, page 2.When it says 85 bps, which is >90% of scenarios, you can do this formula to get within a few dollars a month:[ Loan amount * 0.85% / 12 = monthly MIP ]Your effective interest rate is 0.85% higher than your nominal note interest rate.

But, if you were to use those Direct Mail companies like yellowletters:Handwriten style font on Yellow letter with envelope and stamp = $.79Input this value into the above formula$.79 x 600 = $474474 x 12 = $5,688Conclusion, you are paying $1,326.96 ($5,688 - $4,361.04) more for Direct Mailing companies than mailing it yourself. 

When following that formula it might seem that you do less deals but in reality you do MORE deals because your money lasts longer.

., @Cody Evans, @Jonny Cerri, @Henry Chen, @Henry Chi, @Chunyan Song, @David Glenn, Duy, VietAiThanks all who showed up today.

Is there a standard, by-the-book formula most use?

I just use a simple formula for utilities/mortgage.