Here's the basics: Balance of 125k note due on 10/09.

We agreed on the basic terms and then went to an attorney to write it up for us.

If you don't have that, you're basically offering the same property as her, but at a higher price.

So basically, I just need to offer the figure that will give me an adequate amount of cash flow and not worry about how far below market value it is.With my first post...am I missing any obvious expenses that I should be considering?

He has a great, long chapter in there on financial analysis, and while you won't have your MBA when you're done reading this one, you'll understand the basic metrics.

The basic formula is that if your purchase and rehab costs are 70% of ARV, you use hard money, and you sell it within six months, you stand to make between 10% and 15% of the ARV in profit.

I'm just starting to learn the basics, like cap rates.

You need someone that is up to the responsibility, is well organized, and has a thorough understanding of most of the basic systems of your typical buildings.

I would plan on doing this using this combination:- any extra income from my business- using the money i would have used for my existing house payment (would be free now because I would have already paid it off)- using the income from the tenantwe are cheapskates here :)It would take basically $5100 a month in extra payments to do it, but the $1000 a month saved from no house payment, and say $100 from our tenant in the property would mean we would need to come up with 4k a month extra for a year.

Your basic needs are covered for the rest of your life and you don’t have any financial worries.