It has about 50 units and if I could sell them as condos at the market rate I should be able to make around $45k net per door, ending up with a total next profit before tax of around $2.25m .

(Oh im a realtor so I also made 3.5% of the 52,000 purchase price) Moveing me up to a profit of about $13k or $6500 and hour.

Did he along with 99% of the investors I know miss the lesson in" by low sell high" After he finishes telling me how crazy i am too buy now, I keep it to myself that I just got an offer with over 100k in profit on the table, and that I picked up a lake home for 24k that later ill make 45k on.

I echo Ryan's words of welcome, and say to you --we're glad you're here.I hope we all can profit from you years of experience.

I have and will continue to do my due diligence on prospective properties to make sure there is a profit even if the unexpected (which I'm sure will happen) comes around.

None of this "go to school and get good grades, and get a good job bulls***" any way enough said.Becasue if they did who would work for the fortune 500 compaines who would produce the labor they profit from?

If a project has a profit in it, I will listen even if it is in China.

I think it's important to know the value of a property and what margin of profit you need to make and then to make offers on the properties that make the best sense for you within the established parameters.The number of offers you make isn't nearly as important as the quality of them and whether you get responses or not.

Basically your buying wholesale trying to sell retail for a profit. but in reality your competing with the wholesale companys themselves selling them for the same price they selled it to you at.

If you get a good enough deal on it and could even make a decent profit selling it at 70-75% of FMV, then you could probably sell it before you even close on your contract.