My second flip has kind of been a nightmare, I have had 2 contractors walk out on me, but for the most part I have been only purchasing materials, dealing with the contractors....lets say 5-10 hours a week...I probably have 120 hours in that one and we stand to make $15,000...$7500/120=$62.50 per hourMy 3rd flip I hired a contractor I can trust and that I don't have to baby sit...I really only go over to the house 3 times a week for about 30 minutes...I have had to make 4 runs to Lowes to buy bulk orders, but that has been about it...we should make around $25k on this house and I bet I will have 60 hours in management time...$12,500/60=$200 per hour...

I currently have 2 coin OP machines in the basement- I could probably stand to get another set down there with 16 units.

However, if, as a wholesaler, you can provide real value in this area to your buyers, you will stand out above the rest... and gain a huge advantage.My student, in Jax, of all places, actually went to Home Depot and priced out stuff like counter tops, flooring, paint, appliances, fixtures, etc, etc and created a spreadsheet in excel.

Its a big trust issue and I want to keep close inventory of where the budget stands and where everything is going.

My wife & I are self employed so after a significant amount of research we went the 401K(solo) route about 7 years ago.No guardianship, total (our own bank) checkbook control, no third party involvement OR fees etc.

The worst part is that the area considered to be good and NOBODY expect such problems here.

A processor is not an underwriter and does not approve or deny your loan.Usually, this is where all the third party services are ordered such as appraisal and title commitments and closing protection letters.

ARV stands for after repair value.

If there is equity UPB is used as the baseline as that is what you stand to recover.

Even then I would be standing there when the first tread went in and if it wasnt a perfect fit, he'd be gone.