I use this to initially screen properties in areas with demographics similar to the one you chose.a $42,000 price assuming no rehab should through off at least 2% in rent for me to be interested. that translates to 840 a month in rent and that exceeds even zillows estimate of 700 max. the most this property could sell for for me to go any further would be 35,000 before it got my attention.If it could be had for 35k that and could be expected to gross 700 a month then the 50% rule says I should net 350 a month after taxes ,insurance, vacancy contingency, property management and maintenance.

This may include a second appraisal and/or a full FHA field inspection.What This Currently Means in Real LifeNow that I clarified the FHA rules, let me explain how this translates into real life for flippers:- While FHA will allow quick resales (as soon as you want), not all banks that do FHA loans will do them in the first 90 days.

I mistakenly assumed that he was a professional that I hired to represent me, specifically to translate a document I created.

I would recommend finding an accountant you are going to use and work with them to come up with a system that will translate to theirs easily.

So, the fact that the wholesaler is making a lot of money on the deal altered your perception of the deal, correct?

Good point, this can translate into any type of RE investment vehicle, not just MHP's.

Specifically, I was lucky that I was born a white male in the United States in a time of unprecedented prosperity and technical advancement; I was lucky to get out of college during the technology bubble and to join a couple companies that provided a lot of compensation in the form of stock options; I was really lucky that a ten came on the turn when I most needed it to; I was lucky that I was able to get on an earlier flight than the one I had booked; there are a million reasons why I was able to take the skills I had and translate it into a good bit of money...but, a decent amount of it was simply luck.- Btw, I'm hoping to be able to make real estate the third industry where I can make over $1M.

I agree with John that the investment strategy may need to be altered slightly depending on where you are investing.

I typically rehab and flip lower end ($50K-$70K) houses, several of my buyers speak almost no english (heck that's why "google" has free translations) but always pay on time and those houses pay like the devil!

It seems that most of your first 6 posts have all been some kind of business proposal or advertisement for your services.While we welcome people to do business on the site, we also ask that new members refrain from doing so until they have reached a minimum of 10 posts where they have contributed to the overall conversation (help others out, etc.).That said, if you are legitimately interested in doing business with the members of this forum, please review our forum rules and participate.NOTE - Several of your posts have been altered or removed to comply with our rules, and your signature has been removed as well.