I would bet that this property will not cash flow.

Your best bet is to contact a title company and get an idea of what the various charges would be. 8)

You can always bet on flooring and paint commonly known as a lipstick house which is sometimes harder to find at a steep discount.

Betting on appreciation is simply speculation.

She said they send weekly progress reports and pictures.While the rehab is going on, she's going to be paying the hard money $580 per month which is the mortgage amount.At the end of 2 months the house should be almost done, so at this point she will get the house appraised and refinance the house for 80 or 90 LTV get out about 20k cash (the house is worth 60k)for the next house, then she plans to rent the property.

Minna,I just wanted to let you know that I've been following your progress for a long time!

Beerock,I don't think you understand operating expenses yet, so I'd bet that the properties you're looking at are negative cash flow, not break even.

There is progress from having started three months ago by looking through properties on the MLS at retail to finding properties before they reach the MLS is also an accomplishment.

. $200,000 with the IO loan.With an IO loan, you're really betting on appreciation.

When I feel comfortable, I will make a move......keep me posted on your progress and I'll do the same...........