Then when you meet face to face, get more details.

Apparently, your business proposal does not go into sufficient detail about what start-up costs are, where the money for start-up is coming from, what operating costs are going to be, and where the money is coming from.You are not presenting a financial team of management that is going to make the business succeed (because with your lousy credit and lack of money, I am not going to trust you to do it).That's just a start of why I wouldn't give you any money.

Yes, history will repeat itself, but the devel is in the details.

Or, solving for debt service will give you an idea (albeit subject to the details of your financing arrangements) of how much you can spend to acquire the property given the average/acceptable rents in a particular area.I like bar room napkin math and this looks like a quick and dirty way to determine whether I should spend more time considering a particular property or not.Please let me know if my conclusions are flawed.Thanks again,

To all,The following is a bit long as the details may impact the situation.

Unlikely that will sway the bank to your offer, and it won't give you time to do detailed due-diligence.I think you've neglected your costs in your math.

This is proof that the process was explained in detail at move in.

Anyway, email me if you wanted more details on how the classes went so I wont fill this thread up.Keep up the good work!!!

Ken,Thanks for sharing the details.

I am sure you can offer your perspective when people ask PM related questions.If you want to get into fix and flip deals then check out the forums that focus on the deals and the details relating to refurbishment.What sort of properties do you manage?