I think that's what Tom meant when he indicated the first time you pay "Joe the Painter", next time "Joe the Handyman", etc.

Unfortunately those prices are indicative for most of Australia.

UNLESS...your detective work turns up multiple properties, or the deceased had a different mailing address from the real property, which would indicate income property.

When you make the offer there is a box to indicate if the offer is cash or financed.

., fewer than three branches) there's essentially no chance of a typical small investor getting access to deals directly through the asset manager.Banks recognize that they will get the highest price for their properties when the properties are listed publicly, which is why you need to work through the listing agent.In terms of your question, it really depends -- I've purchased REOs for 20% above list price and I've purchased them for 40% below list price, and everywhere in between.

Just trying to make sure I answer your question, as you indicated you needed it quickly.

Like Charles, 15% is the number I look for in terms of long term COC; but also like Charles, I look at other indicators as well...For exampe, I want to know that I have built-in equity at the time of purchase and I want to know that if I finance the purchase (or refinance), my total return will be at least 25% (with equity accrual).Since I'm always looking at the final exit strategy (sale), I want to know that the property has appeal to market buyers so that when I choose to resell, it won't be too difficult.

Looking back, I wish I would have bought fewer new cars back in the day, and bought a rental or two instead.

Originally posted by Jason Mathews:So, again, I agree that there are two types of newbie, but I don't think any of them were born yesterday and they all know that investing will take knowledge, study and work.If everyone knew that real estate investing would require knowledge, study and hard work, there would be a lot fewer people who show up on sites like this, post one or two questions about, "How can I make money in real estate working part-time with no money and bad credit?"

If he collected any other money -- late fees, application fees, etc -- these would be added in to the income as well.So, $9000 is added to the person's top line income.Let's assume 33% of the gross rents went to expenses (the 50% Rule would indicate more, but remember that includes vacancy and capital expenses, which aren't really Expenses in this calculation).