he said he has 25,000 Into buying the home in 2008 and has made his money back multiple times over since 2008 as a rental but is tired of renters and fixing issues every 6 months or 3 months or year you know the story....so his offer to me was here you take the house I will even throw in 20,000.00 as repairs and updates are needed you ( being me ) do the work and when you are done we have it kisted...he then said he only wants his investment 45,000.00 back at the sale and anything over 45,000.00 is MINE?

I've found that Arizona, Texas and most mid-west states give both good cash flow for rentals and sufficient appreciation for fix & flips.

Because most of the closing costs are fixed, the percentage can be extremely high on lower priced properties.

I've read about wholesaling and i'm not too sure about it I would rather just get into the fix & flip part.

I came from ghana Africa to the US  in 2003.I am married with 3 boys.Been through a lot and have finally been able to save up 150k.i want to go into buy fix and flip based on the advise i had from friends.They tell me that,i am ahead based on the 150k i have saved up.i dont want to lose my money.i need a good advise on what to do.Alex

(4) Or are HUD homes simply a great way to fix and flipThank You for any feed back

I do work for a general contractor as a project manager, so rehabbing and fixing up is something I at least have some experience in.

Based off my experience w/ my property, having a 3 month buffer would have been an appropriate amount of time to get the unit fixed up and rented.  

So, if you live in a house for 6 months, fix it up, and sell it- it's my understanding that we will have to pay the short-term capital gain tax.

Also 7-8% is realistic in most markets (from what I hear) What I took from Bjorn here is to fix your own variables, good call not to trust whats given!