It cost me about $350k to build and I expect to get $550k for it after realtor fees.

Hello,
I just found this site. Looks pretty good.
My Realestate partner and I work the PalmSprings area(about 50 mi.radius). For those of you that dont know this area I'd like you to know this is a nice area with lots...

Are you a realtor or an investor or both?

I will save the 6% it will cost me to use a Realtor and list it on MLS and sell it For Sale By Owner."

you certainly can tell from what a person is asking to determine if they are on a good track to actually investing in real estate.but i would have to say that reading and talking with realtors, mortgage brokers, bank reps, sellers, buyers, investors is DEFINITELY a BIG part of the beginners way.

most people like helping others.i'd say, hit up a few businesses in area, chamber of commerce, etc...BEFORE you talk with a realtor.remember, asking a realtor if it's a good area to buy is like asking the barber if you need a haircut... 8)

I am one of those interior designers who has "staged" homes for agents and every one of them has sold during the realtor walk-through and/or the open house.

(do you need permits for any of the work - call the town to ask GENERAL INFORMATION about permits and such).k, so 12k in repairs and let's say 12k in closing costs = 24,000now let's just saaaayy, you'll have a mortgage payment, and i'll just throw a number out there to save time and typing = 2500 month (includes PITI)and you plan WORST CASE SCENARIO OF HOLDING TIME - 6 MONTHS= 15,000you sell it with a realtor = 3% comm at 300k = 9,000add it up = 48000 total cost of project soup to nutsso, you buy for 239k + 48,000 = 287,000 sell for 300k...profit = 13kbasic but you get the point - try this: you probably shouldn't pay more than 180,000 for it.

Closing costs when you buy it need to be factored and initial financing fees if you are financing it.When you are factoring sell price (ARV), you will need to factor off of that realtor/advertizing fees to sell it and ALL closing costs when you sell it.The 70% of ARV minus repairs formula adequately factors in all these factors.

Most realtors understand the power of any contingency, and I think that they place a strong value on the lack of contingencies in a contract.