Hello everybody I’m getting ready to close on my first property.

My wife Karolyn and I started Real Estate journey in April 2021 with bigger pockets, and we have since closed on 75 doors, Multifamily and Single Family.  

I partnered with one of my close friends who is a contractor.

After closing costs and any other fees, you're losing money.- Worst case scenario, $150k purchase, $40k rehab (or more), $170k value, you're losing a lot of money.IMO, I would pass and look for better deals. 

Thanks for this info, used for deal analyzing and will be calling agency to get a quote just to see how close these numbers are/aren't. 

Thanks to super weak governance during the BLM riots Antifa and homeless.. allowing open air drug use ( legal drugs) and the killer theft under 900.00 is not enforced causing rampant thievery and many stores to close kind of like We see in the mid west and rust belt when neighborhoods change and retail exits as its not sustainable.

I'm prioritizing safety, good rental potential, and proximity to Rice.What's a realistic budget to get started? 

I focused in on Aldea Zama due to proximity to beach and town as well as internet.

We start with the ARV and back into the target price we're willing to pay by subtracting out the rehab budget, contingency reserve, profit margin, buy and sell side closing costs, and holding costs for the time value of money.

There is nothing wrong with closing 1 deal every 3000 leads, there are tools meant to speed up that process.