It sounds like one of the biggest areas someone new to wholesaling can make mistakes in and be in a losing situation is wrongfully evaluating the ARV of a property they put on contract.Clearly with time and practice it will be easier to be able to valuate a property and know what the ARV is.

Attorneys advertise in the yellow pages as to what areas of law they practice, just call them.

If it is painted and that old you may have to use lead safe practices.

Hey Nik Parks also from the NYC area (harlem), also a newbie but more than happy to meet up and start to learn or even do some deal analysis for practice if there are some like minded individuals.

Bill Gulley that is very advanced for me however i am going to forward alot of what is said here to my attorney tomorrow. thank you for you input and i am sorry i cant speak much about your input as i am very new to these practices.

In practice, this means a cap of $40 - $50 before the Tenant could contact the Rentalsman and claim we were being unreasonably heavy-handed.

It would be kind of fun to take a sledge hammer to the place, or practice some side kicks on walls and doors before having it torn down lol!

I'd charge 8 to 9%, but you need to consult with a real estate attorney for legal practices in your state (and dodging around the SAFE Act).

The problem arises when the rehabber (Jon, in this case), decides that he needs to hire a GC to pull permits and bring in subs -- which he would very likely have to do if he didn't have a full-time employee managing the project.In that case, it would likely be more expensive than the 5-10% management fee option.So, while in theory I agree that the management fee *feels* wrong, in practice, I think it actually saves both sides some money.

In the name of quicker access to real estate information in the hands of local government folks (register of deeds, local assessor, tax collector, county surveyor and map providers, etc.) I've drafted a contact list f...