How much did you spend on rehab?

Then, if the answer doesn't ring true (like the politician who "wants to spend more time with his family"), or if it turns out clearly to be false, then you have your first red flag.re: financials, start by asking for the usual suspects: The actual current rents, the basic lease terms (expirations, renewal options, if any), and the operating expenses.

I do think a motivated seller would rather call a marketing piece with a face vs a regular yellow letter or post card.I'm gonna bump this again to see if can get any more feedback before I spend a few thousand on marketing materials with my Mug all over them.AG

The reality is, spend a bunch of time here on BP, go to a few local Real Estate Clubs in your market, Network and approach of BP members in a PM regarding mentoring.

I'm leery of spending a lot to build on it, though, as I don't see this area appreciating in value much more than just as the economy itself rebounds.

But you may tend to spend more on taking care of your own unit.

There are just so many variables, I suggest you just put in an offer with the assumption of spending a few thousand, but with a 21-day inspection contingency period.

Easy to do and well worth spending a few bucks to make sure you don't run into unneccessary problems.During this process I also learned that it's very difficult to get new policies written while you have any open claims, so if you do run into an insurance issue - get it resolved quickly if you're slated to close on new property.

I was wondering if anyone had heard the rule of not spending over half of ones' savings on anything if you have no debt.

For example, defining strategy, building systems, raising money, focusing on acquisitions, etc.I'd much rather spend my time doing those things that are earning hundreds of dollars per hour than doing things that will only save me $15-20 per hour (the construction tasks).The most successful business owners are the ones who spend more time working ON their business and less time working IN their business.