And ALWAYS follow up.Here are the numbers on the deal:- $108,000 Purchase price- $8400 closing costs- $70,000 Rehab Costs- $2,000 holding costs for two months (estimate is 5 weeks to completion but lets say two months, it wouldn't be so quick but equity partner is full-time GC on-site)- $274,900 ARV (Appraisal completed by bank)- $5,498 Selling Costs- $16,494 RE Commissions.Net Profit = $64,508 about 23.5% profit off of ARV.Now the fun part begins, I'll report back with pictures as we go through this.

Today I received an  ALL-CASH offer from another investor for $350k closing next week if I accept.

Hi, a couple of weeks ago I learned, from an answer to a question I posted on BP, that I can't 1031exchange earnings from the sales of mortgage notes.

After listening to last weeks podcast I got excited to pivot out of the daily grind and try my hand in real estate.

Comparable houses to this house are selling for about 75% of the list price while similar size land plots within a couple of miles have sold for 100% of the list price. even after commissions and whatnot, it looks like a 150% ROI is realistic in just a couple of weeks.

This is the first week i have been on the forum and I see why they say to read forums.

WEekly email summaries of timeline and budgets to subsOnward!

Craigslist ads (post about twice a day and reply to every for rent post in your target area), Direct mail (send letters/post cards to every foreclosure filing in your county and then follow up with them again about 3 weeks before the foreclosure sale is set to happen), Drive for Dollars (when you see a house that is in need of repair, knock on the door, ask about the owner's plans).

She lives with family while going to school, and works around 15-20 hours a week year round.  

If all their money was gifted by a relative last week, I wouldn't feel safe doing the loan, if it were me.Are you putting the borrower on a draw system, or are you giving them 100% of the loan up front?