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.

The $137K number thrown out is above 18% and an extremly insulting offer.

subdividing and developing will be extremely expensive.