Didn;t you just spec build there for profit?

So, if your wholesale buyer is willing to pay $15k, then you need to back out your profit and anything that you offer to the seller.

I own 2 houses and I make about 10k in profit on these houses every month when they are full.

Some years that will be straight profit to the AC guy as you need nothing done, other years he'll break even with 1 or 2 minor fixes, and some years he may lose out a little as a major doodad goes out.Insurance companies make money by understanding costs, risks, how often things break.

He would then maximize profits by building the houses in China and then shipping them here combined with a massive marketing campaign to convince the public that not only are his houses pretty nice, but they make you a little hipper than what you once were.

Are there any other ways you might make a profit on rentals on your area?

Rich Weese I thought you retired, that's not retirement....LOLI just cashed checks fell into a wierd short sale that I'm not going to profit from and made a couple (okay, maybe more) posts here...now that's retirement!

Asking price is $60,000.Rent $850Tax/ins $125Pmt-$459.00(thats financing 60@ 4.5%fixed for 5 years on a 15 yr note)Profit $266Here are the variables-I think i could get it for 52-55K.

You'll end up paying about 10% to sell the place leaving you cash out in the $72 - 81k range... leaving you $5 - 14k profit... that doesn't include any holding costs... seems pretty tight.Your other strategy is to invest $19k ($12k down + 7k rehab) for what amounts to $70 a month in cash flow per your numbers above (used 50% GOI - Mortgage defined as $500 - $170 in taxes)

Yes, you'll have closing costs, but the breakeven on paying back these closing costs from your incremental profits (from buying new rentals) is typically less than a year.