So ya he's going to lose his house and everything else I bet.

i'm talking a GOOD 6 months to a year of learning about finances (both personal and business), real estate investing - benefits and risks, business operations, and some systems for analysing properties thoroughly.keep in touch.

i hav a friend whos financing just fell thru on a 200 k loan to finance his salvage operation he has the land and liscencing all wrapped up but needs operating capital and money to buy a scale he has some good collateral if interested kevin

Perhaps a strat. of buy, hold and sell is the best bet.

I have no idea what building a bathroom inside the structure will cost but I'll bet it's going to run $10-$15k.

Your best bet is a hard money lender, and if you don't even have atleast the upfront fees (usually about 5-6%) then the HML probably won't feel comfortable with it.Third, when you say you figure it will sell for 70K or 90K, what are you basing that off of?

Your best bet for determining a true CMA (comparable market analysis) is to use a trained pro.

Tucson, AZbut I operate in and around Mexico :mrgreen:

Wow, I bet he's been waiting over 2 years for that info...Just kidding

Price/ Unit $ 52,500 Price/ Sq. ft $ 74.46 Rental Income Scheduled Rental Income 48,000.00 ( per year) Vacancy (0%) 0 Effective Rental Income 48,000.00 Service and Other Income 1,615 Effective Gross Income 49,615.00 Operating Expenses Utilities: 4,320.00 Repair & Maintenance 1,300.00 Turnover Costs/ Cleaning 3,000.00 Taxes 2,568.00 Insurance 1,750.00 Total Operating Expenses 12,938.00 Net Operating Income 36,677.00 Debt Service 22,884.00 Cash Flow 13,793.00 Cash Flow/ Month 1,149.42/mo Cap Rate 9.178% 4 2-bedroom units rent for $550 4 1-bedroom units rent for $450 Can anyone help me figure out if this is a worthwhile deal?