IThe detailed engineering approach from actual cost records, also called the “detailed cost approach” or “direct cost method”, uses cost information from contemporaneous construction and accounting records.

You can either continue the depreciation schedule from the property sold, and create a new fixed asset for the additional amount invested to obtain the property (Two Depreciation method), or you can opt to treat the new asset as one asset (Single Depreciation Method).

Using the enemy method, you can very quickly identify the top properties in your target market and then replicate if not improving upon their listing when you go live!

Thanks to BP, since 2020 I've acquired 7 units now worth $2.5m via the slow and steady method of house hacking combined with smart personal finance habits I've learned from BP and other within the sphere podcast like Choose FI, Afford Anything etc.

I'm not familiar with Wisconsin laws but selling or assigning a contract is only one method of wholesaling. 

Do you have a particular formula or method you rely on to make sure the numbers add up?

Trying to contact them through all methods of communication is the first step - call, text, email, knock on the door, etc.

I've done the single family method and it was too slow for me and just ate up too much time, although I learned a ton.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.