@@Jeff Rabinowitz and @@Roy N.

Thank you @Roy N., @Brandon Battle for your inputs.Do you know if there are certain words or languages that you're not supposed to use in talking to owners in foreclosure so you don't face legal issues?

Originally posted by @Dustin N.

N

@Roy N. - great suggestion.

I wanted to share it for anyone who is new to the business, veterans who are cutting corners doing minimal work for the highest price & anyone who questions the importance of hiring competent GC to complete the work.Take a look at the following article which describes a couple who completed several Fix n Flips through out the years and were sued by there previous buyers for a total $1.3M.http://www.remodeling.hw.net/newsletter/couple-to-pay-over-1-million-over-shoddy-house-flipping-and-renovation-claims-in-dc_c

My wife n I can split 4000 a piece but we will never stop investing

@Andy N.

Purchase Price: $250,000Closing Costs: $2,500Repairs: N/A (Turnkey)Expense/Income/Prop Value Increase: 2% increase/yearMonthly Income (Rent): $2,600 Assumed Cap Rate: 9%Total Monthly Expenses (Including PIMI): $2,028 - Mortgage: $955 (assumed 30 year/4.0%)  - Taxes: $415 - Vacancy (5%): $130 - CapEx (5%): $130 - Insurance: $100 - Repairs (10%): $260 - Water/Sewer Bill: $38Assumed Monthly Cash Flow: $570/monthCash/Cash ROI Year 1: 13.05% Total Return Year 1: 14.81%Thank you in advance for taking the time to answer my questions!

Ive' even gone as far n some cases as having a notary come in and we all sign together and update the contract with new signatures.