You have to figure out what you are willing and not willing to do and develop a plan from there.

You will also want a "weed-out" process to narrow your prospects (minimum price per foot, etc) or you will get overwhelmed with the time it takes to analyze deals.3.

It was a new luxury ocean front condo selling by the developer.

For example:- Do people require receipts from the developer to confirm refurb costs?

@Cliff MccueI prefer the city but Im also constantly looking at acquiring in:Park Ridge, Mount Prospect, Arlington Heights, Palatine, Wheeling

If the income you're making relative to the net proceeds (equity) or return on your equity is high enough and the prospects of appreciation are strong relative to your other options you may want to keep it but, if you're making a total return of lets say 15% but prospects for 25% return can be obtained safety in abundance then you may want to consider to grow your money quicker by selling your property.

We hold a real estate portfolio of single family residential property, multi family, commercial development, commercial buildings, and hotel properties.

Damon Flowers is actually the developer of this and I know he and Phill pretty well.

For you to get a discount you need financial distress and distress on the condition of the property.Now... for the other "really beat up house"... you should be able to turn that into money if you get a developer buyer.

Work hard and do well in school, develop your basic life skills and most of all HAVE FUN.