Make sure you have a percentage (usually 20%) set aside from your rent for overhead like when the condo isn't rented after a tenant leaves (unrented days), repairs, HOA dues, utilities you pay, condo assessments, etc.

I am interested in becoming an investor i would like to wholesale houses in foreclosure. you mentioned something about it being illegal in maryland.... now im scared to death to get started. i have been reading alot on the subject and basically this is what im trying to do... im binding a property with the use of a sales contract and then selling my contract to a rehabber...is this illegal???

This means that a unit owner in a building of let’s say 300 units assuming he owns one unit would get a 1/300th share of the proceeds of any sale of the assets….For anyone interested in Condotel Investments at the Lancaster Suites, the Current Prices & Available Condotel Units are as follows...Lancaster Suites Tower I is "SOLD OUT"The Current selling price for basic Lancaster Suites Manila Atrium Units [Studio Type] is Pesos 64,888 or $1,298 per sqm and are 12% Tax Exempt.

You are basically using other peoples due diligence.

Looks more like a 1 fam but here in NY with the way housing has gone anyone can basically apply for a 2 fam as long as it's not a basement.The house was a 2 over 2 (2 bed 1 bath over 2 bed 1 bath and basement)When I took over the property the tenants were in there from the time my parents owned it.

Now in my calculations the following numbers are really thin to the point of not working when I take into account the hard money fees and holding cost that would be assessed.

Well first let me state that though this is not really my field of expertise but some of the basic steps are to review the leases and have the the property appraised and inspected.

If that were the case I thought that if you were honest with them you would have to tell them to list their house with a realtor at a very fair price to move it quickly, end foreclosure and maybe get some equity.What I have since learned is that the majority of the people wait far too long and don't contact us until it is basically too late to sell via traditional methods.

If the property passes the basic tests then you do more thorough analysis.

Who will finance basically a flip transaction:I have an investor who buys a property at a discount from a bank, and resells it to a buyer the same day he closes.