You just need to be careful you are not underinsured and the best way to do that is by paying for a "replacement cost" or "cost approach" appraisal.

I'd take the approach of being just a buyer, ask about the terms, leave the option open for you to live in the place and see if that makes a difference to them.

The theories advocate a 3 hat approach to business, Entrepreneur, Manager, Worker; each with their own priorities and responsibilities.

HomePath accepts at least up to a 3% sellers credit, so you could have not only lowered your net purchase price, but brought 3% CASH to the table - to cover your closing costs (or consider it a 12% downpayment..)

It comes very close to the 24% gross annual return (2% guideline) using the higher repair and lower rent figures.The 50% guideline you brought up is to make an owner aware that 50% of those gross rents you collect each month will flow back out in the form of various expenses (taxes, property management, repairs, replacements, legal, vacancy).

Any other approaches that you guys can recommend?

I'm not advocating any kind of get rich quick strategy, just a way that I think is a better approach to accomplishing REI goals.

I love your approach (of course, I'm biased) and wish you the best!

I am looking at a flip where the sellers owes 82k(7k over my comfort zone ) @ a rate of 6.5.

They are open for any terms i layout. That' said, rather than tie up traditional bank funds I can use for other de...

We did not borrow a dime to complete the project, we knew how we wanted to approach this project and thus far it has worked out to plan.