Hello Everyone,My name is Nhia Yang and I am fairly new to REI, residing in Tulsa, Oklahoma.

I am hoping to buy a property to demo and rebuild into either an adult family home or rental. 

Everything else was all under the tile and only detectable and showed itself during the demo.

FYI Reifax also does demos/training sessions to help you get acclimated with their software.

We were about to found out a big reason as we continued demo and rehab.

Below are the numbers he gave me on the house.Rambler3 Bed, 1 Bath, 1069 Square Feet, roughly .25 acre lot, Occupied housePurchase Price: $141,000Renovation: $25,000Finders Fee: $0 (waived if I took it that day)Resell: $205-$215 (depending on finishes)Offered to sell it for me for freeSo here is the initial numbers I put together.Purchase Price: $141,000Renovation: $35,000 (I always add onto the number they give me, just to be safe)Closing Cost: $15,000 (7%  3% to buyers Agent, 1% to selling Agent, 3% closing cost)Holding Cost: $11,700 ($2,700 [points], $1,200 insurance, $7,800 for 6 months of Interest)Potential Profit: $12,300 (plus we finance our own renovation and pay ourselves)This is what it looked like:Next Post I will explain and show the demo/design and how we planned to add value to increase profits

The city did ask for me as a contractor (through the new owner) to pull a demo and building permit and make necessary corrections.

I know enough to handle demo but not to do professional quality work.

LOL.. judge just signed my order.. house is 100% covered in vines and blackberries and there is just a tiny path to the front door.. she opens the cat food cans and just chucks them on the little space on the porch.. since she would not answer us I had the cops do a wellness check and they did get her to the door.. you have to hold your breath when you get within 10 feet it.Also I am told the brother took a car apart and put it back together in the basement so supposedly there is a full size car we will have to deal with.. but this is a demo and rebuild new construction...

Of course, for you, the attraction of giving up profit is not having to make the monthly payment, but HML like the added time pressure created by the rehabber having to feed the interest monster.I've met a few people here locally that have broached partnering with me, where they'd provide all of the capital, but I have always wound up doing some work myself on projects to save $, but it's a different equation when saving $2,000 on demo is really only putting $1000 in my pocket.