This way the GC can easily bid out each part of the job, and get me a bid much more quickly than if he has to consolidate based on my "room to room" list of things to do.I'll then have my GC give me a labor bid broken down into the following components:- Permits- Demo/Dumpster- Foundation- Roof Framing- Roof Felt/Shingles- Siding- Gutters/Soffits/Fascia- Decks/Porches- Landscaping- Doors- Windows- Wall Framing/Sheetrock- Electrical Rough- Electrical Final- Plumbing Rough- Plumbing Final- HVAC Rough- HVAC Final- Kitchen Cabinets/Countertops- Bathroom Cabinets- Bathroom Fixtures- Interior Paint- Exterior Paint- Carpet- Hardwood- Tile- Vinyl- OtherOther could consist of anything from install mini-blinds to replacing outlet covers to installing appliances.This generally gives me (and the GC) enough detail that the job can be accurately estimated, and if things change (or surprises are found), we can adjust individual areas accordingly.This also gives me a good idea how much each of his subs will be making, allowing me to figure out what his profit margins will be -- giving me some negotiating help if needed.If your contractors have an issue with filling this out, try telling them, "My lender is requiring me to break it down this way in order to approve the loan."

you only paid $100K, are you trying to make a profit from me?

That leaves $625 for debt service and pre-tax profit.If you want to make $100/month in profit, that means you have $525 left to pay a mortgage.

@Charles Whitaker Here is a quick checklist:- Have multiple EIN - should have separate QBO subscription for each and file for desktop Pro, Premier, Enterprise- You should use QBO Plus or QuickBooks Premier or EnterpriseCall us we can get you started with what every you need. - Gita

And one guy, the guy with the hedge fund, profited greatly.

At the end of the day, If we did not want to maximize profit in the first place, we would not be investing!

Thanks, I will definitely look there, thanks for welcoming me and I Iook forward to a profitable 2009!

if so Curt again might be right as not enough cashflow to make it worth the deal considering possible repairs that might come up later that eat into profits.

You know, Sardinia real estate market has high values (good and profitable real estate investments starts from € 200.000,00) but Sardinia is one of the “precious†investment regions, for its rental potential and because properties' values will be hardly affected by market changes, but will rather stay stable or even keep rising.Please contact me for further information!

Has anyone out there had any success with bidding on a home on a site like ebay and flipping it quickly for a profit?