Then I simply get my quotes for the necessary repairs, add in my profit I want, add in all purchase and sells costs, and determine my hihest offer price (of course my first offer is usually lower to start) but not always.

This spring he virtually disappeared for two months and I found out when he got back that he had created a group that bought half of a pacific island and wholesaled about 200 lots, making himself a profit of somewhere between 2-3 million (2 months profits).

Or split of profits.

We need to be able to purchase and rehab these home and be able to sell them, with profit included, for 65% of CURRENT Market Value.

I also am more knoweldgable then most agents when it comes to the financing options, business planning, fix-n-flip vs rental, estimating cost of repairs, cash flowing, property expenses, net profits, ect.I enjoy helping others succeed in the Real Estate Investment Market (yes, even in this bad economy....it still can be done ;) I specialize in helping brand new investors get on their way in Real Estate Investing!

High origination fees and high interest rates set the bar very high for you to find a deal that will be profitable.

Having 7+ properties and splitting the profits is certainly more profitable (with no finanical risk to you) than having 1 or 2 on your own with 100% of the profit and 100% of the risk.

You can sell the second deal anytime and probably make a profit.

Well, you would have already collected a deposit from him (we get 2 grand) so a) you are already up a grand and he loses his deposit b) delay the closing (if your buyer is laying in the street somewhere half dead that won't be a problem)c) Sell it to someone else because you would have normally had a back-up buyer ready)d) Walk away from it and you still made $1K profit

As a rental:$850 rent$425 expenses (50% rule)$425 NOI$100 desired cash flow$325 max payment$48,850 max all in price$10,000 repairs$38,850 max you can pay for itAs a fix and flip$139,900 ARV$97,930 70% of ARV$10000 repairs$87,930 max you can pay for it$20,985 best case profit$13,990 realistic profitProfit based on paying $87,930 and sticking to your $10K budget.