., Or you might be able to put the property under a lease with an option to buy so that you have control over when you exercise the option and close on the property, etc.

It's a great book and gives some exercises and direction for building passion AND perseverance.  

Most important, I will be sampling copious amount of booze and food.If someone wants to join me in any of the above endeavours, talk some real estate, have a beer, etc. it's on me!

It's been my experience that trying to contact the owner and or the bank of a property that has been sitting vacant is and exercise in futility.

You would have a locked in 27k profit if buyer exercises option or you will have a property that is assessed at 120k and has massive equity already built in.

No wait, don’t answer that, i’ll start another thread)Vacancy Buy in markets with strong fundamentals (pop growth, job growth, job diversity) Buy in good quality B class neighborhoods that would maintain renters even in a downturnSave 5% gross rents for vacancySave for inevitable lease up feesRent Prices Drop My numbers predict i could stay in the black even with a 10% drop in rental prices (see example below)Other At time of purchase i set aside 6 months of gross rent in cash, for reservesSample PropertyThis is a sample property is actually more like a higher c class, but i you could move the numbers up higher and see the same thing with a B class SFRPurchase Price: $60,000Closing costs: $4,000Rent $900Vacancy ~ $45(5%)Maintenance ~ $45(5%)Capex ~ $125Op expenses(tax, insurance, lease up, mgmt) ~ $162NOI ~ $522Mortgage: $261Heloc: $68(at current rate) - $160(at highest rate)Cash flow: $193(at current rate) - $101(at highest rate)I'm a little scared to ask this, but better burned on BP then in real life, so here we go.What am i missing or what did i not think of?

Would love to hear about other options for financing/investing that the seasoned investors have exercised.

One ust send “multiple letters over time” in order to create “a machine that will consistently spit out deals.”Here’s a sample of one of his handwritten yellow letters: Dear Gabriel, I’m looking to a buy a house in the Plains area.

Here's the link to the poll: Appliance QuestionnaireI'll share the results out once I get a good sample size.Thanks!

Hi Showshawna,Blindly using $/sf values without completely understanding what's included in a light, medium or heavy scenarios is a very dangerous way of estimating rehab costs.If you are going to use $/sf you need to understand that the Scope of Work, level of finish, & market will impact your prices.I would recommend performing a pricing exercise and perform 3 different detailed estimates of a typical sized rehab project that you will pursue, with different grades of rehab (light, medium, heavy).Pricing Exercise StepsFind a Typical prospective rehab property that you will pursue at the auctionsCreate a detailed Scope of Work for each Scenario (light, medium, heavy)Create a detailed list of whats included in each scenario:Light - Paint & Carpet?