That was a few thousand dollars I was not going to gamble on even if I did have a little more wiggle room left :wink: that was still there for the surprise factor....you know, "surprise, I didn't count on that needing to be fixed" Glad I passed on it, I was watching another one slowly drop in asking price.

What you are wanting to do with it (your exit strategy) stipulates what formulas you need to use to determine what the house is worth to you and what your offer is.If you are planning on fixing up the property and reselling it on the retail market, then knowing what the After Repaired Value (ARV or what the house will sell for all fixed up) is and the estimated repairs are the two biggest factors in determining your offer.If you are renting, lease optioning, or carrying the note, knowing the fair market rent will be a huge factor in determining value.If you are wholesaling, knowing what investors will pay in that area for that type of house is essential to determine value.To figure an offer on a property, start at the end.

I think this and other factors are going to limit the opportunites in REOs.

Now, should the mrtg even be a factor in my flip as far as the end buyer is concerned?

Depending on alot of unknown factors it looks like a 25-30k rehab, size being the main factor.

I decided to slow down and got 28.5 MPG.The next morning I knew I had until 3:00 PM to get to my appointment, and only 250 miles to go, I drove 65 +/- on the entire tank and got 30 MPG, easy.Gotta go, time running out on the library's computer.all cash

So, you could set a religious schedule that looks something like this:Monday -9:00 am – 11:00 amTuesday -4:00 pm – 6:00 pmWednesday -9:00 am – 11:00 amThursday -4:00 pm – 6:00 pmFriday -9:00 am – 11:00 amThe reason you mix your days up is to reach those people who may not be home in the morning but will be home in the evening, and vice-versa.On a side note, I understand that you may have a full time job and that cold calling during these times may interfere with your work schedule.

Money is important and that's what we are in this business for but there is the human factor as well.I would recommend Bruce Norris.

Good Morning EricThank you for the welcome and a Merry Christmas back at you.I'm about to just finish my first flip.

Waking this morning, I found this letter posted (with duct tape no less) to my door, for myself and everyone else to see.