How do your know that the Profit and Lost statment is correct.

it there r bad liens on the house wouldn't it cut into your profit.

You don't want to piss away any profits with repairs every single month.

The basic numbers I see are usually:Purchase Price- price you pay for the propertySelling Price - amount you will sell the property for (not necessarily what you will list it for)Holding Costs- monthly payments, insurance, utilities, points paid upfrontRE Agent Commission - agent's commission on the sale of the property (commission on the purchase of the property is considered paid by the seller)Rehab costs - total expenses used in rehabbing the property from lawn, paint, permits, property inspection, contractors, supplies, etc.Profit - the amount you must make to take the dealIf you take the selling price and first subtract the purchase price, then subtract the expenses (holding costs, agent commission, rehab) you should have your Profit amount.

Guess the lender earned a profit there!

Let say that I sold a home for a 50K profit.

Im not saying dont act at all because of fear im saying just make sure you already have an idea of your profit when you walk into a place'a note on satisfying your lender. you just need to satisfy yourself no one else is going to be thinking about satisfying you. good luck i hope you find a good deal. and things go well

:beer: Its funny when the market was great, it seems like most deals you could only squeeze 7-12k out in profit, because there were so many investors and so few deals.

., just something that I can get my feet wet, and turn for profit..

At first this house will be my residence, but will eventually be turned for a profit.