Currently I've been listening to podcast from BP, reading books, set a budget to save money for our first project for the coming year and just found a nearby REIA which my first meeting will be beginning in January.I look forward to getting involved in several discussions and to bounce ideas off you all.

And we're all just throwing around theories, as none of us have ever been to the states where decent properties at budget prices exist.Anyone have any real world experience between coastal and inland strategies?

. , I think you're on board with a lot of people on the time management/estimating, expense estimating (how often are we all on time AND budget?)

Now if you were proposing to flip these houses and your detailed numbers showed the all in costs would be 60% ARV, that we'd be out in 6-months, and you had the track record to back-it up, then I might entertain putting up all the money, but you can rest assured, I'd be looking for my pound of flesh to ensure the risk was worth it.Now, it your lender is willing to put-up 110% of the acquisition costs, let you rehab, and maintain title/control of the property, you are a lucky man and better treat this lender as well as your Mom.

So just found this property with a suppposedly "motivated seller" here are the numbers: Proposed Sale Price 185,000 Gross Rents - 1800 Less 8% Vacancy Loss <144>Less Insurance <44>Less 10% repair budget <166>Less Tax <180>Less deb service <1055> (80% at 4.875, 20% HELOC from Primary Residence at 4.5%Net Monthly $2168.3% Cap and the agent I work with likes the property and appreciation potential.Both units renovated 2 years ago.Thanks!

If your lucky, you won't have a problem, but I always budget for it and I am right 90% of the time.

Someone once told me to make a budget of the hours in your life, just like you would one for your income/expenses.

Thanks Greg, here are the numbers:Purchase: $375,000 (short sale)Reno budget $75,000Comps on finished homes in the neighborhood are $700-850k and I have the ARV at $710k conservatively as the square footage of the house is on the lower end, but the lot is large.I have the profit under these assumptions broken down like:Sale Price : $710,000Initial Investment : $450,000Gross profit : $260,000Buyer agent 3% (we have our license to sell) : $21,300Investor PRR: $36,000Net profit : $202,70050% to Investor : $101,35050% to Me : $101,350Total to investor : $137,350Total investor ROI : 30%

@David Galvan I would look at it from a month to month basis, how much can you comfortably budget and devote to marketing rain, sleet or snow.

All rents seem fair, the normal problem I see when I analyze Muti's is rents to low.Weekly rent payments are not uncommon around here, we have a fair amount of factory jobs and most hourly workers don't budget well.I don't currently have week to week, and it bothers me on this deal.