But if he pits another broker against me and trys to cut this and cut that in some kind of price war .

One developer in town lies to owners and tells them he's going to live in their house, then he cuts off the back lot and builds another house facing the back street.

lolGlad to see my little words are taken to heart by some of the guru's on the site.The thing I wanted to add to my quote is one word that looms in everyone's vocabulary, that is capable of killing EVERY deal you look at:[size=18][/size][b]COMPROMISE[size=12][/size] In my dealings, the first set of cost numbers I run are usually the highest AND most accurate (not saying they are realistic).Investors, and mostly new investors fall into the Compromise trap.The numbers don't look good, you take another look at what's involved in the deal and search for area's you can cut costs without any real basis for doing so.You say to yourself, "All I have to do to get my profit up is use less expensive materials and do some of the work myself so I will save on labor."

The fact is I do feel that these questions are stupid especially the later because there is nothing clear and cut in RE things and situations change one investors clam to fame may not work in the VERY next town over.

and net worth is a relative term - you can have a million networth on paper but be broker than a bumb in the street.broke means, you have no liquid cash - that's bad. liquid cash or assets are simply easy to get to with no hassles.

Around 300K just won't cut it.

I wish I wrote this, however I simply found it online.

One thing i am concerned with in Chicago is simply the price of properties.

I would advise caution before you go cutting off his septic lines.

that's just simply cutting costs from your pocket...the Value of the property does not increase by simply "buying low".