utm_source=search&utm_medium=internal&utm_campaign=booksSimply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

Regardless of getting a business degree with real estate as an emphasis I felt more comfortable with the construction business.  

utm_source=search&utm_medium=internal&utm_campaign=booksSimply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

I have more than 10 years experience in rehabbing, new construction, flipping and holding properties for long-term appreciation and cash flow.

I have completed flips, holds, wholesale deals, new construction deals.

In any construction project the more estimates you can get the better, but I would say if you do not have a relationship with a contractor that you trust 3 estimates is pretty standard.  

Hi everyone,i am looking at purchasing a newly constructed duplex in Concord CA, but i am not sure how to valuate it... its off market deal and the seller told me to  make him a reasonable offer.

Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/inviteshttps://www.udemy.com/biggerpockets-real-estate-investing-course/ (video with 64 lectures and approx 6hrs of material)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REI)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Continue to feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational, thought provoking ideas relevant to REI.

This is also how I would sell him on the deal.Estimated Minimum Closing Costs $5,500.00Estimated Closing Costs Based on Prop Value $5,500.00 Repairs/Construction $10,000Total Loan with Seller Concessions $100,000.00 % Down Payment 20.00%Down Payment $20,000 Remainder of closing costs $15,500.00 (this assumes you are paying for the renovations out of pocket)Total Due at Signing $35,500 Mortgage Rate 4.75%Length of Mortgage in years 30Monthly Mortgage payment $417.32 Taxes $100.00 Sewer and Water $- Trash $- Heat/Utilities $- HOA $30.00 Cap Ex and Ops $150.00 (this is your future roof replacement, hot water tanks and other major items)Insurance $250.00 Mgmt Fee $140.00 Vacancy $113.40 Total Expenses $1,200.72Total Revenue $1,400.00 Cashflow/month $199.28Cash on Cash Return 6.74%