Two deals a month is fantastic!

Acquisition cost, plus repair/rehab cost of 70% is at the TOP END.Keep looking, keep your cash dry so you can pounce on the deals that do come up.

Another poster here posted this formula, so he's aware of it, Im aware of it, Im sure you are...but you wouldn't believe how many realtors Ive tried to explain this to where their eyes cloud over and they dont get it...even after 25 years in the biz....and thats assuming they even return phone calls/emails, or worse, forget everything I've told them when it comes to what I'm specifically looking forOkay, enough of the realtor rant....Let me ask you this....I understand the liability involved by scooping up a deal at 50k below market plus getting the 7 percent on top will cause some problems. since they're not looking out in the best interest of the seller, which would be Mr/Mrs Smith on a conventional property...now, let's look at a HUDLets say a HUD property comes up, and it goes thru the first week, where only owner occupants can purchase it.

One of the houses sold for cash in 14 days at a top of the market price.

20,000, that's where DJSE was at a While B4 9/11/01Even Prior 2 that eventful day it WAS on the downhill slide.For folks that got in at the top & watched their fortunes wiped out....know what their Brokers told them 2Do over the losses?

If you are a top producer and sell and list two homes on one deal your broker might let you offer a 5% but it is rare and must be approved in advance by the broker.

All appliances were included, the condos are higher end, and I get top rent for them.

Leah is Dead on Correct;New Money, THINK OUTSIDE the BOX(I know this is WAY overused as a term, however)95% of the folks in this business make $$ 1 way....I chose the other;Cultivate a portfolio of PRIVATE Lenders....offer bizarre loan arrangements that are so far from "normal" banking procedures that the borrowers(& Lenders) are ringing Your phone off the hook...catering 2 flippers/folks that can/need ONLY private $$ w/a proven track record is what it's all about 4me;When was the last time U heard of a flipper/rehabber getting $55k BACK at the closing table along with ALL THE REHABBING Costs on TOP of THAT!

And to top it all off we took over a year to fix it up and resell it.

They're not stupid....they take moron's w/"savings" accounts(paying 1%), & CD;s(paying2-4%) & turn around & LOAN the money to folks w/Top shelf Credit for 5-9%....hmmmm?