finally, got an offer accepted now at $50k under the market, have only 4-5k repairs and interior design to put in it, and resell within 1-6 months is my goal!

Hi, I’m very new to real estate investing and just getting my sea legs. I’m in rather a sad and precarious position at the moment and wanted to connect with the community for some sage advice.

My partner’s grandmothe...

What kind of short term funding are they using to buy the pools before they resell most of it?

Then you would need about 900k plus cash to invest.If you keep recycling some of the capital instead of holding in one or two investments then you could take 1 or 2 of so many properties and hold while reselling others.I have clients that own commercial properties but they might be worth 5, 10 million bucks etc. so they can put down 1 million  on something and be happy about 6 or 7%.Starting out most investors take on headache type SFR residential and other properties because they need to make bigger pops off of less money to start with.On having a car yes they can depreciate.

I know the desire to get the real estate is strong becasue that is what most people coming into this space are comfortable with, but what I have found after purchasing around 200 NPLs is that there is a great profit to be made from turning assets in RPLs and then reselling them.  

Not every investor is qualified (or has the time or inclination) to take over a property if the note defaults, and they have to foreclose, fix it up, resell the property etc..

I didn't put high end finishes on it, but we did put some decent upgrades in it (with the mindset of resell value, etc.)The home requires very minimal landscaping/outdoor upkeep, while still being a SFH, which is one thing we really liked.

We mark it up and resell for profit.We are the owners and not representing anyone, so we can certainly turn around and resell.

Yes I mean buy one get one.The BOGO is a bit misleading because he essentially plans to buy one house for around $50,000 renovate for a bit more, and resell at $100,000 or maybe slightly more.

I believe the problems occur when due to the availability of low cost inventory inexperienced resellers as well as investors make poor decisions.