Purchase price: $160,000 Sale price: $202,000 My wife and I wanted to explore flipping a property but since we didn't have experience or a background in construction, we decided we will buy a cosmetic flip which is something that will only require simple changes to the property like replacing carpet, paint, recess lights, cabinets, bathroom tiles and a vanity.

Much better than what I currently have.I’ve actually thought about putting a camera up in the parking lot to capture how often the car is there.I’ll start with the written letter first reminding the tenant of the lease.

@Benjamin Rodriguez It’s simple….conventional loans (Fannie/Freddie) can not be made to an llc, only an individual.

Such a strong relation to the type of company and team when they err on such simple things.

The interest rate you speak of a compounded cost and the CoCR is a simple interest applied to one year.Once again, percentages rear their ugly head and lie to us.

It is really that simple.

There are so many do's and don't's to flipping and it isn't so simple as just a brief explanation as a response to a forum post.

If you want simple numbers, 80-20, capital by LP vs. capital from GP, GP will usually invest first 10% before raising any funds (legal, deposits, maybe plans, etc.)The return will be pari passu on contributed funds first, thereafter say a 50-50 return.

If you’re just using the funds to buy RE or other businesses and putting the profit back into the 401k and not paying yourself, then it’s a simple transaction.

The improvements needed are simple cosmetic, sand floor, some new vinyl flooring here and there, paint, kitchen and bathroom upgrades, and new appliances.