I am extremely distrustful of the company's motives and would not do further business with them as a result.

Ya, it's true that if you could just buy, rent out and hold for profit you'd overtime be extremely wealthy.

If you were in an area with extremely high appreciation, it might be worth considering (not likely, though) holding on.

I am sure there will be others chiming in on this also..keep in mind now that if you plan on flipping the house a HML will charge extremely high interest rates, but those loans are generally less than a year in length.

I think the future of this market is extremely bright, we just need to get through the current slump.

Originally posted by "Rehab702":Typical formula: (ARV – Repairs) x 70% = Maximum Price.Better yet: (ARV * 70%) - Repairs = Maximum Price.That will be (1) more conservative and (2) more consistent since you will be dealing with actual repair costs (the first formula only subtracts 70% of repairs and would thus have you offer more than you should on homes needing a lot of work).For example, imagine a house with ARV of $100K that needs $50k in repairs (an extreme example, but it makes the point):If you do it the first way, you get (100k - 50k) * 0.7 = 35k max offer That would be 85k you would have in a house (after repairs) that sells for 100k ARV (or you are paying 85% of ARV).

But I don't think it meshes extremely well if you're also trying to come across as a sincere REI with no hidden agenda.

Simply forming the habit of turning your drive time into listening/study time will educate you in no time.C) Join a local REI club in your area.If you actually do this starting right now, I know already for a fact you'll do extremely well and become an expert in no time flat.

And in this extremely hot market that were in here in my city he's trying to get a major discount on the price.

I'm extremely sorry to hear about your situation and I apologize for being so insensitive.