More forclosures coming in every month in that size and price range and getting financing for those babies limits the number of customers knocking on your door.

The house has a mortgage of 50,000 (3 bed room , 1 and a half bathroom)Houses in that neighborhood are worth about 75,000 The house has about a ballpark of 20k in repair.

(When I say Complete, I mean new Hot Water Heaters, New Furnaces, New Roof, New Windows, New Doors, New Carpet, New Paint, New Light Fixtures, New Electrical Outlets, New Bathrooms soup to nuts, New Kitchens, etc).

Not including any aluminum wrapping around doors/windows....

So, in this case, even list price would be a decent deal based on this forumula.However, if you can buy the same house next door for $15K, this isn't a good deal.

Some would tell you to tailor a message for everyone, which is good, but you want to focus on problems that will push buttons.Get your message on the internet, you can write an article here and put your contact information in the signature section and market that article through pay per click and save the website cost.Last, target an area that you want to invest in and plaster fliers on every door.

-100k financed at 7% for all 100k (commercial loan) = 665 P&I-Gross rents $1800/month-should be around $100/door profit using the 50% ruleAm I missing anything?

Nothing has blown my doors off yet since my limit is only $90k but I am also considering starting a small computer repair/rebuild business.

One of the contractors who was in to give an estimate mentioned my bed and bathroom doors--standard hollow core doors--and said originally they were ugraded solid panel doors for that house.

“We just need to get them in the door and the deal closed and get as much money as we can upfront then if they default we will still make a nice profit.†That is why interest only loans were so popular for a while.There is a reason why I don’t work in the financial industry any more.